Is my bank loan PPI valid for Plevin?

superlative

Hi there


I've just discovered I had PPI on two loans from First Direct, both opened in the early 1990s.



One of them is a straightforward Personal loan, and I'm assuming it was paid off within a few years, and therefore not eligible for a complaint under the Plevin thing (please tell me if I've got that wrong!) I am still hoping for compensation for straightforward misselling on that one.



The other loan is a "Flexiloan account". It was a product that allowed you to borrow and pay back and then borrow again - a bit like an overdraft, but is a separate loan account. This account is still open, and I could borrow on it today if I wanted to, though I haven't used it for many years. I pretty sure I have not used it since 2008.



Would this Flexiloan PPI be eligible for compensation through the Plevin route, ie is it still considered 'active' if the account is still open, even if I haven't used it since 2008?



Bit stunned to find I had PPI at all, and am trying to get my head round the right way to claim for compensation.



Thanks for any help and advice.

dunstonh

Would this Flexiloan PPI be eligible for compensation through the Plevin route, ie is it still considered 'active' if the account is still open, even if I haven't used it since 2008?

yes. The credit agreement was in effect after 2008.

superlative

Thank you! But from what I've just read, I should try a 'normal' misselling claim before going the Plevin route, I believe?

dunstonh

superlative wrote: »

Thank you! But from what I've just read, I should try a 'normal' misselling claim before going the Plevin route, I believe?

Correct. Plevin only applies to rejected complaints.