NatWest and PPI!Loan settled, but have recieved PPI Form!!

MarkyBMark

Hi
I had taken a loan of £5,000 with Natwest in 2007. I took the loan out with them with my then wife (now divorced). Our individual incomes would not cover the monthly repayments but the advisor said our joint incomes would but it was only signed in MY name as I had at that time a good credit score and my wife didnt. I cant remember at the time if I took a PPI. Anyway, I have a considerable amount of debt because of that original loan. I am doing something about it. I just recently looked at my credit report and noticed that the orginal loan of £5,000 has been settled!!Im confused. I didnt pay it off. It said on the report that it was settled in July last year (2013). I have since had a letter from Natwest themselves with a short PPI Complaints form saying that if I think I was missold PPI I should fill it in. As I said I cant remember if I took out a PPI but the fact they have sent a form themselves AND have wiped out that debt suggests to me that I WAS missold PPI otherwise they wouldnt have sent it!! What should I do? Fill in the form. (It is and official letter by the way)

Cheers

MarkyBMark

Also why did Natwest pay off the loan??Have they something to hide??

safestored4

Mistakes can happen anywhere, but can be corrected upon discovery.

If the loan has been written off erroneously then there is the posibility that a response to the PPI letter, which at this stage will have been computer generated with no human intervention, will result in the mistake being picked up. Followed by debt recovery action.

I can't say whether this is the most likely outcome, but given that by defaulting on the debt you did not pay a significant portion of the PPI involved my own inclination is to let sleeping dogs lie. As things stand the bank has recorded the debt as cleared, and you will presumably have the added bonus of a record of this on you credit files.