can i reclaim ppi on time barred loans

historytom · 30 April 2017 at 3:09PM

Hi, can anyone offer any help?
In the 90s I had several loans from TSB. My personal circumstances suddenly changed and I defaulted on these loans (around 1996).
I understand that as I have had no contact with the TSB since then, these loans are now statute or time barred.
I have the original paperwork which shows I was paying PPI on these loans.
My question is: Should I try to reclaim this PPI and, if I do so, will it "re-open" the loans time-bar, or should I just forget about claiming and leave the loans in their "dead" state?

molerat · 30 April 2017 at 4:53PM

You can try to claim the ppi but they will use it to pay the debt. Just because the debt is statute barred does not mean it does not exist (except in Scotland), they just cannot enforce it through the courts.

PSW · 30 April 2017 at 7:20PM

molerat wrote: »

You can try to claim the ppi but they will use it to pay the debt. Just because the debt is statute barred does not mean it does not exist (except in Scotland), they just cannot enforce it through the courts.

Unless the debt has been sold, which seeing as its statute barred there's a good chance it is. Whether it's morally right to make a complaint for ppi on an unpaid debt is another question altogether.

historytom · 19 May 2017 at 6:30PM

I took these loans out in Scotland. Does that make a difference?

can i reclaim ppi on time barred loans

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