Clueless and unsure of footing

tvirus

So
Around 2002 I took a loan with HFC - was told the PPI would make it go better after an initial rejection then had to go with a guarantor in the form of my father as well.

Loan accepted and after a short while it got into problems. Ended up consolidating it into an interest free repayment plan for the total of the loan which I only just finished paying up.

Did ask them about the PPI a few months ago and they sent me proof that the most recent form the loan took was not PPI orientated. Not really what I asked them.

I would like to know if I pursue getting details for this original loan with PPI that was from some time ago what are my chances of getting anywhere and if so what form should my action take? It was for quite a bit. From a loan of just over a couple of thousand I ended up repaying over 6000 in the end.

Any advice appreciated.

tvirus

Some more detail:

The loan was moved to it's most recent form in 2002 and was for 6174 - they say they don't have any details of what form the loan took prior to the new agreement and would have no records.

Do I have a leg to stand on? I know I was told to take PPI to increase my chances. Why wouldn't a financial institution have a record of this?

[Deleted User]

As your original loan defaulted and the Bank agreed to an interest free repayment of the outstanding amount, any PPI redress (should it be awarded) would go towards the amounts which the Bank wrote off in order for you to settle.
http://www.moneysavingexpert.com/banking/setting-off

The recommended number of years for keeping records of past finance is six years, so if you don't have details in your own archive and the Bank don't then any complaint cannot proceed.

Time to move on from this...

-taff

Just becasue you paid back 6,000 it doesn't follow that any of that was PPI.

If you want to find out if there is documentation left, you send a SAR and £10 - see the front page for a template.

By the way, an interest free repayment plan doesn't sound like 2,000 should have turned into 6,000. Did you owe that much to start with in total~?

amersall

As your original loan defaulted and the Bank agreed to an interest free repayment of the outstanding amount, any PPI redress (should it be awarded) would go towards the amounts which the Bank wrote off in order for you to settle.
http://www.moneysavingexpert.com/banking/setting-off

The OP did not have any amounts written off so if they can find the details of the first loan the PPI would have been paid on this.

Ended up consolidating it into an interest free repayment plan for the total of the loan which I only just finished paying up.

amersall

It may have been on the first loan, this is what the OP is referring to taff.
You could be correct of course, that there was no PPI on the original loan unless the balance was higher initially depending on the payments already made before it changed to an interest free loan.

It is also possible, that the PPI was removed from the original loan when it was changed.

[Deleted User]

amersall wrote: »

The OP did not have any amounts written off

If they paid back the money owed without interest then this is clearly money written off. This is money they'll very likely want to set off, if any details of the loan are still documented.