PPI reclaim after Full & Final settlement?

[Saraih]

Hi, I wonder if anyone has experienced this?

 

My OH had a bank loan and defaulted on it seven years ago.

The amount he owed was around ten thousand (with all sorts of fees) and that is the amount the DCAs chased us for.

 

He recently got an offer from the DCA to (F&F) settle for 5%, or less than £500.

I know the debt is statute barred but we can just about afford this

and it will put an end to constant reselling and pestering when it cycles round again and again.

 

At the same time, he keeps getting letters from the original lender about reclaiming PPI.

This would be worth more than we're paying for the full and final.

 

So, can we do this?

who would get the reclaimed PPI?

us or the DCA?

I've got a letter saying it's definitely full and final, not partial settlement.

I made them send it before we paid so they couldn't sell the debt on.

 

Thanks for any insight on this...

[ims21]

Have you ever written to the DCA and told them it is SB and that you will not be paying?

 

If not that is what I would do. The FCA rules about this are quite clear and they should then close their file.

 

If the debt has been sold then there is no right of set off and any successful reclaim of PPI would come to you unless the original creditor buys the debt back from the DCA.

 

Who is the original lender?

 

Who is the DCA?

 

Are you 100% sure it is SB?

[dx100uk]

the PI will be to his pocket as the debt has been sold.

 

 

there no logical or legal reason to pay anything on a statute barred debt.

 

 

and if its NOT on his CRA file

its not harming him and thus never can.

 

 

if you pay that DCA all it will do is fund the harassment of others like what you have suffered from the DCa

 

 

as it is pure profit and will go directly to their pocket.

 

 

do not pay them

 

 

dx

[Saraih]

Thanks for the replies.

 

Yes the debt is absolutely 100% statute barred, for nearly a year now. I am not 100% sure if it has been sold, it is still with the first DCA to have it.

 

I haven't had any contact with them until now but they sent a letter offering 5%, so I called and said if they sent a letter confirming it was F&F I'd pay it.

 

Debt was originally with Halifax, DCA is 1st Credit. Is that likely to have been sold?

 

Have you ever written to the DCA and told them it is SB and that you will not be paying?

 

If not that is what I would do. The FCA rules about this are quite clear and they should then close their file.

 

No, I just mentioned it on the phone because they started wanting I&E and I wasn't interested, I said they could take it or leave it. They took it, they had no choice.

 

I've had other debts sold on even after I told them they were Statute Barred, so I thought this might put an end to it.

 

if you pay that DCA all it will do is fund the harassment of others like what you have suffered from the DCa

 

 

as it is pure profit and will go directly to their pocket.

 

 

do not pay them

 

Alright, I hadn't thought of it like that. I thought it would stop them from selling it on. I'll just go back to ignoring them then, it isn't like they aren't used to it by now and there's nothing much they can do.

 

Thanks very much for the advice.

[ims21]

I would write to them and tell them it is SB and that you will not be paying. The SB letter is in the CAG library, the link to which is at the top of every CAG page in green.

 

Here is the FCA's item on the collection of SB debts...

 

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?426148-CONC-7.15-Statute-barred-debts

[Saraih]

Will do, thanks very much!

[f16]

Do the PPI claim yourself !!!!

 

Reclaim co. Charge between 25 and 40 %.

 

It's straight forward with advice on here.

[Saraih]

I wouldn't use a company but I've got no idea about account numbers or dates as OH used to throw out all his letters so I've only got access to DCA letters for the last couple of years.

 

I suspect there's an annual statement in the pile which might have an account number on it, presumably I'd have to SAR Halifax to find out what was paid and they might not tell us because it was over six years ago. Still might be worth a shot though.