Thread: Loan taken out in 2000

Originally Posted by takeitalltheway

Hi

I took out a loan in 2000 over a term of 5 years but in 2002 due to financial difficulties I started a dmp with CCCS and am still repaying the loan. My question is that although I took out the loan over 6 years ago, can I still reclaim PPI as the end of the loan was officially less than 6 years ago.

thanks for your help

Hello Tiatw,

The answer to your question is yes, yes and yes.

May I ask who the loan is with???????

I have successfully reclaimed back two big claims from loans taken out in 2000 and 2001.
Now the first thing to know, the debt has it be passed or sold to a debt collections agency

The first thing to do is to send a Subject access request to the original creditor. It costs £10 and they have 40days to comply.

You will find the SAR in the ppi stickies, just amend it to your details and sent it recorded delivery and wait till it comes.

Whilst waiting read around the threads and stickies to educate yourself for the journey

Anything you need to know, ask away and if we know the answer we will help

Originally Posted by takeitalltheway

Thanks for the reply. That's great news.

The loan is with Barclays and hasn't been sold to a debt collection agency. I don't have the original paperwork so if I do a S.A.R - (Subject access request) I assume they should send me a copy of anything I signed?

My husband also had a loan with Barclays taken out in 2000 over a 8 year term. This was paid off early when he took out another larger loan with Barclays in 2005. I have written to the bank stating that the ppi was mis-sold due to the fact the my husband has a pre-existing medical condition. The bank have written back and have stated 'that it is reasonable to expect customers to raise an issue within a reasonable time. By postponing making your complaint, our positon has been prejudiced and the level of any investigation could have been compromised. Where a complaint relates to an alleged breach of duty outside six years, it is considered time barred under the status of limitations.'

They have also advised that when the loan was paid prior to maturity a refund of the unused premium was obtained and credited to the loan in order to reduce the balace outstanding. We've got no idea of how much was repaid, we did not receive any breakdown of figures.

I have written back asking for a breakdown of figures and confirmation of my husband's authority to pay the refund to the loan account (surely as it was his money he should have given his permission for them to pay it to the loan account?) I have also stated that as the loan end in 2005, they should still have all the documents relating to this account.
I feel we're going to have a fight on our hands with this one so any help gratefully received.

Hello,

When they were trying to baffle you with the limitation act, and it being statue barred, they failed to mention Section 32, which in effect blows that one out of the window. Your have only now discovered their underhanded business tactics:grin:

Also under the misrepresentation act, they have to prove that it was not mis-sold:grin: They had the advantage of knowing what they were doing, you didn't. They breached their fidicuary relationship with you. for their unjust enrichment.

Don't be put off by their statement, they will try anything, so they don't have to pay out.

Keep at them and show them that you are determined and not going away