Lloyds tsb mis sold loan

[Piercedlady82]

Looking for advise where to start disputing a loan I was approached with in 2009? I was approached for this loan, I already had a loan which I was paying back nicely. It's literally ruined my life. Cheers

[Snoopy1948]

Re: Lloyds tsb mis sold loan

Hi Piercedlady82 and welcome ...

I assume that you are maintaining that the new loan was mis-sold due to the fact that repayment took you out of your financially 'comfort zone' and you feel that the Lloyds advisor therefore sold you a product that was financially unmanageable? Have you personal or financial circumstances changed since you took this loan out?

Is there any other reason why you feel the loan was mis-sold? Have you written to Lloyds complaints department making them aware that you feel the loan was mis-sold and the reasons for it? There is no reason why you shouldn't do that, you don't have to use an agent ( that will cost you anyway ) but you must have a clear outline as to the nature of your complaint. My only concern is that you were able to afford the loan at the time you took it out and things may have changed since then. That would leave the option to agree a rescheduling of payments to make them more affordable, assuming that you have no complaint.

If this is causing you stress ( you did say 'It's literally ruined my life' ) then perhaps other finances are suffering and you may benefit with some overall money advice, starting with your local Citizens Advice Bureau.

https://www.citizensadvice.org.uk/