Surely it would only be a good case if the lender didnt advise him of not covering pre-existing medical conditions - which they are sure to say they did.

But yeah, definately cancel it if you want YETSNA - although after nearly 2 years you may have already paid most of the premium, as it is usually front loaded in a the same way as interest is.

Yes you should cancel the cover becuase you can't claim on it now other than the life element

Also you should ask for all of your premiums back as you could have a good case for being misold, unless you applied for the insurance over the internet.

Call in and complain, see moneysavingexpert website for help with this.

Cerbius

Hi Juan,

Thankyou for your reply. Yes, i have loan protection, but, and as usual there is always a ,'but'... prior to me taking out the loan, i happened to have gone to the doctors for the same medical reason i have now. I have been off work for 6 month now, and 3 months ago, tried to claim on my protection,naturally worried about finance, but was declined because i had been ill within 2 years prior to taking out the loan. I find this absolutely ludicrous, and wonder what i am paying my loan protection for now? it isn't any good to me is? Shall stop? I also will follow up your advice and ring Loansdirect.

Thanks,

N.Daniels

I'm with LLoyds TSB, and took a £7000 loan out Sept 2006. A year on, i am still no further in paying it off, and seem to be just paying off the interest, which they keep adding on. I've just lost my full time job on medical grounds, and can only pay £15 per month, I cannot make the £171.00 payment they require every month. Legally, will they have to accept the amount i propose to pay them, as i do not see my circumstances changing as of yet, and am very worried.

Thankyou