Can I Claim PP Overpayment From 1999 Barclayloan?

Truegho

Can I claim overpayment of Payment Protection on a loan I took out with Barclays in 1999? Or is that too far back?

Also, does it make any difference if this Barclayloan went into default a few years ago and, consequently, I am now on a payment plan of £1.00 via the Citizens Advice Bureau?

Clive_Woody

You can certainly give it a go, for the cost of a stamp you have nothing to lose.

You may find if you do win a refund that it is offset against the remaining balance so you don't actually get any cash in your pocket but would see the loan paid back sooner than it would be with your £1 payment plan.

gb12345

Truegho wrote: »

Can I claim overpayment of Payment Protection on a loan I took out with Barclays in 1999? Or is that too far back?

Also, does it make any difference if this Barclayloan went into default a few years ago and, consequently, I am now on a payment plan of £1.00 via the Citizens Advice Bureau?

The limitation act on the return of money for PPI payments is 6 years from the date that the mistake could reasonably have been discovered. Given that the PPI mis-selling blew up around 2010 (can't remember exactly) then you are within that 6 year period.

The fact you are on a payment plan has nothing to do with your ability to claim mis-selling, but be aware that they will probably use any repayment to offset against the loan.

Stabilo_Boss

Hi

I hope you can get something back - its worth a go. However avoid a PPI claim company who take a % of any refund. Not only do they often get paid for doing nothing but if you do get a refund but it is offset against anything you still owe you will still have to pay the PPI company their %. You could end up with no new cash and a bill to pay!