PPI reclaim used to offset existing debts - HELP!

[mickey33]

Not been on for a while so hi to everyone

 

Can someone advise me as to what happens when lloyds pay ppi towards an outstanding debt instead of us?

 

The reason for asking is due to the fact that when my wife was forced into I'll health retirement by the dwp

she worked for for 10 years we both had legitimate claims under the policy so we thought.

 

What lloyds did was not only ignore the claim for my wife who is disabled

they refunded the ppi and paid it onto the outstanding loan

and then sent a demand for payment of the outstanding balance.

 

In my case when I tried to claim as i became a full time carer for my wife.

 

The time when we needed there help they did exactly the same as above on my credit card offering no explanation or reason why.

 

The balances are still outstanding

we had 6 different policies in place including the mortgage

all of which never paid out and offered no response.

 

The mortgage company even sent out a private investigator but that's another story

 

I am not sure what to do as they have all contributed to screwing up our credit file not something that bothers me anymore.

 

The one positive though is we don't borrow money and it's not likely we ever will again unless God decides to,open a bank.

 

Do I get back in the saddle again to do battle or carry on sitting quietly smiling in the shadows?

[dx100uk]

have you a breakdown of the PPI refunds?

 

the portion which is the 8% stat court s69 interest

should always goto you not be used for offset.

 

have any of these debts been sold to a DCA?

 

tell us more please

 

dx

[mickey33]

have you a breakdown of the PPI refunds?

 

the portion which is the 8% stat court s69 interest

should always goto you not be used for offset.

 

have any of these debts been sold to a DCA?

 

tell us more please

 

dx

 

They have sold 1 to lowell's and westcott

and red are chasing another one

 

all of which have been in dispute over the years with lloyds and the Fsa.

 

The product sold to lowell's has not had the ppi repaid at all yet.

 

The reason so far for not claiming it is lloyds could not provide an original signed copy of the agreement on request a couple of years ago.

 

We didn't respond or claim due to us not recognising the original debt so being reasonable you can't have it both ways can you.

 

Now they have tried pulling a swifty with selling a disputed debt to lowell's

I may take a different view on it but that means notifying lowell's enclosing copies of the original letters sent to lloyds.

 

I am not sure about dealing with lowells as they all bore me with the generic patter and scripts they work from.

 

It makes very little difference to me and just goes back and forth in a tit for tat so I would like some views and opinions so I can make a decision on what to do.

[mickey33]

We have received the 8% in the past on some products but the ppi charges some of which were over £6k were paid onto the debts that should never have been debts in the first place. The other one I am now looking at is clean and paid up in full which is due back in full which is another £5k plus interest I am looking at that now.

[dx100uk]

you you saying they have or are offsetting ppi against SOLD debts?

 

if so they cannot do that

 

dx

[mickey33]

The debt lowells have purchased has never had a ppi reclaim yet as we don't recognise the debt.

 

The other agreements are still with Lloyds and the ppi has been paid against the outstanding debts which would never have been there had they even recognised a claim.

 

When a claim was originally pursued we were fobbed off and left to claim against a third party insurer we had never heard of before?

 

All the literature provided was lloyds for the insurance.

 

Under the policy we had a legitimate claim on the policy following my wifes retirement to settle the whole debt thats why they did not want to pay out.

[citizenB]

Hi mickey.. any debt they have sold off, they should repay the PPI to you.

 

However, this will still leave the 3rd party chasing you for the debt

 

Are there any default charges applied to the debts as well ?

[mickey33]

I am sure there are more than a few default charges I will have to check.

 

The loan has not had any ppi paid back as yet due to us not recognising the debt or putting in a claim for a refund to date.

 

I will have to dig out the old files and dust them off for a recap.

 

If I was a single guy I would have joined the freemans by now lol.

 

Why would anyone pay a dca company in which a legal contract has never been entered into?

 

Do banks initial signed agreements state that they are allowed to sell a debt if you default as part of there own terms and conditions?

 

At what point in time does this end that may help in the decision making in dealing with it all again and finalising things?

[mickey33]

With regards to the unclaimed ppi would lloyds have to pay back the full amount of the original ppi plus the interest or just the premiums paid during the term of the loan prior to default?

[ims21]

A ppi reclaim should put you back in the position you would have been in had the ppi not been applied to the account in the first place.

 

So you would get the premiums back plus any associated interest the bank charged on the account.

 

The 8% part of the award works differently depending on whether it is a credit card or a loan.

 

If the debts have been sold on then there is no right of set-off and the refund should come to you. You then have the situation where you would need to sort out any debt which has been purchased by a debt purchaser.

 

If the original creditor still owns the account then they may well use their right of set-off to put the PPI refund to any account which has indebtedness.

[mickey33]

I have checked on the original file

 

the info I requested from lloyds included two payments made onto the account logged as ccd rebate does anyone know what these are?

 

Then according to the screen prints

 

i requested from Lloyds there was a write off to clear the debt in early 2009?

 

Not being familiar with their internal procedures

 

I am not sure why this is recorded as such and then selling the debt this year nearly 4 years later.

 

I have just downloaded the Lloyds ppi claim pack has anyone used this?

 

The reason for asking as it looks like it is designed and written to trip you up I could be wrong.

[dx100uk]

i would use the FOS CQ

 

dx

[mickey33]

I have used the fos form for the ppi.

 

Can the dca register a purchased debt as a new debt on your credit report which they have done this year?

 

It makes the report look as if you have taken out a brand new loan.

[dx100uk]

sri explain further please...

 

once a debt has fallen off your cra file

 

it cannot comeback

 

dx

[mickey33]

Lowell's who purchased the debt from lloyds have recorded a debt this year on my wife's credit file.

 

The original loan with lloyds was June 2006 and the last payment July 2008 when my wife lost her income with no warning from work.

 

Should that be on her credit report and if so for how long?

[dx100uk]

if a debt has already fallen off because 6yrs default

it should not comeback

 

if you are saying the SAME DEBT shown TWICE on your cra file

 

then thats WRONG.

 

an account on a CRA will only fall off when:

6yrs from default passes

6yrs from settlement.

the creditor removes it.

 

dx