Sudden letter from bank, offering review of PPI

[Captain Haddock]

OH got a letter recently from her ex bank, offering a review of PPI on a card she once had. There was a balance on said card which was SB'd as of last year and she's puzzled by this sudden approach. There was a raft of forms attached to fill in re the original PPI complaint (neither of us can remember it) though it did state she did not need to fill all the details in again.

TBH, neither of us can be bothered tackling that bank again and the money is not worth the grief. Am I correct, though, in thinking that any contact re this account cannot restart the clock on that debt.

[R0b]

Re: Sudden letter from bank, offering review of PPI

Don't suppose it has anything to do with this does it

http://www.bbc.co.uk/news/business-28983267

[nemesis45]

Re: Sudden letter from bank, offering review of PPI

OH got a letter recently from her ex bank, offering a review of PPI on a card she once had. There was a balance on said card which was SB'd as of last year and she's puzzled by this sudden approach. There was a raft of forms attached to fill in re the original PPI complaint (neither of us can remember it) though it did state she did not need to fill all the details in again.

TBH, neither of us can be bothered tackling that bank again and the money is not worth the grief. Am I correct, though, in thinking that any contact re this account cannot restart the clock on that debt.

Once a debt becomes statute barred that status cannot change! In England and Wales a statute barred debt remains collectable by any means bar court action unless you inform the creditor in writing that the debt is statute barred..
The banks are under pressure to contact all customers often it seems even if there was no PPI ( which has happened to me) in my opinion it would be silly not to take advantage of any available refund.

nem

[Captain Haddock]

Re: Sudden letter from bank, offering review of PPI

I heard about the FCA decision last year but I never gave it any thought. I do know that we both had a secured loan on our property (since paid off) that we were only allowed if we accepted monthly PPI premium. Later, we noticed that that was added into the total and I have just remembered that I discussed this over at another site.

I still smell a rat but will dig out the paperwork. I just think they are going through the motions.

[FlamingParrot]

Re: Sudden letter from bank, offering review of PPI

OH got a letter recently from her ex bank, offering a review of PPI on a card she once had. There was a balance on said card which was SB'd as of last year and she's puzzled by this sudden approach. There was a raft of forms attached to fill in re the original PPI complaint (neither of us can remember it) though it did state she did not need to fill all the details in again.

TBH, neither of us can be bothered tackling that bank again and the money is not worth the grief. Am I correct, though, in thinking that any contact re this account cannot restart the clock on that debt.

You are correct, once a debt is statute barred it cannot be 'un-barred' in any way, not even by making a payment, however, SBd doesn't alter the fact that any redress can be offset from the outstanding amount so it would go towards reducing a debt that you no longer have to pay. :ohwell: If the debt has been sold to a debt purchaser the redress could well be paid to yourselves rather than offset from the account though. :thumb:

[Berniethebolt]

Re: Sudden letter from bank, offering review of PPI

I know you are in Scotland, is the account from a time your OH lived there. If it is SB the debt is apparently extinguished.
If you are under Scottish law any reliance on E&W law is pointless

[FlamingParrot]

Re: Sudden letter from bank, offering review of PPI

I know you are in Scotland, is the account from a time your OH lived there. If it is SB the debt is apparently extinguished.
If you are under Scottish law any reliance on E&W law is pointless

I didn't realize the OP was north of the border, I don't see any mention of it on this thread. :noidea:

[EXC]

Re: Sudden letter from bank, offering review of PPI

I heard about the FCA decision last year but I never gave it any thought. I do know that we both had a secured loan on our property (since paid off) that we were only allowed if we accepted monthly PPI premium. Later, we noticed that that was added into the total and I have just remembered that I discussed this over at another site.

I still smell a rat but will dig out the paperwork. I just think they are going through the motions.

The letter is most likely related to customer contact exercise banks are required to undertake under the root cause analysis requirements in FSA policy statement 10/12. It was a major bone of contention in the PPI judicial review.

Basically where banks are upholding large numbers of complaints in certain tranches of PPI sales they're required to contact non-complainants to offer a review of the sale.

[Berniethebolt]

Re: Sudden letter from bank, offering review of PPI

I didn't realize the OP was north of the border, I don't see any mention of it on this thread. :noidea:

I only noticed because of another thread about a housing issue .

[Captain Haddock]

Re: Sudden letter from bank, offering review of PPI

Sorry, guys, I should have stated Scottish residency.

It does appear that this approach is indeed associated with the paid-off tied loan. I am puzzled why my name is not mentioned in the documentation as we were both dual signatories.