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Derek51

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  1. 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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