PPI claim on statute barred loan, Scotland

bigreefer · 15 July 2017 at 11:34PM

Took a £7500 loan out many years ago....2005/2006 I believe and it was with egg bank online, which I believe is now gone in name at least...

It's now statute barred....

Can I claim PPI on it?

I'm pretty sure it can't be kicked off again but just looking for the green light from those in the know...

Many thanks in advance....

[Deleted User] · 15 July 2017 at 11:42PM

Regardless of being statute barred, an attempt to complain about any PPi will result in resultant redress being offset against the unpaid debt.

Green light? Hardly..

bigreefer · 16 July 2017 at 11:13AM

Moneyineptitude wrote: »

Regardless of being statute barred, an attempt to complain about any PPi will result in resultant redress being offset against the unpaid debt.

Green light? Hardly..

It the mis-selling of the PPI not a separate issue form the defaulting of the loan payments....?

Is it a certainty any compensation would be go towards paying off any remaining debt...?

Are you saying that a claim could be made without the loan being resurrected but that the compensation could be take away?

Thanks...

-taff · 16 July 2017 at 1:02PM

Yes, exactly that.

You owe them money, they possibly owe you money, so they get their money first before you get your money. Statue barred loans cannot be resurrected by complaining about PPI.

PPI claim on statute barred loan, Scotland

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