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Hi everybody

 

First post for me so not quite sure if I have done this right.

 

Put in claim for PPI through Resolver for Welcome Finance.

Had forms back from them, filled them in and sent them back.

 

 

Have now received an offer for £6,208 but they want to take £4,595 off to settle a defaulted loan which they have sold to a DCA and are going to buy back so this will leave me with £1,213.

 

The loan was originally taken out in 2007 and I defaulted on it 2010.

I have received letters from a DCA but that was about a year after the default but I have not spoken or paid them anything due to my financial situation.

 

Can anybody tell me if this debt would be statute barred.

Also can Welcome Finance legally take the money off the refund to pay back the defaulted loan.

 

The loan i defaulted on had no PPI on it.

So I wonder can anyone tell me if they can use the PPI refund for this loan or not as the refund is from 2 other loans I had with them and were paid off.

 

Thanks

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sadly yes they can.

the debt being statute barred means nothing in England & wales as all it prevents is enforcement of a court judgement.

now if you were in Scotland that a totally different matter!!


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