Hi there newbie here

[notverygoodwithmoney]

Hi everyone, I hope I'm putting this in the right place coz this all seems very confusing to me at the minute!!

I'm after some help and advice regarding PPI on a car finance loan I had back in 2002? I purchased the car from Evans Halshaw and the finance was done through Royal Bank of Scotland I believe? (this is where my username comes into play coz I'm going off what's on my credit file to come to the conclusion that it is RBS it was with )

As it was back in 2002 I now have no agreements etc to refer to and have no idea on things such as account numbers etc and believe it or not I'm struggling to remember how much exactly I got the car for and how much the loan worked out to be?? The only thing I can remember tho is that I was told that I'd have more chance of getting the loan if I took the PPI out as it was the first time I'd done such a thing and had basically not got any credit score behind me. So I took out the finance and it was some 12 months later that I tried to actually make use of the PPI when I was off work for a few weeks due to illness...except when it came to it I couldnt use it as my illness wasnt covered by it a few months later I decided to cancel the ppi on the loan to reduce the payments I was making and also the fact that it was highly likely i was paying for something that would always have a catch to it should I try to use it!

so to my original request of some help and advice, I have no documents at all so should I do this Subject access request thing that I've seen come up in a few of the posts on here even if I have no account number as a reference base? does it matter that the finance was taken out almost 7 years ago now? does it also matter that I cancelled the PPI before the loan was settled?

sorry for it being such a long post, I tend to ramble on though!

many thanks for any help offered in advance!

[alanalana]

Originally Posted by notverygoodwithmoney

Hi everyone, I hope I'm putting this in the right place coz this all seems very confusing to me at the minute!!

I'm after some help and advice regarding PPI on a car finance loan I had back in 2002? I purchased the car from Evans Halshaw and the finance was done through Royal Bank of Scotland I believe? (this is where my username comes into play coz I'm going off what's on my credit file to come to the conclusion that it is RBS it was with )

As it was back in 2002 I now have no agreements etc to refer to and have no idea on things such as account numbers etc and believe it or not I'm struggling to remember how much exactly I got the car for and how much the loan worked out to be?? The only thing I can remember tho is that I was told that I'd have more chance of getting the loan if I took the PPI out as it was the first time I'd done such a thing and had basically not got any credit score behind me. So I took out the finance and it was some 12 months later that I tried to actually make use of the PPI when I was off work for a few weeks due to illness...except when it came to it I couldnt use it as my illness wasnt covered by it a few months later I decided to cancel the ppi on the loan to reduce the payments I was making and also the fact that it was highly likely i was paying for something that would always have a catch to it should I try to use it!

so to my original request of some help and advice, I have no documents at all so should I do this Subject access request thing that I've seen come up in a few of the posts on here even if I have no account number as a reference base? does it matter that the finance was taken out almost 7 years ago now? does it also matter that I cancelled the PPI before the loan was settled?

sorry for it being such a long post, I tend to ramble on though!

many thanks for any help offered in advance!

Yes start with the Subject Acces Request the statutory fee is £10.00 postal order is better as the post office can check if it has been cashed and give you a date.

The fact the PPI was cancelled before the loan was settled is IMO irrelevant. The majority of PPI was mis-sold for one reason or another.

see this link for the reasons....PPI - Some Notes for Claimants..

The main point is if you claim mis-selling of PPI it is up to the bank to prove it was not mis-sold it is not down to you to prove it was. However keep copies of everything as your case if it is with the fos will be much faster if they have all the relevant information. It will still take some time months rather than days.

aa

[notverygoodwithmoney]

Originally Posted by alanalana

Yes start with the Subject Acces Request the statutory fee is £10.00 postal order is better as the post office can check if it has been cashed and give you a date.

The fact the PPI was cancelled before the loan was settled is IMO irrelevant. The majority of PPI was mis-sold for one reason or another.

see this link for the reasons....PPI - Some Notes for Claimants..

The main point is if you claim mis-selling of PPI it is up to the bank to prove it was not mis-sold it is not down to you to prove it was. However keep copies of everything as your case if it is with the fos will be much faster if they have all the relevant information. It will still take some time months rather than days.

aa

another question after reading a few more posts on here today, does it matter that it was taken out in 2002 before they changed regulators is it?? is that going to make it more difficult to get anywhere with it?

thanks again for your help

[alanalana]

Originally Posted by notverygoodwithmoney

another question after reading a few more posts on here today, does it matter that it was taken out in 2002 before they changed regulators is it?? is that going to make it more difficult to get anywhere with it?

thanks again for your help

It may offer the banks to put up a resistance but I managed to claim back to 1997 successfully so do not be put off. PPI is claimable backas far as it started. The subject of PPI mis-selling has only just come into the limelight over the last three years so there are still a lot of people out there who are still not aware of the mis-selling. You should claim back to the date that PPI was applied if you have a valid case to claim mis-selling. You should also be aggressive in your claim. Please read and get more information from the stickies at the top of this forum.

aa

[notverygoodwithmoney]

Originally Posted by alanalana

It may offer the banks to put up a resistance but I managed to claim back to 1997 successfully so do not be put off. PPI is claimable backas far as it started. The subject of PPI mis-selling has only just come into the limelight over the last three years so there are still a lot of people out there who are still not aware of the mis-selling. You should claim back to the date that PPI was applied if you have a valid case to claim mis-selling. You should also be aggressive in your claim. Please read and get more information from the stickies at the top of this forum.

aa

thank you very much for your time, I'll try and fight through all of the jargon on the stickies!