Do I have a claim?

Cuthbert56

Hello, I wonder whether anyone could help me please.
I took out a loan with RBS around January 2003 and was informed at the time that PPI was compulsory for me to be able to have the loan, anyway around October 2005 I stopped paying as I was about to enter into an IVA which was duly satisfied in February 2012. I have literally just found the paperwork....no dates though, but I have the amounts and the account number (the actual PPI payments were £69.82 per month).
Just wondering whether it is possible to make a claim despite being over 12 years ago and having stopped paying part way through due to the loan being part of my IVA. If I am able, what do I do to start the ball rolling.
Thank you.

Cuthbert56

Anyone please?

DevCoder

Whats your complaint reason?

10pence

I'm under the impression of the following but more than certain if wrong someone will correct me.

You should have informed the official receiver if you believed you had mis-sold PPI as the compensation is classed as an asset.

If you do claim it back there is nothing stopping RBS from keeping any and all compensation awarded to offset against the amount you owe.

Insider101

10pence wrote: »

I'm under the impression of the following but more than certain if wrong someone will correct me.

You should have informed the official receiver if you believed you had mis-sold PPI as the compensation is classed as an asset.

If you do claim it back there is nothing stopping RBS from keeping any and all compensation awarded to offset against the amount you owe.

Duly corrected.

In a bankruptcy situation, the above would be correct. However, in an IVA, the OR plays no part and if you need to inform anyone it would be the insolvency practitioner who dealt with your IVA. Best to check with them and the bank.