PPI and the limitations act

[debt_mountain]

Are mis sold PPIs held to the 6 year limit?

Is it 6 years from taking out the loan or six years to the loan being closed?

Thanks

Blackhorse and CitiFinancial are being chased at the moment.

[hellhasnofury]

Originally Posted by debt_mountain

Are mis sold PPIs held to the 6 year limit?

Is it 6 years from taking out the loan or six years to the loan being closed?

Thanks

Blackhorse and CitiFinancial are being chased at the moment.

Hello DM,

The time starts from when you discover the truth.

[debt_mountain]

Thanks HHNF

I was hoping that was the case, as they have deceived us....let battle continue.

Black horse is currently sitting at £15k and Citi at £12k.

That would be nice for Christmas.

[DIY13]

Hi Debt Mountain

I'm too in a similar position and about to quote the limitations act in my LBA letter. Do you have a template or a sample letter which contains this quote? I'd really appreciate having a look you can pm if you like.

The first thing i got back from the the car dealership was you signed it, it's over 6 years and OFT won't be interested!!! Now how's that for a fob off letter! I'm ok with that because they have given me the strength to fight all the way

Thanks

DIY13

[debt_mountain]

I will not be mentioning the limitations act unless they state something in their defence about it being limited, I might make a comment to it in my N1 court form but not sure yet.

From what you say they are saying the OFT will not look at it, they are not saying it is statute barred.

DM

[DIY13]

Hi Debt Mountain

Sorry I don't understand what 'statute barred' means??

Please shed some light on this it sounds interesting

Thanks
DIY13

[ChloeJane]

Hi Statute Barred is a term used to describe a limitation to pursue a claim.

More information can be found here.

http://www.lawcom.gov.uk/docs/cp151apa.pdf

Number 2 covers it.

It just means that the time limit is 6 years.

[debt_mountain]

Originally Posted by ChloeJane

It just means that the time limit is 6 years.

Except where either by way of a mistake or through leading the other party someone has tried to hide some important information.

I would be using this as I only found out recently that the policy was mis sold and not sold to me after they explained what it would and would not cover.

My wife is and has been self employed since 1989 and each of the policies sold would not cover the self employed.

[alanfromderby]

As a back up, I would consider section 14A as well - that gives you three years after you had enough knowledge to commence a court action (with a 15 year backstop), and as a consequence the requirements are less stringent than proving section 32.

[DIY13]

Thanks for the info guys

Really appreciated

Diy13