Lloyds PPP claim

Shocked_mg

I took out a loan with lloyds tsb in 2007 for £9000 to pay off credit cards with high interest I was advised to take out PPI in case of unemployment or illness which I did without question, the loan was to last 7 years and just before it was due to finish I had letters from Lloyds about claiming for PPI but I did not think I qualified as I knew I had accepted it when I signed up. Recently a work colleague was off sick and got paid full for 6 months ( I never thought to ask about this as was never sick and lloyds didn't ask) only then have I realised the PPI was probably a waste of time as I knew if redundant I would get a payment and I've worked for the same company for the last 26 years. I also have separate life and critical illness cover.

Unfortunately I threw away the paperwork when I made the last payment glad to be finished with it but I have contacted the bank now for the number to make a claim and was told I was paying £160 something a month, to say I was shocked is an understatement as my actual payments were £224.40 a month totalling £18,849.60 over 84 months. £160 over 84 months is £13,440 which is the amount I am sure was quoted on my agreement as loan plus interest so is the rest all PPI or is there interest on PPI too? £5,409 seems a heck of a lot of PPI.

Either way it seems without realising (stupidly) I have paid double my original loan, why I never added this up sooner I'll never know but my claim is now in and I'm keeping my fingers crossed.