Loan Acknowledgement issue

Curdman123

Hi

Newbie, so be nice.

I claimed back ppi via a so called specialist company on a loan I had from 2003 which was settled. I had forgotten it was settled by having another loan from the same lender to pay that original one off. The second loan was never settled due to certain reasons & I was never chased for it from the bank so it was left. I haven't made contact with them neither had they with me.

On the letter I received today from the bank it said my complaint had been upheld etc & I was awarded an amount. Some of the amount is for me the rest is was to be used against the outstanding balance. (Even after this there's still a balance owed)

Below this it says please continue to pay the monthly arrangement you have agreed with the branch recovery unit. Now there has been no contact since at least 2004 & nothing is set up, my question is claiming the PPI is that an acknowledgement of the debt?

Thanks in advance for any help.

[Deleted User]

Not if it was statute barred.

Curdman123

How do I prove that? I take it that means where's there's been no contact for 6 years!

superbigal36

https://forums.moneysavingexpert.com/discussion/5653357

Useful thread

Curdman123

Thanks for the replies.... I also spoke to National debt line who confirmed that it's not an acknowledgment & I won't need to repay the balance left due to the stature bar.