Did my PPI pay off my loan?

Flanders15

Hello everyone, I have questions that needs answering as I can't ask my bank in case it opens up a can of worms.
I had a £11000 from my bank roughly 8 years ago. I managed to pay off the first 2 years which covered the interest, I can't remember why I stopped paying but I did. I did take out PPI at the time but didn't finish the PPI payments like I didn't the loan . I have never had letters telling me I owe this money, I still bank with them now. I have online banking which has my current account and a savings account. It also says insured loan with N/A with an account number. When I go into the icon it doesn't say I owe anything.
My questions are.... Does the N/A mean there is no loan and has been written off?
Would my PPI have cleared this debt because I was unable to pay it?
Are loans normally written off after 8 years?
How do I find out without opening up a can of worms?
Would my credit have been affected now even after 8 years?
Thank you for reading and hopefully I will get some helpful answers

misiek404

I'd assume I still owe money until bank states otherwise. Time to phone the bank and check.

jonesMUFCforever

Do a SAR (COST £10) this should show what happened to your loan account.

Wonderhamster

What's an SAR?

jonesMUFCforever

Wonderhamster wrote: »

What's an SAR?

A Statutory Access Request - it will contain all data they hold on you including statements of accounts (although they will not be in a standard statement format)

All electronic notes about you and what they did with your loan debt should be on there.

foxtrotoscar_2

jonesMUFCforever wrote: »

A Statutory Access Report - it will contain all data they hold on you including statements of accounts (although they will not be in a standard statement format)

All electronic notes about you and what they did with your loan debt should be on there.

I thought it was Subject Access Request?

jonesMUFCforever

foxtrotoscar wrote: »

I thought it was Subject Access Request?

Yes you are correct - I have amended my post.

zenmaster

jonesMUFCforever wrote: »

Yes you are correct - I have amended my post.

Not quite enough, it appears.

jonesMUFCforever wrote: »

A Statutory Access Request - it will contain all data they hold on you including statements of accounts (although they will not be in a standard statement format)

All electronic notes about you and what they did with your loan debt should be on there.

poppasmurf_bewdley

Flanders15 wrote: »

Hello everyone, I have questions that needs answering as I can't ask my bank in case it opens up a can of worms.
I had a £11000 from my bank roughly 8 years ago. I managed to pay off the first 2 years which covered the interest, I can't remember why I stopped paying but I did. I did take out PPI at the time but didn't finish the PPI payments like I didn't the loan . I have never had letters telling me I owe this money, I still bank with them now. I have online banking which has my current account and a savings account. It also says insured loan with N/A with an account number. When I go into the icon it doesn't say I owe anything.
My questions are.... Does the N/A mean there is no loan and has been written off?
Would my PPI have cleared this debt because I was unable to pay it?
Are loans normally written off after 8 years?
How do I find out without opening up a can of worms?
Would my credit have been affected now even after 8 years?
Thank you for reading and hopefully I will get some helpful answers

If you have gone six years without making a payment or acknowledging the debt, then it's statute barred anyway, so you may as well leave things as they are.

You may in the future get letters from debt collection agencies about the debt, but you can send them the statute barred letters if and when they come.