PPI misselling

Clint163

I took out a loan in 1994/5 but would only be accepted if I took out insurance. I was also giving a Visa card and a MasterCard both also had insurance and that if I ever became unemployed that I would be covered. In 1996 I applied for another loan for home improvement as I was moving house. This amount - not exact figures but roughly that amount. I paid off the amount due on previous loan as this still had a few payment left on it.

Clint163

I have no documents to support this however I did contact the bank last week and received a letter yesterday saying that they have no records of me having a PPI against the loan or cards. I have contacted the ombusman regarding this and awaiting on the form being sent to me. I know for a fact I had insurance because I filled in the forms to make my claim and was rejected.

Clint163

Thing is, I would have been covered if the insurance paid out when I came unemployed. I ended up in debt due to this. I filled in the forms to claim on the insurance and was rejected. Not because I was out of work but because I was claiming the wrong benefit? How was I meant to know this? The bank still has my details because after many of years of not banking with them they still had my details on the system 3 years ago when my husband had an account and we made it a joint account. So if they have all they details surely they have my loan and card details?

Clint163

My last loan was 1996.

Tixy

It is unlikely that the bank will have these full details on loans from so long ago. They are not obliged to keep records that long.

However whatever records they do still have you could obtain a copy of them via a subject access request.

But if they have already told you they don't have any records of Loans with PPI then I would imagine a SAR would confirm the same.

Clint163

Sorry, you say the irony in my two sentences, but just to clarify things. I would be happy for any compensation to be put towards any outstanding money owed as I have never had a loan or any debt since then Due to my lack of trust in banks as well as insurance. however I wouldn't have been in the situation where I was left with debt if the insurance paid out when I became unemployed. I tried to get the bank to reduce payments but the amount I could afford was below the required amount. I have read that people have had claims as far back as early 90s without the person having evidence (although better to have this) so I am quite taken aback in your response.

-taff

Any debt you did have would be statute barred now anyway, so it wouldn't appear on your credit file.
Also, because you voluntarily left your job [unless the constructive dismissal ever judged as that by a tribunal for example?] it wouldn't have paid out.

Clint163

Moneyineptitude wrote: »

You want "compensation" of money you never paid, why are you taken aback that I see this as a contradiction?

The PPI didn't cause you to default on your debt, even though it may have contributed.

Eighteen years after you took out this loan, your complaint is basically over before it's begun. Referring your "complaint" to the Ombudsman without any evidence is a waste of their time and yours.



A SAR letter will turn up details the Bank have kept on file for at least the last six years and (sometimes) longer. However, two decades on, the chances of information still being held are slim indeed. I would question the wisdom in spending £10 on a SAR letter.


This is generally only the case where the complainant is still a customer of that particular bank. The bank have already written to say they no longer have records and the Ombudsman won't be able to magically produce them.

Yes, but I do still have an account with the bank I never closed it down.

Clint163

Don't you think though this is the bank way of fobbing you off. On the letter it does not say I didn't have a loan with then it says' you didn't have a PPI loan with the above loan. This I know for fact I do have a loan. When I spoke to the person from the ombusman they pointed that out to me. They said the letter is not denying I had a loan it is denying a had a PPI against the loan.

Clint163

Sorry, the response above is mumbo jumbo..lol the letter says' our records shows no PPI against the above product (loan) and the exact same for the cards. So the person I spoke to at the ombusman pointed this out to me she I read the letter to her over the phone. She says they are not denying you had a loan out with them they are saying I didn't have a PPI against it.

[Deleted User]

Clint163 wrote: »

Sorry, the response above is mumbo jumbo.

I'll leave you to get on with it then.
Send the Bank a SAR letter and £10 to see exactly what's still on file.