We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Default on a loan that had PPI
ashmore1991
Posts: 1 Newbie
Hi
In 2006 I took out a loan for 48 months for £16,000 but unfortunately 2008 I lost my job and defaulted. Since then we haven't had any communication with Natwest until I enquired if I had PPI on my policy brilliant news for me that they have acknowledged that I did, and that i was mis sold.
Have i got any case to claim on the PPI now in order to reduce the remaining balance? Or even a legal case as it has caused me financial hardships as they have unecessarily destroyed my credit rating by issuing a CCJ against me and ultimately making the last 5 years hell for me.
Any advice would be greatly received.
Cheers
In 2006 I took out a loan for 48 months for £16,000 but unfortunately 2008 I lost my job and defaulted. Since then we haven't had any communication with Natwest until I enquired if I had PPI on my policy brilliant news for me that they have acknowledged that I did, and that i was mis sold.
Have i got any case to claim on the PPI now in order to reduce the remaining balance? Or even a legal case as it has caused me financial hardships as they have unecessarily destroyed my credit rating by issuing a CCJ against me and ultimately making the last 5 years hell for me.
Any advice would be greatly received.
Cheers
0
Comments
-
Err.....didn't you destroy your own credit rating when you defaulted?
Did you claim on the PPI when you lost your job?0 -
Have i got any case to claim on the PPI now in order to reduce the remaining balance?
If they have told you it was mis-sold, then they can use the capital part of the redress payment against the debt. Also, they may restart attempts for you to repay the outstanding debt.Or even a legal case as it has caused me financial hardships as they have unecessarily destroyed my credit rating by issuing a CCJ against me and ultimately making the last 5 years hell for me.
You did that yourself by not paying the loan.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
In what way was it "unnecessary" for them to take you to court for unpaid debt? A County Court Judgement is the penalty for your default.ashmore1991 wrote: »i has caused me financial hardships as they have unecessarily destroyed my credit rating by issuing a CCJ against me
How have they "acknowledged" that you were mis-sold? If you have yet to make a complaint, then the Bank will not have acknowledged any such thing.ashmore1991 wrote: »they have acknowledged that I did, and that i was mis sold.0 -
So lets get this straight, you had a loan, lost your job but its bank fault you didnt repay the loan?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards