Can I claim PPI if my debt has been sold to another company?

[Galina]

Hello,

I wonder if anybody can help me. I had 4 cards - 3 with Barclaycard, and 1 with MBNA, for many years. I stopped making monthly repayments in 2012, and the debt had been sold on by the creditors to MKDP and PRA Group. I have recently agreed minimum monthly repayments with all the current creditors, and have made the first payments. I would like to ask if I can claim back the PPI from the original lender, or should I address the issue with the current creditors? Do I stand any chance of getting anywhere with it? This could reduce my debt, possibly substantially. Many thanks!

Galina

[EXC]

Re: Can I claim PPI if my debt has been sold to another company?

You should always complain to whoever sold you the PPI. That the debt the PPI was attached to was sold to someone else is irrelevant to the consideration of who is responsible for any mis-sale.

[Galina]

Re: Can I claim PPI if my debt has been sold to another company?

You should always complain to whoever sold you the PPI. That the debt the PPI was attached to was sold to someone else is irrelevant to the consideration of who is responsible for any mis-sale.

Thank you so much for this! I will now submit complaints for all the 4 cards. The only problem is that I don't have records of how long I paid the PPI for, since I hold no records of the statements, etc. Does it matter? Is the lender obliged to provide me with the records even though they no longer hold the debt? Is there a time limit on submitting such complaints? Thank you again!

[EXC]

Re: Can I claim PPI if my debt has been sold to another company?

The original lender should hold statements for at least 6 years.

Before you make the claims it might be worth sending a Subject Access Request to each lender, making it clear that you expect it to include statements of each account. It will cost £10 per request but you should get all the data that they hold on you.

[FlamingParrot]

Re: Can I claim PPI if my debt has been sold to another company?

Thank you so much for this! I will now submit complaints for all the 4 cards. The only problem is that I don't have records of how long I paid the PPI for, since I hold no records of the statements, etc. Does it matter? Is the lender obliged to provide me with the records even though they no longer hold the debt? Is there a time limit on submitting such complaints? Thank you again!

Yes, if you send a SAR as EXC says above, they are obliged to respond within 40 days. It doesn't matter whether they've sold the account or even if it's paid off, they still have the obligation to send all data they hold about you, including all statements. You should get at least six years worth of documents, some people have been lucky to get them for much longer than that. :thumb:

[Galina]

Re: Can I claim PPI if my debt has been sold to another company?

The original lender should hold statements for at least 6 years.

Before you make the claims it might be worth sending a Subject Access Request to each lender, making it clear that you expect it to include statements of each account. It will cost £10 per request but you should get all the data that they hold on you.

Thank you very much!

[Galina]

Re: Can I claim PPI if my debt has been sold to another company?

Thank you to all of you who are helping me! I have another question... I know that many banks set a time limit for submitting PPI claims. Does it mean that they can reject my claim, since I am sure I am well past any deadlines set by them?

Also, is there a link to a template of the initial letter (I understand it is called Subject Access Request?) to send to a bank requesting information referring to PPI? What should I ask for in order to support my claim? I'd hate to miss out on anything!

[EXC]

Re: Can I claim PPI if my debt has been sold to another company?

Technically it's 6 years from the point you were sold PPI or 3 years from the point you could have reasonably become aware that there was a mis-sale of it, but I wouldn't worry too much about that at the moment.


Info on SARs here which will give you the basic idea & template which you'll need to edit to suit http://www.legalbeagles.info/forums/...Protection-Act-)

Bear in mind that an SAR will cover all the personal data that the company holds on you so you need to state clearly that you expect to receive all the credit card statements that they hold as well as everything else.

[Galina]

Re: Can I claim PPI if my debt has been sold to another company?

Technically it's 6 years from the point you were sold PPI or 3 years from the point you could have reasonably become aware that there was a mis-sale of it, but I wouldn't worry too much about that at the moment.


Info on SARs here which will give you the basic idea & template which you'll need to edit to suit http://www.legalbeagles.info/forums/...Protection-Act-)

Bear in mind that an SAR will cover all the personal data that the company holds on you so you need to state clearly that you expect to receive all the credit card statements that they hold as well as everything else.

Thank you so much for this!

[Galina]

Re: Can I claim PPI if my debt has been sold to another company?

Hello,

I wonder if anybody can help me. I had 4 cards - 3 with Barclaycard, and 1 with MBNA, for many years. I stopped making monthly repayments in 2012, and the debt had been sold on by the creditors to MKDP and PRA Group. I have recently agreed minimum monthly repayments with all the current creditors, and have made the first payments. I would like to ask if I can claim back the PPI from the original lender, or should I address the issue with the current creditors? Do I stand any chance of getting anywhere with it? This could reduce my debt, possibly substantially. Many thanks!

Galina

I have just found this link which some of you reading the thread may found useful: http://www.which.co.uk/consumer-righ...m-ppi-for-free

[EXC]

Re: Can I claim PPI if my debt has been sold to another company?

The best way to complain is not to write a letter but use the FOS Consumer Questionnaire http://www.financial-ombudsman.org.u...notes/ppi.html