Payment protection Query

pitstop37

Hi, I would like to know if it is possible for me to claim my PPI back, I took a loan out in 2000 which was for a term of five years, nothing was mentioned about the PPI it was just included. I am self employed, later that year I tried to put a claim in but hit obstacles such as having to prove I was actually WORKING. So I never did make any claims. Or am I to Late?

marshallka

So when it was included did you think it was compulsory to the loan? If it was and no options were given to you then I would think it could be seen as missold.

Take a look through Martins guide here.

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

If you still think it was missold to you then write a letter to the firm that sold you the insurance stating your reasons why. There are templates in the guide but probably best to make your own letter from the templates and then send by recorded delivery.

You then give the firm 8 weeks for a full and final response and take it from there.

Who was the loan with? If it was a bank or GISC (general insurance standards council) member then you would be free to use the FOS if they not uphold your complaint.

pitstop37

Thanks. It loan was with barclay's and it was a business loan does this make any difference? I wasn't given any options.

marshallka

pitstop37 wrote: »

Thanks. It loan was with barclay's and it was a business loan does this make any difference? I wasn't given any options.

Not too sure on this one but i am sure someone will post a reply. I will try and find out in the meantime.

Claims_Manager_Rep

nothing to stop you claiming it back. Presumably it was paid off in 2005? As they are a deposit-holding bank the FOS will look at it if required. If you do not have a copy of the paperwork Barclays will have it (they have to keep a copy for a minimum of 6 years from when the loan was finished) good luck