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Hi

Just wondered if a loan account falls into arrears and goes into a DMP, whether the PPI payment is still included on the debt or is taken off?. I have a 2 loans that ended up being paid off via a DMP. Admittedly I do not have all the paperwork as I couldn't cope with the amount of debt at the time but on the paperwork I have it doesn't seem to have been cancelled.

I am looking to claim back PPI but I'm not sure if I only paid it until the account went into a DMP or if the entire cost of the loan and PPI was sent to a debt recovery agency.

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Hello there.

 

The PPI wouldn't automatically drop off the amount of the debt. If the PPI is set up as an ongoing monthly payment you should halt those payments as it's likely the PPI wouldn't be viable should you default on the contractual instalments. In addition, if you're looking to reclaim it then you should clearly not continue to pay it anyway.

 

Any PPi reclaim could be used to offer a Full & Final settlement to your creditors. If you need to try and get further documentation from the creditors you could consider a SAR?

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I have already paid off the debt s2 I can only assume I paid the PPI premiums as well as I never asked to take it off as I didn't realise I had it. I finished the DMP in December 2009 but the loans were from 2002 and 2004 as well as 2 credit with Barclays and Egg so the time factor maybe an issue.

 

Thanks for the advice, and I like your avatar, one of my favourite albums!

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So long as you can get the info you need then it's more than possible to reclaim PPI from over 6 years ago. The key problem is that you may find that the lenders may not supply you with info under a SAR beyond 6 years. Worth a go though!

 

Nice to have people with a decent taste in music on CAG, there doesn't seem to be many of us haha :)

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Nice to have people with a decent taste in music on CAG, there doesn't seem to be many of us haha :)

 

As much as most hate it, I'm an Electric Cafe girl myself!

I've sent off an SAR to Canada Operations, not holding out much hope with the Egg Loan and credit card but the Barclays Loan is much easier as I only just finished paying that and I still have some statements on the Barclaycard so I can at least ask for the money I can prove. I've sent the forms off but I stated I did not need PPI because I get full pay from my employer if I am off sick. If they try and fob me off I will then say I paid PPI but there was no way for me to claim after entering a DMP even though I paid for it.

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  • 5 weeks later...

Hi guys, just to let you know that I received a cheque from Barclays this morning for just over £3000. Can't believed they rolled over so quickly with no fuss. It only took around 6 weeks and even so my case wasn't so straight forward as I entered a DMP also. I can only encourage people to stick to their guns and keep on persevering.

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Just on the flip side however,

 

I also found out today that Barclays have trashed my credit file with incorrect information with regards to a default on the loan which I recieved the PPI refund.

 

Even though I have paid it in full my credit file still remains at default so overnight my credit rating has dropped from excellent to fair.

 

I have posted a new thread in the credit reference agancy sub forum so if anyone has any info I would really appreciate it. Thanks.

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