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Can I reclaim CPI on old loan?
StinkyMonkey
Posts: 150 Forumite
Got a loan in 2002 to buy some electrical goods (just over £1000). Loan was arranged in person at the electrical supplier's store. Loan was offered by a bank. Monthly payment had been set up fairly low but I was overpaying each month and repaired within a year without paying any interest.
Was going through files a few days ago and I noticed that the loan agreement included credit protection insurance >13%. I do not recall discussing anything like that at the time and the relevant box was probably pre-ticked. Afterwards, a leaflet did arrive from the bank, but I did not pay much attention.
I do not think I needed the insurance but it has been such a long time that I cannot be 100% certain what the discussion with the salesperson was.
Could/should I claim the insurance payments back? The bank is one of those that had been fined a few years later for mis-selling.
Thank you
Was going through files a few days ago and I noticed that the loan agreement included credit protection insurance >13%. I do not recall discussing anything like that at the time and the relevant box was probably pre-ticked. Afterwards, a leaflet did arrive from the bank, but I did not pay much attention.
I do not think I needed the insurance but it has been such a long time that I cannot be 100% certain what the discussion with the salesperson was.
Could/should I claim the insurance payments back? The bank is one of those that had been fined a few years later for mis-selling.
Thank you
0
Comments
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Doubt it because a third party sold it to you , not the bank. And this third party was very likely not regulated in 2003.Non me fac calcitrare tuum culi0
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