PPI on Loans/CC more than 6 yrs ago?

[Turboman]

Hi

I 've had a PM that asks me if PPI can be claimed from Loans around 1999?

I've been not keeping up to date lately so have raised this thread so all opinions and facts are in one place----as I have seen a few comments in various threads--but I think it would be useful to have a special thread for newbies to read re above subject

Turbs

[Caspar]

Re: PPI on Loans/CC more than 6 yrs ago?

The issue is not with there being a time limit on reclaiming, it's to do with the requirement on the companies to keep records before destroying them.

FSA's DISP rules says rcords can be destroyed 6 years after sale and 3 years after knowing of a problem. This obviously makes it harder as -eg- an SAR to the company would not show ppi was sold if the records have been destroyed. This does not stop an individual proving they paid ppi so it must have been sold to them.

[pompeyfaith]

Re: PPI on Loans/CC more than 6 yrs ago?

Turbs,

Sure you can, as A rule of thumb I say that you can claim back as far as you have proof off, there is nothing in law that says you cant.

Creditors try to use the limitation act on this one, but that only says you have 6 yrs to make your complaint not how far one can claim back too.

Regards

[pompeyfaith]

Re: PPI on Loans/CC more than 6 yrs ago?

Casper indeed thats why I say claim back as far as you have records for, however on the destroying of documents the laundering act says that they must be kept for 12 yrs for HMRC use.

I used that to get an agreement dating March 1999

Regards

[di30]

Re: PPI on Loans/CC more than 6 yrs ago?

Turbo, yes I did and was recently successful.
That one was actually in 1999 and now I am going to deal with even older cases shortly on the last 2 reclaims via Lloyds from 1996 to 1998.

[nelliewops]

Re: PPI on Loans/CC more than 6 yrs ago?

Hi Turbo,

Yes, I too have successfully reclaimed on a loan from 1999 (for which I still had the paperwork) and have just had an offer from LTSB on a much earlier one that I only have the barest of info for and for which the bank originally claimed didn't exist

Nellie xxx

[Sapphire]

Re: PPI on Loans/CC more than 6 yrs ago?

I've still got the paperwork for PPI on a car loan with Welcome from 30/6/1999 £614.58 over 36 months, when I called them at FCSC I was told it was time barred.

So peeps what do you think, shall I go for it, and can one of you maths geniuses work out how much is due please ?

[di30]

Re: PPI on Loans/CC more than 6 yrs ago?

I've still got the paperwork for PPI on a car loan with Welcome from 30/6/1999 £614.58 over 36 months, when I called them at FCSC I was told it was time barred.

So peeps what do you think, shall I go for it, and can one of you maths geniuses work out how much is due please ?

Sapphire, give it a go, you still have the paperwork and that helps a great deal.

If the FSCS are not able to deal with it, then the FOS will consider taking it to the underwriter/insurer to try to retrieve your money back to you. x

[Turboman]

Re: PPI on Loans/CC more than 6 yrs ago?

I've still got the paperwork for PPI on a car loan with Welcome from 30/6/1999 £614.58 over 36 months, when I called them at FCSC I was told it was time barred.

So peeps what do you think, shall I go for it, and can one of you maths geniuses work out how much is due please ?

Sapphy----yes go for it----but start a separate thread just for you--remind me who FCSC are btw---been taking a sabbatical for 4 months-lol

-post up in first post:

Date of first payment
No of Payments
Amount of the PPI Loan/Amount of the Cash Loan/Total Loan
Amount of the PPI Monthly/Amount of the Cash Loan Monthly/Total Monthly
APR if you have it


In parallel with me working out the sums-you need the questionairre sending off---see events in this thread where Deller is being advised on procedure by Di & Debt Star

PPI claim against Black Horse Finance - Where do I start?? - Page 3 - Legal Beagles Consumer Forum

[mosten]

Re: PPI on Loans/CC more than 6 yrs ago?

FSCS if you are successful will only pay 90 percent of the claim and will not pay 8% interest on the claim...

Please check on the welcome finance thread which shows welcome are in default and FSCS are assisting with the claims..

If you have a current loan or arrears with them they will also offset any reward against this as per their own rules..

I think welcome were regulated some time in 2002/2003 so it won't be easy to do this claim since FSCS as you will read on other thread are a nightmare to deal with..

I know welcome are suppossed to be dealing with anything taken pre 2005 but sure FSCS are over seeing this... good luck but believe me, you will need it ...