Following all the media hype surrounding the mis-selling of payment protection insurance many people have realised that their own PPI policy may have been mis-sold. Difficulties can arise; however, if you have misplaced the paperwork relating to your loan. In order to progress a complaint you will require specific information including the start date of your policy and an appropriate reference number. If you have lost this information it can pose a problem.
If you wish to find out information regarding a loan or credit card the simplest solution is often to call your lender. If they refuse to share this information; however, you can submit a Subject Access Request. Under the Data Protection Act 1998 you have the right to access information held about you by an organisation and your lender legally cannot refuse your request if you submit it in this formal way.
In very basic terms a Subject Access Request is a letter to your lender. In it you should state you wish to receive information regarding any past/current loans and/or credit cards you may have held with them. You should also include information to help them trace your accounts on their systems for example your full name, address and date of birth. If you have moved or changed your name since you took out the loan you should also include this information. The statutory fee for a Subject Access Request IS £10 and so you should include a cheque or postal order with your letter. It is also important to send the letter by recorded delivery and to keep a copy for your own records.
Your lender has to respond to your request within 40 days of receipt of your letter and they should provide you with full information regarding all the past loans and/or credit cards you have held with them.