PPI FAQs discussion thread

Loobyloo1us

Found it. Thanks for your help.

Loobyloo1us

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Did that and have now received a letter saying that the claim against the mortgage had been rejected as we moved to Halifax 19 years ago, and a further 4 envelopes with forms to complete for the loans/credit card.

Sorry should correct that we moved to Hallifax 10 years ago not 19.

traceytrccn

I sent a letter to my bank First Direct requesting details of my credit agreement with them which was closed 12 April 1999 as I have no paperwork and am sure I had PPI on the loan. They have replied stating that they are only required to provide information relating to a loan pursuant to section 77 of the Consumer Credit Act 1974 where some sum in respect of that loan is, will or may become payable. Accordingly, where a loan has been fully repaid, whether by way of a refinancing or otherwise, we regret that we are unable to provide information relating to that loan in response to any request which is made pursuant to that legislation. Where do I go from here?
Am I wasting my time because of how old the loan is or should I pursue it?
Any help would be greatly appreciated Thank-You.:)

dunstonh

They have replied stating that they are only required to provide information relating to a loan pursuant to section 77 of the Consumer Credit Act 1974 where some sum in respect of that loan is, will or may become payable.

This is correct. Although I thought it was section 78.

Where do I go from here?

You used the wrong method. The £1 Section 78 CCA method only applies to debts still outstanding. For repaid credit you need to use the £10 DSAR method as described in the guides on this site.

Or you can just ask FD if you had PPI.

fermi

dunstonh wrote: »

This is correct. Although I thought it was section 78.

s78 is Duty to give information to debtor under running-account credit agreement.

s77 is Duty to give information to debtor under fixed-sum credit agreement.

But yes, it says that:

3) Subsection (1) does not apply to—

(a) an agreement under which no sum is, or will or may become, payable by the debtor, or

(b) a request made less than one month after a previous request under that subsection relating to the same agreement was complied with.

A loan finished/paid off falls under that exemption clause.

-taff

You either ask them or send a SAR and £10 to find out what paperwork is left.

traceytrccn

Thank-You for your help shall do that.:rotfl:

westham11

I remember being sold PPI for a couple of loans in the 90's. I don't have the paperwork and I don't remember dates or loan amounts but I do remember the feeling of not likely to be accepted for the loan if I didn't have the PPI. This almost doubled the repayment amount. Something that I was never happy with but like I said, I was made to feel that if I didn't have PPI, I wouldn't get the loan. It's so long ago I don't hold much hope of winning this one. I've been lead to believe that a "Reclaim PPI" company can go back 35 yrs. Is this true?

amersall

Banks cannot go back that far never mind a Claims co!!!!.
Unless the bank has info, most unlikely after all this time, you cannot take this forward.

Insider101

westham11 wrote: »

I remember being sold PPI for a couple of loans in the 90's. I don't have the paperwork and I don't remember dates or loan amounts but I do remember the feeling of not likely to be accepted for the loan if I didn't have the PPI. This almost doubled the repayment amount. Something that I was never happy with but like I said, I was made to feel that if I didn't have PPI, I wouldn't get the loan. It's so long ago I don't hold much hope of winning this one. I've been lead to believe that a "Reclaim PPI" company can go back 35 yrs. Is this true?

You've been led to believe a load of nonsense, probably I am guessing by CMC representatives.

If you are going to make a complaint and want it to be investigated then in order for that to happen, either yourself, the lender or both need to have records of the policy (if you have evidence to support your complaint then this helps). If this is not the case then there is nothing to investigate.

CMCs do not have access to your records, though they may claim they do this is nonsense propogated in order to secure sales. All they do is represent you in any complaint you choose to make (I use the term represent loosely as generally their "service" does not consist of anything more than sending a standardised letter and waiting for the lender to investigate). This doesn't change the fact that if there are no records held then a complaint cannot be investigated.

As regards your complaint reasons, you are going to have to be a lot more specific in any case. Whilst, if you sound credible and believable, the lender may take your word for it, statements like "I do remember the feeling of not likely to be accepted for the loan if I didn't have the PPI" are far too vague to be taken as credible. You would need to be able to specify what was said or done to give you this impression, when and by who. Do note that just "not being told it was optional" is not sufficient grounds for complaint if nothing was said or done to make you believe that it wasn't.

As regards the time frame, depending on the lender(s) you may be lucky and they may still have records of the loan/policy. Best to ask them and see.