Would we qualify for claiming back ppl on loan

maggiecon

Hi

Just wanted some advice, my boyfriend bought a van 2 and half years ago for £4000. he is a self employed joiner. At the time he was told if he takes out the insurance and loses his job he would have the loan payed for him.

Now that he has no work the bank are saying that he needs to declare himself bankrupt to qualify but he isnt bankrupted.

I want to sell the van and asked for a settlement figure and they are saying that we still owe £3000 over the next year and half. so after two and half years we have only paid off £1000 of the loan.

My boyfriend does not know what he done with the original paperwork when he took out the loan will this matter.

Thanks for any advice.

di3004

maggiecon wrote: »

Hi

Just wanted some advice, my boyfriend bought a van 2 and half years ago for £4000. he is a self employed joiner. At the time he was told if he takes out the insurance and loses his job he would have the loan payed for him.

Now that he has no work the bank are saying that he needs to declare himself bankrupt to qualify but he isnt bankrupted.

I want to sell the van and asked for a settlement figure and they are saying that we still owe £3000 over the next year and half. so after two and half years we have only paid off £1000 of the loan.

My boyfriend does not know what he done with the original paperwork when he took out the loan will this matter.

Thanks for any advice.

Hello there


I would start by requesting a Subject Access Request (SAR), they must send copies of everything they hold on the account by 40 days of request, there is a charge of £10 for this, you can pay this by postal order or cheque payment, and post by recorded delivery for your proof of posting.
Template SAR letter with details on link here:
http://forums.moneysavingexpert.com/showthread.html?t=1475553

When you receive the paperwork, check the terms and conds of the policy and in regards of reclaiming which you can still continue whilst waiting for the SAR, just as long as there is an account number, link below of guidelines of reclaiming, templates, checklist of mis selling reasons, they have 8 weeks in full to respond, and again post by recorded delivery.
You actually write to the ones who sold the finance:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Wishing you luck, and please keep us posted.;)