halifax loan 2002

[pippin1]

Hi i took out a loan in 2002 for £12500 with an additional insurance. I got into debt somewhere along the line and ended up making a nominal payment in full and final settlement. Would I still be able to claim for the misold insurance or would it be offset against monies that were not paid.

[Conniff]

You say 'with additional insurance', so why do you now consider it 'mis-sold'?

[pippin1]

Because I was given no choice in whether i took it out or not

[ims21]

If it was put on there as a condition of the loan or you were not told about it at all then you have a case.

 

Have you got the statements and the agreement?

 

What exactly was the wording of the full and final settlement?

[pippin1]

I have the original agreement yes which includes insurance and interest on insurance. I will look out letters referring to full and final settlement and post later

[mags1]

Hi formerly pippin1 (messed up login). The wording of the letter said "They are willing to accept a payment of £8000.00 in full and final settlement. Your credit file will then be updated to show the default for this account with a nil balance and a status of satisfied" The debt at this point was with Cabot Financial