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I have been offered a settlement for PPI which is full amount plus interest.
Halifax want to take it off the defaulted balance (been on reduced payments with CCCS for 3.5 years, never missed a payment).
But, the debt has been sold on to CL Finance and I am not happy as this £1300 could be used as a Full and final to pay them off.
Is there any difference when it is regarding a sold debt (Halifax are happy to refund this).
My balance is £4700 and this £1300 is a bit chunk.
But as the Debt was Sold, they would have bought it for pennies, so you can imagine that I am peed off!
Is there any way of getting Halifax to pay me (legally) any words of wisdom to make them send to me, or offer as a F and F to CL off this debt ?
Would really appreciate any advice, I wouldn't mind if Halifax still owned the debt but it is annoying to think they probably bought it for £1000 and this £1300 could free me of this debt !
7. Thinking of a Full & Final Settlement?Read Here
my views are my own...seek legal advice if ness
NEVER EVER - act on a private message asking you to visit another website, make contact 'off list' or by telephone
- alert the siteteam IMMEDIATELY by hitting the black warning triangle on any message - Particularly if this results in a request to pay a fee to help you.
rather than hittting to be my friend - hit the star
DX you say they have to send me a cheque, but is there any regulations that state this ? I am going to ring them on Monday ready to tell them no I don't accept they are going to take it off the balance of a debt they do not own !!!!!!!!!!!!!!!!!!!!!
Thanks for moving ! You say they HAVE to refund by cheque.............are there any guidelines that state this, anything I can quote when I call them Monday ??????????
It was a GE Capital Loan originally, somehow ended up with Halifax ?
Now they are willing to pay the £1300 to the company they sold it to, but I think that is wrong as CL finance probably paid less for it.
7. Thinking of a Full & Final Settlement?Read Here
my views are my own...seek legal advice if ness
NEVER EVER - act on a private message asking you to visit another website, make contact 'off list' or by telephone
- alert the siteteam IMMEDIATELY by hitting the black warning triangle on any message - Particularly if this results in a request to pay a fee to help you.
rather than hittting to be my friend - hit the star
I have had a quick look at your thread. IMO Halifax would be out of line to now insist a PPI refund is to be used to offset the arrears on the loan especially now the debt has been sold on to a DCA. I see it as if the debt has been sold by halifax they no longer own the debt so cannot insist the PPI rebate is used to reduce that debt.
However I have posted a question to some other members of the site team to get their input. I will get back to you as soon as I get some response.
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
re my last post I have a few responses from my question and the general opinion is that if Halifax have sold on the debt on your account even though it was part of a debt managment plan CCCS then Halifax have no right to claim the PPI rebate is paid off the outstanding arrears. It is now in the hands of the DCA CL Finance. Halifax by virtue of selling on the debt also sell on the right to have any say in the debt. Therefore the PPI refund should be paid directly to you and you should decide what happens to your money.
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
side a pile of LTSB 'fob-off' letters struggling to get out!
Posts
2,398
Re: Ppi
Hi Charley
Subbing to your thread with interest because we have a similar situation with MBNA/Apex. The fos have just told us that MBNA are prepared to repay the PPI, but that because it is with a DCA (Apex), MBNA/DCA can insist on the money going towards the balance.
We queried this (along with the fact that no actual amount was specified) with the FOS, who had sent us an acceptance form to sign. The FOS encouraged us to sign and return it which we did. They said the amount could be argued later, but that as it was with a DCA they could insist on having the money. The difference with ours is that there are arrears of £900 or so.
The amount we are owed is similar to yours, although the balance is around £6000, but even so it would be great to be able to offer this as a F&F.
It might not be possible for us, but I would definitely fight tooth and nail to get this money paid to you if I was in your position now!
Good luck and well done for getting this far!
Regards,
Landy x
LTSB PPI on various loans (current/settled) - Refunded inc 8%
MBNA 1 Charges - Refunded inc CI
MBNA 1 PPI - Refunded
MBNA 2 Charges - Refunded inc 8%
MBNA 2 PPI - Refunded
MBNA 2 Accident Ins - Refunded
Swift Advances (settled) Mortgage Charges -Partially refunded
Swift Advances (settled) Mortgage PPI - Refunded inc CI & 8%
Sainsburys (settled) Loan PPI - Refunded inc CI +8%
Sainsburys (closed) Card Charges - Refunded inc CI + 8%
M&S Money (closed) Card Charges - Refunded inc CI
M&S Money (closed) Card PPI - Refunded inc 8%
Direct Line (settled) Loan PPI - Refunded inc CI + 8%
Thank you so much, I really appreciate the time you have taken to respond and to find out more info, I was really struggling with finding info online.
I have basically told them that I do not accept that the money will be used to reduce the balance, only because the debt has been sold on.
If it was with the original creditor, I would be fine, Barclaycard have refunded £1300 and It has been taken off the balance - but CL Finance I did not agree to a loan or PPI with therefore that money should be mine and can be used to pay off some of my smaller debts.
I will let you know the outcome in a few days when the complaints person calls me back..........
It is good (or bad haha) to know others are going through this issue as it helps to know what to do next, your advice is really really appreciated !
Chin up matey keep the faith it is caggers against the rest
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Well I have spoken to them today and they say they may be able to refund me what I have paid so far plus interest, but the rest of the rfunded PPI has to go to the loan.
I explained that the £1300 was added to loan at start and I paid monthly I paid for about 6 months before I started to deal with CCCS. The whole balance of loan plus PPI was passed to the Collector, minus the payments I had already made.
I feel this is wrong, after all if this is indeed a PPI refund, all monies should be returned to me, not just the ones I had paid.
It has been sold fraudulently therefore that is MY Money not theirs, I have no issues paying back the loan, but how can they give that money to the DCA ???
If they gave it to me I might have been able to do a Full and final !!!!!!!!!!
Update - this morning informed that I am getting £1446 back for PPI on the GE Capital Loan.
Hhalifax said they could send cheque to CL Finance for this for a Full and final - rang CL and they refused - they want £2000 off the balance of £2667. Considering they bought the debt and it will take 8 years to pay off, I am so annoyed.
So it's either ombudsman or accept a chq to me for £198 and £1200 off the current balance - leaving about £1250.................... ..or I find £550 myself for the extra and the debt will be gone.
No chanve of finding £600..................... ..any advice please what to do next ?
Ring the fos and open a complaint, as AA has already said the PPI is separate from the original loan, and the account has been sold. Stick to your guns, the refund should be yours!!!
9-1-07 S.A.R - (Subject Access Request) sent:o !! Lloyds and Halifax!
20-1-07 S.A.R - (Subject Access Request) sent Capital One
20-1-07 S.A.R - (Subject Access Request) sent Halifax Card Services
20-1-07 S.A.R - (Subject Access Request) sent Marbles
20-1-07 S.A.R - (Subject Access Request) sent Halifax (Birchave0's sis)
8-3-07 PPI refund Lloyds TSB Loan £1200 + £2900 off loan balance
22-5-07 Halifax *Won* £1025
23-9-07 Goldfish 8k balance written off, £2300 PPI + charges returned, no agreement
side a pile of LTSB 'fob-off' letters struggling to get out!
Posts
2,398
Re: Ppi
Hi Charley
Sorry to hear you are still having problems with this.
Despite the fos telling us that our PPI refund from MBNA would possibly go to the DCA who now owns the account/debt we have today received the cheque ourselves - our problem is that it's for half the amount it should be, so even though we're not in your position we haven't really won this one yet
I'm in agreement with aa and birchave0 - this money should come to you - you can't let them do this with your money!
It definitely wouldn't hurt to give the FOS a call and see what they say - although they did originally tell us (see my previous post) that the DCA could insist it went to them.
Also the FOS made us sign an acceptance form and wouldn't/couldn't tell us how much MBNA were going to pay out - now MBNA have paid only half what they owe and are saying that because we signed the acceptance form the matter is closed
Good luck and let us know how you get on.
Regards,
Landy x
LTSB PPI on various loans (current/settled) - Refunded inc 8%
MBNA 1 Charges - Refunded inc CI
MBNA 1 PPI - Refunded
MBNA 2 Charges - Refunded inc 8%
MBNA 2 PPI - Refunded
MBNA 2 Accident Ins - Refunded
Swift Advances (settled) Mortgage Charges -Partially refunded
Swift Advances (settled) Mortgage PPI - Refunded inc CI & 8%
Sainsburys (settled) Loan PPI - Refunded inc CI +8%
Sainsburys (closed) Card Charges - Refunded inc CI + 8%
M&S Money (closed) Card Charges - Refunded inc CI
M&S Money (closed) Card PPI - Refunded inc 8%
Direct Line (settled) Loan PPI - Refunded inc CI + 8%
Update - call this afternoon, as Cl Finance are a bunch of monkeys, Halifax do not want the money sent to them because they keep making a mess of accounts and also because they make errors.
The cheque is coming to ME !!!!!!!!!!! £1446 !!!!!!!!!!! I am in shock, I can now pay off lots of my smaller accounts and then be just left with the big ones !
I am so happy, thank you to everyone who contributed to this post !
Ppi
which is full amount plus interest
to pay them off.
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