What to do when unable to find details of bank loan?

Jeanie_Olivia

My ex and I took out a bank loan in 1999, before we parted company, to pay off our joint debts. The loan was for £15,000 and in my name. We deposited our monthly payments into a joint bank account at Nat West and the payment was made to the lending bank. I have some bank statements from back then that show the amount being paid out to 'my name' with no indication of the name of the bank.
I contacted Nat West but they were unable to identify the lending bank because they don't keep statements from back then.
I have a feeling it was Sainsbury's bank so, I wrote to them (Bank of Scotland, I think now) and on the details I'd provide, they were unable to help without an account number.
I have details of the amount being paid each month and the Nat West account number from which the DD was paid.
I am pretty sure that, PPI would have been paid. I was self employed and therefore, would not have been protected by PPI.
Any advice would be gratefully received as I don't know what to do next!

Nasqueron

1) Self employed people WERE covered by PPI, that's another claims company myth, some PPI policies had particularly onerous conditions but by and large they covered you, this is not a complaint reason unless you can show the Ts & Cs would have been a problem for you to complain

2) Why are you "pretty sure" PPI would have been paid? You clearly don't have any evidence of it - establishing if you had it would be the challenge before you start making a complaint.

The Data Protection Act requires firms to delete data when it is no longer useful (typically 6 years after the product was closed) so if it was paid off before around 2009 then chances are all the records are long gone - if it was active within the last 6 years it would be on your credit report.

If it was more than 6 years ago, as you have no records, no proof you paid PPI and your sole complaint reason may well be invalid, you might as well leave this one

Jeanie_Olivia

Yeah, cheers, thought this would be the case!

Nasqueron

Do the statements you have not show an account number/sort code?

Do you still have an account with NatWest?

If you want to chance it, you could send a DSAR to NatWest to get a copy of every record they can reasonably find, it will cost you £10 and might reveal the details or they might have junked them if the account with them is closed - up to you on that front

Jeanie_Olivia

Yes, I still have the account with Nat West but the statements show no account number or sort code, just my name. When I did ring them, they did attempt to retrieve the statements and details of payments, but I've nothing to lose, except a tenner, so I will give the DSAR a go, thanks!

Nasqueron

Jeanie_Olivia wrote: »

Yes, I still have the account with Nat West but the statements show no account number or sort code, just my name. When I did ring them, they did attempt to retrieve the statements and details of payments, but I've nothing to lose, except a tenner, so I will give the DSAR a go, thanks!

I suspect the loan will be archived but the chance of having the records is higher if you are still a customer - if they don't have records that far back then at least you will be able to rest knowing you have done what you can.

Do remember as well the self-employed line would need you to show the Ts & Cs would make it particularly onerous to claim so hopefully any records they have left would include the loan details - may be worth a forum search to see if anyone else was in your position and see if there is any help there

headachesrus

I had a successful claim with Natwest. This is what I posted at the time:

Natwest loan
Loan amount £2200
Date of loan 1992
redress offered £740
Applied for approx 10 days ago by post
still have account with them so I had account numbers



Had really good news from natwest yesterday. I had put a claim in for misselling a ppi on a loan back in 1992. DH had a text the day before to say a decision had been made and a letter would be following in up to ten working days. So I rang them yesterday morning and they have made an offer of £740! They are irritating me however because they will only deal with DH on this. Again he had to authorise them to speak to me yesterday. It's a joint account, was a joint loan and if we hadn't paid I'm sure they would have been happy to chase me for it!!

That was one of my complaints for misselling, because I was made redundant and tried to claim and we were told it was only the first named person who was covered for redundancy cover. DH has always been self employed and they had his business account at the time. If we had been made aware of that we would have switched the names around on the account.!

Jeanie_Olivia

That is good news! My loan wasn't with Nat West though, my account through which the direct debit was paid, was with Nat West.....just unable to identify the recipient of the direct debit!!