Historic PPI Claims - any chance?

Bassetlaw_Badger · 24 April 2014 at 5:32PM

I was wondering if we might have any chance at a claim for a PPI problem back in the late 1980s?

My dad took a loan out with the then Midland Bank and was basically told he had to take out the PPI, which he said he didn't want. When he was later made redundant and paid off the loan early he was made to pay the PPI for the entire loan life even though he no longer had the loan. This resulted in a huge argument with the bank and ultimately him ending his life long relationship with them.

It strikes me as this would be exactly the kind of situation that should warrant a claim, but without any paperwork is there any chance whatsoever of writing to the bank?

Any advice would be good.......

dunstonh · 24 April 2014 at 6:02PM

You dad is entitled to complain to the bank. Although whether they have records is going to be the key problem.

Also, is he sure it was PPI. Bank loans with PPi include the PPI within them and are not standalone plans. So, if the loan is repaid early, the PPI ceases as well. What you describe doesn't fit that and suggests a standalone plan was used. In the 80s, the banks often insisted on life assurance as a condition of lending. These were always standalone plans. So, was it perhaps life assurance rather than PPI?

Historic PPI Claims - any chance?

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free