Help with PPI on closed loan account

[jane36]

Please help.

I took out a Lloyds TSB loan in September 2000 for £14000, on to which was added £3025.39 as PPI. I was told that this was a condition of taking the loan as it was for a large amount. The premium was advanced as part of the loan.

Does anyone know if I can reclaim this money, even though the account was settled 5 months early in April 2005?

Does it matter that the loan was taken out over 6 years ago?

Many thanks.

(Please forgive me if posted in the wrong area, this is my first post.)

[hellhasnofury]

Hello, If you look in the statues library regarding the limitation act 1980 the time limit is 6yrs. There is section 32 which you could read that might help to be quoted in any correspondece you send to them. It is worth a try you might not get anywhere but it might ruffle a fewfeathers.I sent this in a letter in response to the solicitors threatening to strike my claim out of the court because 2 transaction went over the limitations act. It is also worth mentioning that this scandalous activity of ppi had just come to your attention.

I first contacted your client regarding their unlawful charges on XXth XXXXXX 2006 and therefore disagree with your contention that some of these charges fall outside the scope of the Limitations Act 1980. However I am happy to let the court decide on this matter.

Your client should consider themselves fortunate I have not claimed charges going further back, since I believe that any limitation would be overturned under the terms of section 32 of the Limitations Act, due to their continued "concealment" of the facts that their charges are unlawful, or for relief from a "mistake".

I hope this helps and wish you luck

[hellhasnofury]

Oops, sorry I fogot to mention the statement is in reference to bank charges not ppi. but the quote can be used or adapted as necessary to anything.

[Gary JAY]

Further to mentioning just the Limitations Act, 1980, you could also mention the Latent Damages Act, 1986 - this inserted Section 32 into the LA 1980. I know you think "Why should I bother??" but, but quoting as much Statute Law as possible, it shows them that you mean business and appear to know what you're talking about (they're less likely to mess you about!!)