Can PPI be claimed back on a resolve loan? 22 September 2020 at 11:01AM in Reclaim PPI & other insurance 3 replies 62 views

TwoWheel_Junkie

Some years ago I had a personal loan which I was unable to maintain payments on due to personal circumstances changing. The bank was not willing to entertain my constant offers of a lower monthly payment and told me a Resolve Loan (RL) was the only option. I felt I had no choice. This was a very stressful time for me, not helped by the bank's approach. 

I'm currently making payments toward my RL to clear it. Would PPI have been added to this? If so, is this something that I can claim back while I'm still working to pay the RL? 

Thanks in advance for any info. 

[Deleted User]

You don't claim PPI back on any loan, but you were able to make a complaint if you feel it was mis sold.

However, you're more than a year too late, even if you chose PPI at the time.

dunstonh

Would PPI have been added to this?

PPI stopped being sold on loans around 10 years ago.

If so, is this something that I can claim back while I'm still working to pay the RL? 

You can no longer make complaints about PPI misselling. The deadline was over a year ago.

[Deleted User]

Even if the deadline hadn't gone, they would offset any PPI refund against your debt in most cases so you'd never see any cash unless the refund was more than the balance