Is it too late to start claiming PPI?

marksephton

Hi
I'm hoping someone might be able to help clear a couple of things up for me. Due to medical reasons I've been out of action for some time and not really been able to focus on getting my affairs in order (inc PPI calims). I'm now on the mend and I'm starting to look at getting on top of everything financially. I was recently contacted by Allay claims (I've not signed anything) saying that I may be eligible to claim PPI.

I know I've had loans and credit cards with the following and almost certainly had PPI in most instances:

Lloyds - Loans and credit cards
Egg
Virgin money
Marbles
Capital one
Northern Rock
118118 & QuikQuid

Unfortunately, I don't have the account details for most of the above.

Basically, my questions are:

1. Do I still have enough time to request the information from the banks etc regarding my accounts to then submit claims?

2. If the answer to the above question is yes, are there templates on the MSE site o assist with this?

Thank you in advance for your help.
Mark

SonOf

I was recently contacted by Allay claims (I've not signed anything) saying that I may be eligible to claim PPI.

Everybody in the country is eligible to raise a PPI complaint. Even those that never had it. So, saying you may be eligible is a bit like saying you may breathe air.

Allay claims tend to rear their head with people that have had past repayment problems. Is that the case with you? If so, then say as it can change things

1. Do I still have enough time to request the information from the banks etc regarding my accounts to then submit claims?

yes

2. If the answer to the above question is yes, are there templates on the MSE site o assist with this?

Templates are not used any more. That method is old fashioned and tended to result in lower success rates as people left in things that were easily proven to be wrong and that would damage the chances of success. Nowadays, most banks have forms on their website.

[Deleted User]

marksephton wrote: »

Do I still have enough time to request the information from the banks etc regarding my accounts to then submit claims?

Yes, you can usually check whether you had PPI via a webform and with a quick turnaround. Do be aware that for older finance you may find that records no longer exist and if you have no documentation yourself then any complaint is a non-starter.

As Son Of says above, if you have monies outstanding then you need to be aware that PPI redress can be off set against this.

Do not use any Claim Firm. You will only regret it when you receive their HUGE bill for doing something you can very easily do yourself...

marksephton

Hi

I cleared some debts with Egg and Lloyds via a Short settlement - a once-off partial repayment of the outstanding balance to close the debts, this was probably about 8 years ago

SonOf

marksephton wrote: »

Hi

I cleared some debts with Egg and Lloyds via a Short settlement - a once-off partial repayment of the outstanding balance to close the debts, this was probably about 8 years ago

If you did not repay the debt in full, the lender is allowed to use any redress against that unpaid debt that was written off as part of the settlement.

If you use a claims company, they can charge against the full refund amount. Even if you do not personally see a penny of it because it as offset the unpaid debt.

[Deleted User]

SonOf wrote: »

If you use a claims company, they can charge against the full refund amount. Even if you do not personally see a penny of it because it has offset the unpaid debt.

Actually, they should refuse to handle cases in which there are monies still owed-a rule they should take seriously now they are regulated. There are definitely questions about (in) solvency on the application form. Odd that Allay Claims seem to "specialise" in chasing custom from such bad debt...

marksephton wrote: »

I cleared some debts with Egg and Lloyds via a Short settlement - a once-off partial repayment of the outstanding balance to close the debts, this was probably about 8 years ago

This means that you still technically owe the amounts written off, but the Banks have simply agreed not to chase you for it. Any redress, should it be awarded, will have your still outstanding debt deducted from it. You will receive only what is left after this deduction.