Claiming back PPI on a debt that was settled for less

[L_M_N]

I had a halifax loan and I was mis-sold PPI. I had some personal problems which meant I was defaulted and could only afford a small amount each month towards the debt. I then came into money and arranged a settlement with them. Bal was 4K and I settled the debt for 2K.I wondered if I can claim PPI on this, will Halifax give the money to me or will they pay it back into the debt even though technically it's finished and they were happy with their final payment?Thanks

[citizenB]

No harm in trying, you might well find that they realised that they had mis sold the PPI and used that to balance their books. Give it a go.

[dx100uk]

have a look at the wonderful stuff on the FOS website

 

fill out a complaint form & do a SOC and fire it off

 

it should go to you pocket, regardless to the F&F

 

dx

[cerberusalert]

PPI is totally separate to the loan in any case.

[L_M_N]

Thanks for the prompt response, I'll look to claim it back and let you know what happens

[slgsue]

I had a similar experience with CAP 1 - Reduced Settlement for them to close the account without incurring default, they settled on PPI complaint but were able to offset the refund against what would have been owing as citizenb says balancing their books. The FOS said they were in their rights to do it too! You have nothing but your own time to lose and a few pence in stamps and you never know if your PPI plus interest could be worth more than what they effectively let you off paying anyway and you would if they did try and balance the books get something back!

[dx100uk]

urm...something not right there, the PPI you actually PAID can only be offset against the arrears - not the total outstanding balance, the rest should go to your pocket.

 

dx

[TheAnalyst]

Sorry for bumping an old thread but anyone else got any take on this?

 

I'm in the same boat, settled full and final with welcome finance for £1200 (have it in writing) on a 3500 balance. PPI claim accepted in my favour for £2200 but they're keeping it saying the account was closed with a balance and they're well within their rights to keep the lot.

 

[citizenB]

You might want to take this to the Financial Ombudsman, analyst.

[dx100uk]

the arrears notices sadly play no further part here

 

you f&F 'd before reclsiming ssilly mistake

 

what you need to do now is reconstruct your spreadsheet to show this

 

if it gives you a positive bal than that comes to yyou.

 

is this welcome themselves or the fscs?

 

dx