Santander PPI Refund Offer, And Another PPI Question

[Wee Jock McPlop]

Santander wrote to me, without any prompting on my part, asking if I was likely to reclaim my PPI. Given that I was told that it was a condition of the loan it seemed to me to be a no-brainer that I was due a refund. Lo and behold they have offered me pretty much what I'd have expected within a few days of me returning my form to them - about £800.

 

But:

 

I defaulted on the account (along with my other unsecured debt) at about the half-way stage when my finances fell apart and I entered into a protected trust deed. Santander say on their refund offer letter that anything they are due to return to me will be used to offset the outstanding balance of said loan, which is significantly more than the refund due. Even if they did not do this, under the terms of the PTD I'd be obliged to declare and pay that to my trustee anyway.

 

The thing is I am due to be discharged from my PTD before the end of the year, which raises two questions:

 

1. Would I be right in thinking that on the date that I am discharged my previous unsecured debts become written off and no longer in existance, other than as a 6 year stain on my credit file? Or indeed should that have happened on the date my PTD became protected (in which case I shouldn't still get 6 monthly statements of arrears)?

2. Is there a legal issue with me neither accepting nor rejecting this offer until my PTD is no longer in force, then attempting to reclaim this mis-sold PPI then?

 

I know that it sounds like I'm trying to have my cake and eat it, but I am working hard to rebuild my financial position which hit rock bottom a couple of years ago and this would help, even if I have to wait months for it.

 

The other PPI question I have is:

 

I've seen lots of conflicting advice on time limits including 6 years since signing the PPI form and 3 years from becoming aware of the mis-selling. I had PPI on a Northern Rock mortgage which I took out just over 10 years ago, but it is only on reading about PPI issues over the last year or so that I've become aware that it too was mis-sold. Would I be eligible to claim for this? Likewise I had Barclaycard PPI dating back about 16 years for which I could say the same thing. Is this worth pursuing? Would it be beneficial to speak to one of these companies who advertise on the radio / tv?

[ims21]

The other PPI question I have is:

 

I've seen lots of conflicting advice on time limits including 6 years since signing the PPI form and 3 years from becoming aware of the mis-selling. I had PPI on a Northern Rock mortgage which I took out just over 10 years ago, but it is only on reading about PPI issues over the last year or so that I've become aware that it too was mis-sold. Would I be eligible to claim for this? Likewise I had Barclaycard PPI dating back about 16 years for which I could say the same thing. Is this worth pursuing? Would it be beneficial to speak to one of these companies who advertise on the radio / tv?

 

Hi Jock

 

I can't answer the first part of your question but others will be along who can.

 

I can however answer the last bit about PPI.

 

Please please please do not use a claims company....they will charge you a hefty 25%-30% or more to get this done for you and frankly they are not worth it because it is something you can do yourself.

 

There is no time limit on how far you can go back with your claim so both the Northern Rock and Barclaycard are available for you to claim back. What I would suggest, if you want to go ahead with a claim, is to start two threads in the ppi forum, one for each lender and you can get advice and help tailored to each one.

 

The first step for each would be to download the questionaire from the fos website (Financial Ombudsman) ready for completion.

 

Step 2 is to make sure you have all of your statements and the loan agreement fom Norrthern Rock. If you don't have these then you will need to send a Subject Access Request to each of the companies to get a transaction history (amongst other things). This will enable you to prepare a schedule of claim for each one.

 

As I say, start a new thread for each and we can take each one a stage at a time.

 

Regards

 

ims