PPI refund / unknown arrears ?

mutley66

Hi, I used Lloyds black horse for a few loans back in early & mid 2000's. the first was in 2003 approx £10k for a caravan (over 6 years). In 2008 I opted to hand back the goods as I had paid over 50% of the amount. This was done without a problem but black horse insisted I continue paying the ppi pay,nets until paid off which I agreed.In 2004 I took out a small loan of approx £500 and in 2005 black horse offered me a new loan and the outstanding balance of the previous years was added to this. Both these loans also has ppi. I always paid all three loans on time and never missed a payment.


I have recently claimed a ppi refund (of approx £4k) for the original loan for the caravan. I then received a letter from black horse advising because the two loans in 2004 & 2005 were 'joined' they may have mis sold ppi and suggested I claim for this.


I put my claim in and they have confirmed I will be offered a refund of £267 after a deduction of £1413 for arrears on the 2005 loan. I am genuinely stunned as I was not aware of any arrears, I have moved twice since 2003 but they had my address's as I had to organise the return of the caravan with them back in 2008. In all this time they have NEVER said anything about any arrears, and I still bank with them.


Someone has advised me about the loan being 'unenforced' because of the time period? But mention the possibility of the 'debt' still being passed onto debt collection agencies to peruse?


I need to know how to deal with this as I am very annoyed to be told 8 years on that I have arrears? That black horse have made no effort to let me know about this (thinking back, the office I dealt with for my loans was a compete shambles for admin and I know wonder if they have somehow messed up way back in 2005 and have just realised now) and I need to know if what they are telling me is correct about taking the arrears off the ppi refund?


Any advice would be much appreciated.

[Deleted User]

Mutley66 wrote: »

I need to know how to deal with this as I am very annoyed to be told 8 years on that I have arrears?

I'd just be thankful the unpaid debt wasn't passed to a debt collection agency.
Setting off rules here;
http://www.moneysavingexpert.com/banking/setting-off

There is nothing you can do other than accept that £1413 is going towards your unpaid debt, whether you were actually aware of this is completely irrelevant.

-taff

Mutley66 wrote: »

Someone has advised me about the loan being 'unenforced' because of the time period?

Yesm there was the possibility you could have gone ofr an unenforceable debt due to the amount of time that passed, but by cmplaining about the PPI you re-awakened the debt, so you can't go for unenforceability.