Consumer Law Blog
Claiming PPI when your bank has been soldby 21 December 2011
In recent years we've seen the sale of a number of high street banks. In 2008 the government bought the majority of shares in RBS, and in 2010 a number of RBS branches were sold to Spanish bank Santander, who also bought Alliance and Leicester and Abbey National.
This has caused problems for consumers who are owed millions in mis-sold PPI claimants. One letter to the Daily Mail told of how when he wrote to his bank (NWS Trust) requesting a PPI refund, he received a letter back from another bank (Black Horse) claiming they had never heard of NWS Trust.
If this sound likes your case then don't throw your old paperwork in the recycling just yet*. The Daily Mail informed the reader that "If someone at Black Horse had used common sense they would have realised the reason they received your letter is that they now own what remains of NWS Trust". This is an example of one way that the bank can fob you off over your claim for PPI.
If your bank has been sold the new owner of the bank is still liable to pay you anything owed to you, just in the same way that you are obliged to pay anything you owe to your old bank to the new owners of the bank.
This means that if your bank has been sold then you should not put off making a claim for PPI. Your bank may try to wriggle out of their obligations but if you pursue them then they will have to pay up sooner or later, whether they like it or not.
If this sounds like a lot of work, you can make a claim today, and one of a team of advisors who battle with the banks every day of the week and who know every wheeze in the book will do the job for you!
*If you have lost your paper work don't worry - your bank is obliged to keep a copy and inform you if you ask whether or not they sold you PPI.
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