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In 2008 Lloyds TSB advised me to amalgamate two company loans into one as an Optional Business Loan.

This was underwritten by an Optional Business Loan Repayment Insurance over 72 months. The company went into administration and subsequent liquidation within eight months of the onset of the loan being taken. Insurance premiums were paid upfront before securing the loan.

 

Second charges were taken on two of my properties.

  • Should the Insurance have paid out?
  • If so, to whom? Liquidator or LloydsTSB
  • Should it have been paid for the full term of the loan?
  • Does LloydsTSB have a right for possession of either/or properties if insurance does not pay out?

I am curently being pursued by the bank for possesion of my house for non payment

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