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PPI - Refund - part to be offset against a sold on debt

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Can the ppi refund be given in part to a debt that has been sold and the rest to me?

Or do they have to give it all to me?

Many Thanks

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If the debt has been sold/assigned, then the original creditor from whom you are making the reclaim has no right to give any of the PPI to a third party.

 

Which creditor is this and who is the third party.


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Absolutely Skelly insist all the refund comes to you, the PPI has nothing to do with the dca that bought the debt.


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Actually it is an egg debt that was sold to arrow global. Is this different than sold to a dca.

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Actually it is an egg debt that was sold to arrow global. Is this different than sold to a dca.

 

No AG is a debt purchaser and DCA.


Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

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Can anyone give me something to quote to them as they keep saying the fsa guidelines say they have to pay arrow global.

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Hi Skelly I can't find any thing that says they can offset and pay AG, going to ask my colleagues here to take a look.


Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

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Hi Skelly I had success with this kind of thing getting PPI money back from Monument a year after they had offset against a sold debt. It is in the FOS guidelines however these are hard to find. Heres a link to my thread where I sent a letter to Monumnet.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?312868-PPi-refunded-to-DCA-***WON***-Repaid-direct-!!


If there are spelling mistakes on my posts, I blame the gremlins tapping my keys. :eek:

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Thanks nutter - have emailed them with that information and will have to wait for them to reply.

Many Many Thanks

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The case law you can use is Edlington Properties -v JH Fenner.

 

Where a debt/account has been sold, the seller as no right to appropriate your money to the third party.

 

You need to write and tell the original creditor this and if they refuse to refund all of the money to you then you are able to issue proceedings in court to force them to refund this money to you.


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Me again

 

I wrote several times to Canada Square they will not budge - say it is their policy to repay to other companies.

.

They sent me the cheque minus the amount for Arrow Global who incidentally got paid before I did.

 

What can I do now? Should I cash the cheque?

 

Many Thanks

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Unless you want to take it to the Financial ombudsman where your complaint will probably take a further 6 - 18 months, then I guess yes, cash the cheque.

 

They are however flying in the face of directions from the FOS and case law. They probably recognise that people wont be up for a fight with them :(

 

Aside from the fact that you might have had a genuine dispute on the debt which might have meant it was less in value that originally claimed, I guess it is a debt that has been repaid.


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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