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loan protection insurance

lswswake Posts: 1 Newbie

25 July 2007 at 7:51PM in Loans

Hello
Can anyone help please I took out a secured loan for £15000 and at the time was told that I had to take out protection insurance with them or would not get the loan . At the time I asked if all I would have to pay back was the loan they said yes. When I remortgaged I paid off the loan at a cost of £19000 they said I would receive the difference back fro the insurance company however they only gave me £1500 back. How can they do this and does anyone know if I have redress?

thanks

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