Bank sold my debt...

cakeisyummy

Hi newbie here, I had a debit/credit card back in the 90s when I was working, bank said I had to take ppi out as it would protect me if I lost job etc and keep my payments up you know the story lol. I eventually lost my job when the company went bust and I called bank n they weren't helpful. Eventually after struggling to make payments on card I ended up oweing bank thousands in interest .Tried the CAB etc, point of boring story is, the bank had sold my debt on to collection company and I have been paying them a small amount for years, I recently claimed ppi and got a bunch of money back, which leads me to ask where do I stand with debt collection company I shouldn't have had this debt if the bank had done their job in the first place, it seems unfair to me that I will be paying for a debt probably forever all cause of useless ppi.  If anyone knows anything I appreciate any input.

sourcrates

PPI was mis-sold on a massive scale, no suprise it was no good to you.

Well at least you got the PPI payment back, that should have gone to your creditor, i suspect the age of the account came into play there.

Its far too late now to make a complaint about a loan issued in the 1990`s, you have had some recompence, so thats a bonus, you can make a request under sec 77/79 CCA for a copy of your original credit agreement, the chances of the DCA/original creditor been able to provide compliant paperwork from 30 years ago is virtually nil.

Failure to provide renders a debt unenforcable, so an escape route if you like.

Info and template letter here -

https://www.nationaldebtline.org/EW/sampleletters/Pages/Information-about-your-agreement-under-the-Consumer-Credit-Act-(sole-name).aspx

JamoLew

having trouble understanding here -- you had cards WITH PPI -- lost your job, but didn't claim on it -- why ?

cakeisyummy

JamoLew I did attempt to claim using the ppi they told me my job loss wasn't covered.