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claiming old PPI from a bankrupt company
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ICEMANMAZ
Posts: 23 Forumite
Can anyone help with this. I had a loan secured with my mortgage I think it was about 1995.
It was with a company called The Consumer Loans Company.
I was in a mess at the time and thought it was a good way to get out of a mess. It was a joint account and we borrowed £20000 at the time they made us take out PPI. We were just desperate to get rid of the credit cards that we just signed the ducuments.
about after about 6-7 years (we never missed a payment) we got an early settlement £47000. As you can imagine we were shocked but as we did not have any advice we had no option and we took out a loan with First direct to pay it off.
The question now is can I claim anything back as this company went bust in 2016??
It was with a company called The Consumer Loans Company.
I was in a mess at the time and thought it was a good way to get out of a mess. It was a joint account and we borrowed £20000 at the time they made us take out PPI. We were just desperate to get rid of the credit cards that we just signed the ducuments.
about after about 6-7 years (we never missed a payment) we got an early settlement £47000. As you can imagine we were shocked but as we did not have any advice we had no option and we took out a loan with First direct to pay it off.
The question now is can I claim anything back as this company went bust in 2016??
0
Comments
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The question now is can I claim anything back as this company went bust in 2016??
No. Regulation started in January 2005 and only applies to sales made after that date (where the company is no longer trading).I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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