can you help?

AERO

I have just found my original Loan paperwork from Santander. All the figures and T's & C's show that I did have PPI on this - which I wasn't aware of. I took out the loan in December 2010 for 3 years. I made all the repayments up until I became unemployed, from a well paid job, in June 2013 - at this point I had only 5/6 payments left on my loan. However as I was unaware that I had PPI to cover my unemployment I didn't make a claim and subsequently faulted on my loan. This also led to my excellent credit rating changing and I now have a poor rating. The interest added to my loan has almost doubled what was owing when I lost my job plus it was sold to a debt collector! Can anyone advise me on where I go from here and if I can get compensation? Thank you.

dunstonh

You are entitled to make a complaint.

if the complaint is successful, they can use the redress payable to offset the defaulted debt. Although you probably would want that anyway. You should also state in the complaint that you feel the bank is responsible for the default as they failed to make you aware that you could have claimed on the PPI and had the claim paid out, you would not have defaulted.

AERO

Thank you so much for your advice.

I have now emailed Santander with all the details of this plus the advice you have given and have already received a reply saying that they are now looking into this.

I am a little dubious as when PPI first started I had a loan with Abbey (now also Santander!) - which I had paid off - and had applied for the return of PPI. They replied saying I didn't have PPI!! Fortunately, I had ALL the paperwork for this which a scanned over and that of course meant they had to honour it! Believe it or not I got a further cheque from MBNA last week for over £100 as they said it had been miscalculated!!

Hopefully, this one will be resolved too.