Ppi

[charley24]

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 !

[charley24]

Oh and without the PPI I probably would not have got into this situation and could have cleared this off a few years ago....................

[dx100uk]

hi charley

they must pay you by cheque

 

there is a ppi forum

have a read of a few threads in there

i'll post a link to then info you want.

 

dx

[maroondevo52]

Hi, charley.

 

As dx has said, there's a PPI Forum, I'll move your thread there.

 

Regards.

 

Scott.

[charley24]

Hi there and thanks for moving my post !

 

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 !!!!!!!!!!!!!!!!!!!!!

[charley24]

Don't know where my post went !

 

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.

[dx100uk]

might be a bit ahead of myself there

i've looked and i cant find the thread i'm after today.

 

i'm sure there is something that says it not their pigeon, they have sold it its up to you to decide where the pennies go.

 

i'm a bit busy tonight but hopefullty alanaalana will be about and look it

 

dx

[charley24]

Oh thanks DX, I really would like that back to me, would be great to be able to settle this debt.

[alanalana]

Hello charley,

 

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.

[alanalana]

Hello charley,

 

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

[landy_alert]

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

[charley24]

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 !

[alanalana]

Chin up matey keep the faith it is caggers against the rest

 

aa

[birchave0]

I'm very interested in the outcome of this!!! Please keep us posted

[charley24]

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 !!!!!!!!!!

[charley24]

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 ?

 

Shall I ring the FOS for advice ????

[birchave0]

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!!!

[landy_alert]

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

[djgordyp]

Don't forget these DCA's usually pay peanuts for these accounts. (that's why we call their staff monkeys:p:D)

[charley24]

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 !

[birchave0]

:)YAHOOOO!!!!!!!!

 

well done!!!! :D:D:D:D:p:p:-)

 

[landy_alert]

:grin::grin::grin:CONGRATULATIONS CHARLEY:D:D:D

[charley24]

Landy are you still going to keep on to get the other half ?

[pompeyfaith]

Charley,

 

You have given Cl Finance a boot up the jaxy they did not accept what you offered as a full and final and halifax saw this hence why they are now paying you.

 

LOVE IT WELL DONE that will teach them not to get greedy.

 

Enjoy the money.

 

Regards

 

PF

[landy_alert]

Landy are you still going to keep on to get the other half ?

 

Hi Charley:)

 

Yes with pompeyfaith's advice to hand I intend to push them for every last penny!

 

The FOS quite clearly state that the firm is supposed to put you back in the position you would have been in had the PPI not been applied - MBNA have not done this so I will be drawing their attention to this fact.

 

Regards,

 

Landy x