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i recently had a PPI complaint upheld by Barclays, however they want to knock the money off the present loan balance. as my complaint was regarding the ppi not the loan i would like the refund paid into my account not knocked off the loan. do i have a choice to where my money goes???
i recently had a PPI complaint upheld by Barclays, however they want to knock the money off the present loan balance. as my complaint was regarding the ppi not the loan i would like the refund paid into my account not knocked off the loan. do i have a choice to where my money goes???
Hello kakat,
If you have been mis-sold PPI on a loan and it has been upheld by barclays that it was mis-sold then they should refund any monies to you by a personal cheque the Loan and the PPI are separate issues. Barclays should rearrange the loan removing the PPI and giving you any appropriate rebate on the PPI. You should then no longer pay any PPI on the loan and only repay the actual loan premiums.
You do have a choice barclays should NOT use any PPI repayment or settlement to cut the amount still outstanding on the Loan.
I had a similar problem with RBS big loan with PPI, cancelled the PPI claimed back the PPI via the fos got my money back and a revised monthly payment on the loan amount.
You must insist that the Mis-sold PPI money is paid directly to you by way of a personal cheque.
I believe the only possible exception to this is for example PPI on say a credit card where the credit card is still in arrears then it is apparently ok to offset the arrears with any repayment of PPI.
To summarise the Loan is one figure and the PPI is another two different sums on one Consumer Credit Agreement if the PPI has been mis-sold then it has been mis-sold and you are entitled to your money back with 8% statutory interest added. If you have any trouble with this go to the FOS all the info is in the stickies at the top of this forum. Just post if you need more assistance.
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Hope this helps.
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.
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kakat03 / help with PPI
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Originally Posted by kakat03
