Can I claim back PPI

Bruiser1980

Hi there very new to this and tbh not sure where I stand on this matter.

Will be as honest about this as I can as I need to know if I can pursue this matter or not.

In 2003 I got a loan of around £1500-£2000 from Blackhorse Finance (Part of Lloyds group I think). Anyways at the time I had to go into their office to go over the loan etc.... after 20mins or so the loan officer said to me that he was pleased to tell me they could offer me a loan BUT only if I agreed to take out PPI on the loan. Being a young lad at the time I thought nothing of it and happily signed the paperwork to get the money in my account so I could go on holiday with my mates. Now over the course over the next few years I will be the first to admit I DID miss a payment here and there on my loan but on the whole I made my payments to them. I then lost my job and couldnt afford to keep up with payments (never claimed on insurance during that time). they were always hassling me for payment depsite me saying I couldnt afford to pay anything, anway rightly or wrongly I ended up hiding from them and paying nothing for around 12-18months. They then got hold of me and I agreed to start paying again after I got a copy of my origianl contract and copy of all my paymnets as I was disputing the amount they said I had owed them. Anyway once it arrived it turns out I had paid them just short of £4,000 for my loan and yet they claimed I still OWED them a further £3,500 or so.I told them that this couldnt be correct and they said that they had thrown charges on my account and when I missed a payment and paid the follwing month I was merely just paying interest from the missed payment rather than anything towards my loan balance. At that point I let them know that there was no chance they would get another penny from me as I had already paid back more than the original payout figure. From that day I havent heard anything from them.

CAn I just add that this loan was a top-up of a previous loan I had from them which may have had PPI on it but tbh I can remember

Would I be able to try and get my PPI back or would they dispute that I still owe them money? I dont want this coming back up again after hearing nothing for a few years but at the same time if I am owed money I would like it .

Sorry for the long story but as I said I wanted to be as honest as possible so someone could advise me on this matter. Thanks for your time

dunstonh

Would I be able to try and get my PPI back or would they dispute that I still owe them money?

You can still complain but you wont get any of the redress payment as they can use that to offset what you owe them. Only if there was a surplus would it do that.

Also, if it has gone quiet, you would be giving them a reason to start coming after you again for the amount you owe. So, in this case, it may be better to not give them an excuse. There is no timebar on complaints. So, if they do come after you later, you can always complain then.

di3004

Hi and welcome

Hopefully someone will post soon with some useful advice for you in regards of this matter, but in my opinion you can still make a reclaim on the PPI, and try getting back what you did make to the account of PPI.

However, they will likely use anything owed towards any outstanding amount still due.

In regards of the charges though, maybe you could deal with this as a separate complaint, under then the hardship criteria, as obviously its added up over the years with the missed payments as such.

What you could do is try to keep these matters separately, tackle the charges on the charges thread below.
http://forums.moneysavingexpert.com/forumdisplay.php?f=102

Ask for help on that above link and maybe when you write to them about the charges.

And to make a reclaim, complete the reclaim questionnaire below, as on step 3.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step3

Please wait for other opinions on this though as well.

Wishing you luck.;)

di3004

Cheers Dunstonh, sorry for also missing your post.;)