Limitation Period Reclaim PPI

[lulilu]

In 1993 I took out a mortgage.

I was told that a condition of the mortgage was that I paid £14 per month PPI for accidents and unemployment.

After about 15 months I changed building societies and I'm not sure if I paid for PPI to the new lender. (I just cannot find out)

 

I have been reading the Limitation Act.

am I right in thinking

(a) that for mortgages and other secured debts the limitation period is 12 years and

(b) the limitation period for reclaiming PPI is also 12 years.

 

If I am right then this still leaves me outside the 12 years

BUT is it true that the limitation period runs from the time when a person could reasonably have known they could have a claim.

In my case this was the case where Lloyds realised in 2011 that they would lose any court actions over PPI.

Am I right in thinking this.

If I am could 2011 therefore be the start of the 12 year limitation period.

 

Generally the Limitation Act 1980 seems fairly straightforward but there are parts that I find difficult to understand.

Can anyone please help me out; it seems to me that the limitation period of 6 years for say unsecured debt applies IF

 

your lender doesn't contact you about the debt, and

• you don't acknowledge the debt in writing, and
  
• -you don't make any payments towards it...
  

My questions;

 

1, Must ALL three conditions exist or just one

2, What is meant by the term "Acknowledge"

3, Does the six year period start from the time a creditor is informed that no

more payments will be made and none are made

4, Does the six year period restart anytime within the six years if the creditor

just tells the debtor that they owe money

5, Does #4 apply if the debtor refuses to answer correspondence

[dx100uk]

assuch there is no time limit to ppi reclaims

 

when you became aware, fits you're case.

 

dx

[lulilu]

Thanks very much for this dx100uk. Its helped a great deal. Is it possible to tell me why there is no limitation period fpr PPI claims.

 

Also can you or anyone help me with answering questions 1 to 5. If you can't thats fine. Thanks again for answering my question about PPI limitaion period.

[dx100uk]

In 1993 I took out a mortgage. I was told that a condition of the mortgage was that I paid £14 per month PPI for accidents and unemployment. After about 15 months I changed building societies and I'm not sure if I paid for PPI to the new lender. (I just cannot find out)

I have been reading the Limitation Act. So am I right in thinking (a) that for mortgages and other secured debts the limitation period is 12 years and (b) the limitation period for reclaiming PPI is also 12 years.

If I am right then this still leaves me outside the 12 years BUT is it true that the limitation period runs from the time when a person could reasonably have known they could have a claim. In my case this was the case where Lloyds realised in 2011 that they would lose any court actions over PPI. Am I right in thinking this. If I am could 2011 therefore be the start of the 12 year limitation period.

Generally the Limitation Act 1980 seems fairly straightforward but there are parts that I find difficult to understand. Can anyone please help me out; it seems to me that the limitation period of 6 years for say unsecured debt applies IF

• your lender doesn't contact you about the debt, and
  
• you don't acknowledge the debt in writing, and
  
• -you don't make any payments towards it...
  

My questions;

1, Must ALL three conditions exist or just one

2, What is meant by the term "Acknowledge"

3, Does the six year period start from the time a creditor is informed that no

more payments will be made and none are made

4, Does the six year period restart anytime within the six years if the creditor

just tells the debtor that they owe money

5, Does #4 apply if the debtor refuses to answer correspondence

 

all you questions appear to revolve around the PPI date.

 

the limitations act ONLY

plays a part from when

 

'you could resonanbly been aware you paid PPI'

 

in 99% of cases that is troday [as such]

 

you've only just found out you can get it back.

 

that's when the clock ticks from.

 

that's why we say that, as such, there is no time limit on PPI reclaims

 

dx

[lulilu]

Once again dx thank you very much for this BUT there is a tiny thing I am not sure about; you say

 

'you could resonanbly been aware you paid PPI'

 

and

 

"you've only just found out you can get it back."

Although I "agreed" in 1993 to PPI I found out only in 2011 that I could reclaim this PPI. Am I right in thinking it is this knowledge of 2011 that starts the clock AND the fact I had "agreed" to PPI in 1993 is irrelevant.

I'm sorry to be pedantic about this but I have lost quite a few battles with banks because of the way they split hairs and nitpick about the tiniest things. I know the amount of money we are talking about here is quite small but just at the moment the money to me is really quite important.

Anyhow thanks again

[dx100uk]

we've never seen a case upheld that ppi is SB'd

 

it typically has to be a letter from them or you saying I know its been mis-sold.

 

dx

[lulilu]

Thanks for this. So from this I conclude I am within the limitation period and I should be able to successfully claim under mistake and restitution the 18 months or so monthly payments of £14 plus 8%. Am I right in this.

[dx100uk]

sure

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011

 

id use the CISHEET at their mortgage rate

 

dx

[lulilu]

Once again thank you very much for this.

 

I have been checking up and I find that the PPI was added to my mortgage as part of a package labelled simply as "Insurance"

 

This insurance was in two parts PPI and something called "Homecover".

 

Homecover was for general contents and various household emergencies.

 

I was told this "Insurance" was a mandatory part of the mortgage - take it or go elsewhere.

 

As elsewhere offered the same choice I took it.

 

what Iintend to do is claim for the total insurance package.

 

Is this realistic

[dx100uk]

yes

 

the only compulsory insurance is building

 

and if you had that already, they should not be charging you twice for it!

 

dx

[lulilu]

Thanks again for this. I have written to the building society and told them how much they wrongly took from me and I have charged them compound interest according to the 2nd spreadsheet you kindly gave me a link to. Just have to wait and see what they say. I wil let you know. Thanks again.

[dx100uk]

did you send the fos customer questionnaire too?

[lulilu]

No I didn't.

 

Should I have done.

 

I told the building society I didn't return the fos customer questionnaire as the vast majority it didn't seem to be relevant to me.

 

Should I send them the completed fos customer questionnaire

[dx100uk]

ideally yes you should always sent one

 

you'll prob get 'their' version back in the post.

 

lets see

 

dx

[lulilu]

Thanks. I will send them the completed fos customer questionnaire.