Kays 1996

[salty_seadog]

Dear all

Just had a tidy up, and found a personal loan agreement that i took out in 1996 for £5000, on top of this £1884 creditcare! I always remember that back then it was put across that the loan would have a better chance of going thru if we had some form of protection, At this time i had just come out of 2 years unemployment so was pretty strapped for cash, trying to pay back this and that, so was probably at a vunerable state.

My question is can i go forward with this? or is it to late?

The loan was thru Kays but the agreement is with NWS Trust Ltd, based in Edinburgh.

cheers

steve

[alanfromderby]

If you have a copy of the insurance agreement you may have a chance. The problem is that you will have to show that there was an exemption clause which would have prevented you from claiming due to your employment status.

If you haven't got the paperwork, you would need to do a DSAR, however they are very likely to say they no longer have it, and then you are pretty much at a dead end.

[salty_seadog]

thanks alan,

do i need to send a dsar as i'm going along the lines of mis-selling? at the time my employer had good accident and illness cover, 2/3 your wage if you couldn't work until retirement.

If i have to send a dsar what am i asking for? Sorry to be a pain!

cheers

steve

[alanfromderby]

If you have proof of alternative cover then great. It would still be worth doing a DSAR though, and you would want full disclosure.

I included this paragraph in mine:

"Whilst it is not my responsibility to provide an exhaustive list of documents that you should supply (and certainly this is not such a list), I would remind you that your submission should include copies of all documents, notes, internal memos, computer screen notes, contracts, application forms, letters (including correspondence with third parties), and any other documents which you hold that contain personal data under the terms of the Data Protection Act."

[salty_seadog]

Bit of an update here, delved even further into the mass of paperwork i have, god knows why i kept it! but thank god i did, my loan taken out the Dec 1996 was with Kays and should of run to dec 2001, the loan company was capital bank, beginning of 2000 hit some really bad times, the loan the beginning of 2001 was passed to a DCA Blair Oliver & Scott (BOS), can i assume that they managed the dedt for Capital bank, if so then Capital bank would still have details on file as the debt wasn't paid off untill 2002/3. Or is it that BOS buy the debt cheap and suck as much money out of you as possible?

cheers

steve

[alanfromderby]

Legally they have to retain files (including all supporting documentation) for six years after the end of the tax year after which the loan was closed - or fully repaid.

If BOS only acted as a DCA, then their involvement is irrelevant. If they bought the debt, then it is a bit more complicated. To be honest, if BOS have stopped writing, then in all probability they did not own the debt.