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PPI Claims with Statute Barred Debt


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Hi All,

 

New member here.

 

I am looking for some help please. I have seen all the fuss regarding PPI and I haven't thought of claiming as when I was 18-23 I got myself into some financial issues and ended up not paying back

 

I had a credit card and loan with Egg around 2001-2005, and I know I was paying PPI on both products. When got into some financial trouble around 2005 and in the end I stopped paying them, and then lived with the bad credit on my credit file for the 6 years whilst avoiding DCA's.

 

I now have a clean credit file as the debts have become statue barred and have dropped off the file, and have since managed to get a mortgage, and another credit card.

 

I was wondering if it was worth claiming for the PPI I was missold? Will the debt reappear on my credit file? Will they be able to start chasing me again? Will they just keep the money I would get from any claim anyway?

 

Also if anyone could help with who I would contact regarding the claim for Egg that would be beneficial.

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Hi and welcome to CAG.

 

If you were mis-sold then you can still claim back the PPI.

 

In England and Wales, Statute Barring means that these debts cannot be enforced by the courts but the debts do still exist.

 

If the debt is still with the original creditor then they can use their right of set-off and set any PPI refund against the amount owing. Any excess would be payable to you.

 

If the debts have been sold on then there is no right of set-off and the full repayment should then come to you.

 

Once a debt is SB, nothing can un-bar it.

 

The debt will not re-appear on your credit file.

 

See here about how to go about reclaiming with Egg....

 

http://www.citibank.co.uk/personals/cards/cards/feedback/egg.htm

 

You might be wise to SAR the lender to get as much information on the accounts as possible so that you can work out what the potential value of the claim will be. There is a template for a SAR in the CAG library, the link to which is at the top of every page in green.

 

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I would suspect the debts were sold on long ago.

 

 

so any PPI reclaims would goto you.

 

 

as for the cra file

no PPI reclaiming do not make debts re-appear.

 

 

once defaulted and removed

they stay that way.

 

 

time for an SAR to Canadian Square me thinks

 

 

unless you already have all the old paperwork

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Thanks very much for the replies, the debts were definitely sold on to a DCA, I remember having to chase one particularly "enthusiastic" agent from the house I was staying in at the time.

 

 

Much appreciated. I shall follow your advice.

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