Repercussions?

I've got a couple of loans with the Halifax and an old credit card totaling about 30K

One loan has a missold PPI, I'm freelance and always have been, which I don't think it covers.

Also I've heard about a loop hole that if the CCard company can't provide the original signed document/agreement I don't have to repay the debt. It sounds untrue, but I've got a friend who claims he's just done it!

Basically, what I wan't to know is, am I about to kick a wasps nest? I tried, so far unsuccesfully, to reclaim my back charges last and ever since Halifax have been a little more difficult to deal with, (maybe it's just the times) but what happens if I go for the above?

Can they call in all the debt at once? foreclose?

Can they dammage my credit rating? (Not that I ever want any credit again!)

Many Thanks for any help and advice,

Fx.

Comments

  • di3004
    di3004 Posts: 42,579 Forumite
    flatinit wrote: »
    I've got a couple of loans with the Halifax and an old credit card totaling about 30K

    One loan has a missold PPI, I'm freelance and always have been, which I don't think it covers.

    Also I've heard about a loop hole that if the CCard company can't provide the original signed document/agreement I don't have to repay the debt. It sounds untrue, but I've got a friend who claims he's just done it!

    Basically, what I wan't to know is, am I about to kick a wasps nest? I tried, so far unsuccesfully, to reclaim my back charges last and ever since Halifax have been a little more difficult to deal with, (maybe it's just the times) but what happens if I go for the above?

    Can they call in all the debt at once? foreclose?

    Can they dammage my credit rating? (Not that I ever want any credit again!)

    Many Thanks for any help and advice,

    Fx.


    Hi there FX

    I would go for it in regards of PPI reclaiming.

    Also if within the last 6 years you taken out the finance, then they should be able to supply you with a copy of the agreement, also if any of them are still active.

    You just enclose a small payment of a £1 postal order or cheque payment for this request and they should supply by 12 days.

    Any problems you can always contact the Information Commissioners Office (ICO) who may offer some advice or even contact the company on your behalf.
    https://www.ico.gov.uk/Global/contact_us.aspx

    With PPI reclaiming this should not damage your credit rating, and they should not and don't normally expect you to pay off the debt, this is a claim in your own right if you were mis sold the PPI policy.

    Good luck and here is the link to the PPI reclaiming guidelines with templates:
    http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
    The one and only "Dizzy Di" :D
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