Would I have defaulted

collythorn

Hi I had a default registered on my credit report back in 2006 for £17,000. Not long after I had my PPI payments refunded to me which then made the debt just over £10,000 lots of other things to ask but is it not true to say that if the payments for the loan hadn't been so high due to the PPI payments, might I not have defaulted in the first place?

miketaff1408

collythorn wrote: »

Hi I had a default registered on my credit report back in 2006 for £17,000. Not long after I had my PPI payments refunded to me which then made the debt just over £10,000 lots of other things to ask but is it not true to say that if the payments for the loan hadn't been so high due to the PPI payments, might I not have defaulted in the first place?

No. Not true. You would have known the monthly payments due (including PPI payments) when you started the loan, and agreed to them. You then didn't keep up these agreed payments. End of story. No ifs, no buts.

RobertoMoir

collythorn wrote: »

Hi I had a default registered on my credit report back in 2006 for £17,000. Not long after I had my PPI payments refunded to me which then made the debt just over £10,000 lots of other things to ask but is it not true to say that if the payments for the loan hadn't been so high due to the PPI payments, might I not have defaulted in the first place?

Well no. That's a ludicrous claim.
You agreed to the loan. You agreed that you could pay the monthly amount, including the PPI (and if you could not then you shouldn't have agreed to the loan in the first place). You then stopped paying for whatever reason.

Notice how it all comes down to what you did or did not do? The PPI may well have been miss-sold to you in the first place but that doesn't absolve you of all your responsibilities.

Apples2

And if my Auntie had nuts she'd be my Uncle.

If I hadn't chosen the wrong numbers on Friday I would be a lottery millionaire so they should cough up .

Is there any straw people won't grasp?

DCFC79

Apples2 wrote: »

And if my Auntie had nuts she'd be my Uncle.

If I hadn't chosen the wrong numbers on Friday I would be a lottery millionaire so they should cough up .

Is there any straw people won't grasp?

Camelot should definitely cough up, they ahve deprived you of a win.

Eonel

DCFC79 wrote: »

Camelot should definitely cough up, they ahve deprived you of a win.

+ compo for the emotional distress.

+ 8% interest.

KingElvis

A classic thread of barking otter logic.

bargainbetty

*facepalm*

AlexLeigh

I see where you're coming from here. But if you agreed to the original loan repayments and you met the lenders criteria for affordability then it might be a difficult one to argue.

If however, you did, and you won, then this could smash up the PPI claims problems to a huge extent!