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PPI offer - offset against debt sold to DCA


Derek51
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Hi, first post so thanks for reading.

 

 

I have looked through the threads on here but haven't seen a problem like my one.

 

I claimed PPI on a loan that I took out in the early 2000s from Welcome.

The loan was £750.

 

 

Due to circumstances at the time o didn't manage to repay the whole amount, I think I missed the last 3 or 4 payments.

 

 

Welcome have sent me a PPI refund offer of £1247 which the day will be paid as follows:

£583 to reduce arrears on the account, and £664 to adjust the outstanding balance so that no further payment is made towards PPI.

 

 

On the next page of the letter, they say they sold my account to a DCA with a balance of £2855 and are in the process of repurchasing the debt.

 

Questions:

the amount the debt was sold for and is extortionate in proportion to the amount borrowed.

Should I ask for a SAR to clarify this?

How do I know that they are successful in repurchasing the debt and not just saying that?

Am I not entitled to PPI interest regardless of arrears?

What do they mean by adjusting a balance so no payment is made towards PPI?

Any advice on how to proceed will be greatly appreciated.

Many thanks

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  • 3 weeks later...

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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