PPI mis sold with a guarantor loan?

Hi. I'm in the process of trying to reclaim any PPI I was mis sold on two credit cards I held. But I also had a loan a few years ago from a company called George banco. They use guarantors, and I'm just wondering whether PPI is/can be added to a loan where there is a guarantor? Or am I wasting my time pursuing them?

Or has anyone successfully reclaimed from this company already? Thanks in advance

Comments

  • Bermonia
    Bermonia Posts: 977
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    It is certainly possible, in fact it would make very good sense to pro text your repayments in the event you were unable to work thus negating the risk to the kind person who acted as a guarantor - now if you did have it why would you consider to have been mis-sold?
  • pro text
    Should that be protect?
  • Nasqueron
    Nasqueron Posts: 8,631
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    Possible yes but it would have been on all your paperwork you signed, so did you agree to take it out?
  • dunstonh
    dunstonh Posts: 116,040
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    But I also had a loan a few years ago from a company called George banco. They use guarantors, and I'm just wondering whether PPI is/can be added to a loan where there is a guarantor?

    Yes it can. However, having a guarantor is actually a good reason to take out PPI. Not a missale reason.

    That said, PPI was not being sold on loans taken out a few years ago. So, you wont have it.
    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.
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