Thread: lloyds loan ppi

i took out a 5 year loan in 2004 for £3000 with Lloyds tsb i did have an original loan but upped the amount by a thousand was previously £2000 i was naive at the time didnt know anything about interest rates or anything , i wasnt explained the interest rates or told that i was having PPI added on i was told my monthly repayment costs was £96.36 thats all so im stuck with a loan 17.9 % apr i dont know what type of loan it is from the statement it seems i pay back so much of the loan each month and so much ppi as my statement doesnt go down by my full payment each month i was wondering if i had any chance of claiming back the ppi i have paid already. if so how would i go about it.

Any help would be appreciated.

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Originally Posted by moo-moo

i took out a 5 year loan in 2004 for £3000 with Lloyds tsb i did have an original loan but upped the amount by a thousand was previously £2000 i was naive at the time didnt know anything about interest rates or anything , i wasnt explained the interest rates or told that i was having PPI added on i was told my monthly repayment costs was £96.36 thats all so im stuck with a loan 17.9 % apr i dont know what type of loan it is from the statement it seems i pay back so much of the loan each month and so much ppi as my statement doesnt go down by my full payment each month i was wondering if i had any chance of claiming back the ppi i have paid already. if so how would i go about it.

Any help would be appreciated.

Hello Moo,

Welcome to the forum, please read the important information in the sticky reclaiming back ppi there is so much information there.

Please read about the threads on the forum, it will give you an insight into the mis-selling of ppi, there are people like yourself starting off, those in the process of reclaiming, some going through the fos and those in the court process, and those who have been successful.

Spent some time reading and educating yourself and if you need help shout.