PPI I never knew I had!

alexroon

Hi All,

I have been reading on this forum for many years and have gained a wealth of knowledge from so many of you, so firstly thank you for sharing your wonderful insights.

Secondly I hope you can help. Back in 2008 I was made involuntary redundant and being unable to find a new job quickly I fell behind with my commitments to my creditors. Being young and naive I ignored the situation for sometime hoping it would go away and clearly it didn't.

At the time I had an overdraft and separate loan with Natwest (RBS) on which I owed around £7000 - as a result of ignoring the situation I defaulted on them.

To my knowledge I had only ever had PPI on 1 loan also from Natwest which was rolled into another loan. I remember being asked did I wish to have PPI on the new loan and I said no. As a result of the default and after seeking help from CCCS I entered into a debt management plan directly with Natwest and I having only paid around £30 a month to them still owe about £1000

A little while ago I received a letter from Natwest stating that I may be owed money from mis-sold PPI on my accounts. They listed 3 x accounts that I had with them and provided me with 3 x forms to fill in for them to investigate each case.

I got a reasonably quick response telling me that they believed the way in which I had been sold PPI was incorrect and as such made me an offer which totalled about £1000 which was broken down to a payment from each account.

My issue is this, If i had known that I had PPI on these accounts I could have made a claim against them when I was made redundant, therefore I wouldn't have defaulted and my credit position would be much stronger than it is today.

I have also paid interest and fee's from them and there debt collectors which wouldn't have been payable if I was able to make a claim on the PPI Insurances.

My question is what can I do about the damages I have received both financial and with my credit rating as a result of this?

Sorry for the long post, I do hope someone can help.

Regards

[Deleted User]

Nothing. There is no obligation on the part of the lender to remind customers they have insurance, although it would be considered good practice.

Although you may not remember having the PPI, the documentation at the time and statements would have specified it.

Having said all that, you may get a goodwill payment if you were to push it, but I think it's very unlikely.