Cancelling PPI - need urgent advice

baggio_2

I have requested that my bank cancel my PPI and refund all previous PPI payments.

They have now said that they have lost the original agreement and have asked whether I have a copy. While I do have a copy I am reluctant to give them a copy as I feel that I am in a stronger position if I do not provide it.

Anybody else think that I should tell them that I have not got a copy?

regularsaver1

Hi are you saying the ppi was mis-sold? as this is usually the only time that previous ppi payments will be refunded

if you say you do not have a copy it could possibly penalise you rather than do you good

jonesMUFCforever

If they cannot find the loan agreement then the whole of the loan is unenforceable.
They cannot sue you for non payment if you turned round and say I will not repay this loan.
Use this to your advantage to see if they suddenly 'find' the paperwork.

baggio_2

Hi there,

I am not saying that I do not have a copy, the bank are stating that they cannot find their copy of the agreement. I have a copy but have not yet acknowledged this to the bank as I feel the loan may now be unenforceable.

Also, the PPI was missold and that is why I requested the repayment.

jonesMUFCforever

Don't tell them that you have a copy. It is up to them to keep the official documents. Use this information to 'force' the issue regarding PPI as this is a cheaper option for them rather than losing the whole loan balance.

Inside_Man

very true baggio if they have lost the loan agreement then there is no physical proof that u have the loan except the copy u have, if u tell them u have misplaced ur copy then in theory the loan is unenforceable and makes ur case for a mis-selling of PPI all the more easy as they will be unable to prove otherwise