PPI claim

diannaross2

Hi, hope someone can advise,

i have read about debts over 6 years old can not be taken to court, but the company can still persue you for the money, I understand these debts can be Statu Barred , the company's have not bothered us for over a year , but will i be able to reclaim PPI on these debts, I know the claim if there is one may be taken to pay the debt off, so is it worth me applying for PPI.

Also my husband had a bank loan with TSb bank, we want to make a claim for bank account charges, will they take the claim if there is one off the bank loan, the loan is in default over 6 years , the bank have not bothered us at all for the remaining balance.

Thank you

-taff

If they haven't pursue you for the money and you haven't acknowledged the debt for 6 years, it becomes statute barred.
If you attempt to complain about PPI, it will reacivate the debt if it's less than 6 years old, and they will pursue you for the money again. If you are successful, they will use any redress against outstanding amounts. This may or may not be enough to pay off the debt.
There is no such thing as claiming it back, only making a complaint that it was missold, which may or may not be successful.


If you are not currently in finacial hardshp with the bank in qiestion there is an almost zero chance of getting any historical charges refunded.

If you want to complain about a loan that is statute barred, agains, any redress will come off the amount owed. You may however receive some interest.

dunstonh

i have read about debts over 6 years old can not be taken to court, but the company can still persue you for the money, I understand these debts can be Statu Barred , the company's have not bothered us for over a year , but will i be able to reclaim PPI on these debts, I know the claim if there is one may be taken to pay the debt off, so is it worth me applying for PPI.

Statute barring will prevent them from using the courts for recovery of the money. However, if you complain and your complaint is successful, they can use the capital part of the redress payment against the debt you failed to repay.

diannaross2

Thank you taff for a quick reply,

the debts are more than 7 years old now, I have not acknowledged them at all, so i do not want them to reapear, so will not be complaining about PPI or the bank charges. I am not in financial hardship with the bank, I only have a cash card and no overdraft so can only deal with cash for anything I need,

I appreciate your advice, you have put my mind at rest

diannaross2

hi dunstonh, thank you for your reply

I think I will leave things as they are, as i have worried over the situation for years and I am only just settling my mind and getting my life back on track


much apprecitated

-taff

Just to be clear, if the debt is statute barred, it cannot be reactivated by you complaining about the PPI. It just means they;ll use any redress against whats owing, but as i said, you may [and I stress may] receive some inteest.

To check if they are statute barred, just have a look at your credit report for the last time they were on there, they may have fallen off by now.

Ask on the debt free wannabe board for more info regarding statute barring and when it starts and ends.

McKneff

Good luck with moving on x .....