defaults and PPI

enfield_freddy

looking thru my mthly printouts , a loan that I defaulted on , has now timed out (6 yrs).


now the reason for the default , was the fact that I was made redundant , however there insurance policy had me running thru hoops that I could not achieve.


so for ease:


loan with ppi taken out approx. 8 yrs ago , default date 6 yrs and 1 mth ago.


is it possible (with the dates shown) to claim back for a mis sold insurance deal.


I have kept my head down , not wanting to rock the boat for the last 12 mths

Nasqueron

Better to post on PPI forum but I believe that even though the debt may be SB they can still offset any PPI refund against the money you didn't pay back - you would get any extra bits and there is some dispute over whether you can get the interest element of a PPI refund directly to you rather than offset. Do note you would only get a refund of PPI you actually paid, depending how long into the loan you stopped paying, that is what you would get back if they agree it was miss-sold.

Oh and it's a complaint for miss-selling, not a claim - you have to explain why you feel you were miss-sold (if the PPI was included in the loan for example, meaning you paid interest on top of it)

enfield_freddy

ok thanks , as expected the refund would prob not cover the amount that was owed when it went into default


I will let it die , quietly