ppi upheld

kirstycobie

hi,

ombudsman has rang to say they are upholding my claim with lloyds, but lloyds have three weeks to decide if they want to dispute it.

im on looking threw my statement for the loan, the ppi was front loaded. i paid the loan off early. loan was for 2500 and ppi 426, i paid the final payment i made was for 2557.30,

when i have worked all the inmterest ect out it looks like i paid for the full amount off ppi of 426 on settlement aswell? is this correct or have lloyds totaly taken my eyes out or should i have only paid ppi for the few month i had the loan?

[Deleted User]

The PPI would have attracted a rebate on early settlement of the loan, so you will not have paid the full amount. The reason you paid back more than you borrowed is that you are not taking into account the interest on the loan correctly.
However, if Lloyds did fail to rebate the PPI on early settlement (which is very unlikely) then a full refund of the amount you paid will be form part of your redress if the Bank decide not to appeal.