Loan PPI Question

r5syb

I had a loan that I never payed off due to financial issues at the time and it went on for over 6 years and its now been removed from my credit file, Can I still claim the PPI off this loan even though it was never paid off? I cant find an answer in the FAQ on this site.

Any help appreciated

Thanks

[Deleted User]

You can complain, but any redress will be offset against the monies still owed. Only if the refund amount is more than you defaulted do you stand to gain anything.

r5syb

No the loan amount would be more than the compensation, I wondered if the claim would re activate the loan or not? I am better off just leaving it be and getting on with things?

[Deleted User]

You still owe the money regardless of whether it is statute barred. The Bank can no longer take you to court to recover the money, but any attempt by you to obtain a "refund" will be frustrated. It's money you failed to pay in the first place.