Halifax - PPI / mis-selling?

bringingit

Hi, I was just thinking about an old loan and wondering about any potential PPI / mis-selling issues. I'm fully expecting the answer to be 'no' but wanted to get some opinions.

In 2003 I was a 19 year old working a temporary contract. I got a £10,000 loan from Halifax and lost the money gambling. I had a 3 month 'payment holiday' on this account and in the end never made a repayment. I was declared bankrupt in 2004 (bad advice I probably shouldn't have done this, was still very young, naive and suffering several mental health problems).

Included in the bankruptcy was this loan, an overdraft and a credit card. I'm pretty sure the loan was over 90% of the debt.

When applying for the loan I had to go for an interview / process the application in branch. I didn't want the payment insurance and told the agent this but they told me it was compulsory. This took the total value of the repayments to something like £18,000 instead of £13,000 without it (I can try and find the documentation for the exact figures, not sure if I have it though).

After failing to make any repayments and the debt being passed to an internal collection department, I had an extremely nasty conversation with a collection agent. I told them about my situation and that the job I had was temporary contract and they threatened to go to the police for fraud saying I'd lied on the application! I told them the application never asked for the length of my contact but I did provide names, address and phone numbers of my employer which I assumed had been used to check such things. I was told I needed to set up a repayment plan and the amount (I think it was something like £250 per month) was more than I could afford or they would still be going to the police.

The size of the total amount owed (inflated due to the PPI) and the threats from Halifax were the main reasons I hastily went into bankruptcy rather than try to find a different solution.

Do I have any redress with Halifax for this? I understand it's very unlikely due to not making any repayments.

Thanks for reading.

dunstonh

Do I have any redress with Halifax for this?

No. The PPI issue is a pre-bankruptcy asset and you have no legal claim on any refund. Bankruptcy wipes the slate for debts but also assets.

The reason for your bankruptcy would not have been the PPI. In monthly costs, it would have been something like £15-£25. You don't go bankrupt due to a shortfall of that size.

[Deleted User]

bringingit wrote: »

Do I have any redress with Halifax for this? I understand it's very unlikely due to not making any repayments.

Nothing to do with repayments, bankrupts cannot personally gain from PPI complaints. Any redress, were it to be awarded, would go to your Official Receiver for re-distribution to your former creditors.

JuicyJesus

dunstonh wrote: »

The reason for your bankruptcy would not have been the PPI. In monthly costs, it would have been something like £15-£25. You don't go bankrupt due to a shortfall of that size.

Which is any event academic because he didn't attempt to make payments but failed to do so, he just didn't make any.

To want to complain about mis-sold PPI that one knows they never actually paid a penny for in order to get money back is laughable.