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Can I reclaim my PPI?
Few months ago I got loan from Lloyds TSB. I noticed that there was PPI included (in Looyds it calls Personal Protection Cover I guess). I ask what was it, the salesperson explaind me, I said I didn't want it and he replied that I must take it if I want to get the loan. Loan was 6000 pound, insurance itself over 900and was added to the loan, so it was nearly 7000 pounds in total plus interest. I have still 2000 to go. In this case can I reclaim the money back?
Regards
marcury
Regards
marcury
0
Comments
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Marcury,
If you were told the insurance was compulsory to secure the loan then you have a clear case of miselling.
I suggest you write to Lloyds and make a formal complaint and ask that the premium is refunded and your loan repayments are adjusted.
Clearly state that you initially declined the insurance but were misinformed that it was compulsory to secure teh loan.
Also state that if the premium is not refunded that you will have to refer the matter to the ombudsman service in due course.
Good luck.
R.Smile
, it makes people wonder what you have been up to.0
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