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Is my PPI claim impossible?
badgerbert
Posts: 2 Newbie
I took out an unsecured loan around 18 years ago with Lloyds, which included a monthly "loan insurance" payment. 3 years later, I renegotiated my loan minus the monthly "loan insurance" payments, as I had realised that they were very expensive, and I continued to pay the renegotiated loan.
About 13 years ago, my debts got out of control and I ended up doing an IVA to clear all my debts, including my loan.
So I ended up not paying the loan off.
Is it even worth trying to do a PPI claim from such a long time ago, or should I forget about it?
About 13 years ago, my debts got out of control and I ended up doing an IVA to clear all my debts, including my loan.
So I ended up not paying the loan off.
Is it even worth trying to do a PPI claim from such a long time ago, or should I forget about it?
0
Comments
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You can complain. However, they can use the redress against any amount of the loan that went unpaid.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Any monies still owed from the loan can be off set by the Bank against any redress you might be awarded. If you ended up owing more than the PPI amount, you'd stand to receive nothing.badgerbert wrote: »So I ended up not paying the loan off.0
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