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I took out a PiggyBank loan a couple of years ago but ran into financial difficulty so stopped paying.

The debt was then sold to ACI in 2016 and I began an IVA and the debt was included and is being repaid.

 

I recently won a claim for being mis sold loans by PiggyBank and was told I would be given £370 as a goodwill gesture from them.

 

However PiggyBank are now refusing the claim saying they are holding the money to cover interest that I occured when I had the loan.

 

My question is if the loan was sold to ACI surely the debt that was sold includes any interest and because I am in an IVA and im paying that debt they cant hold the money ? 

Thanks for any replies

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it should goto the IVA trustee

have you told them

and about any other refunds?

if you haven't you are breaking the terms of your IVA

which is probably a good thing as did you or anyone check all your debts for enforceability before you entered into the IVA?#also do you mean it was sold to AIC not ACI?

 

 

dx

 


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The IVA company knows whats going on and they have said they will continue to collect the debt and amount as agreed. Its the only refund ive been awarded and I know anything that comes my way over 500 has to be declared to the IVA company. 

That isnt the issue the issue is im already paying the debt to PiggyBank through my IVA yet they are saying I owe them interest. If a debt is sold then any interest occured is sold with it surely?

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they cant refund you what you haven't paid nor are going to.

are you saying you made an irresponsible lending complaint and this refund is as a result of that.

 

this doesn't make sence

 

However PiggyBank are now refusing the claim saying they are holding the money to cover interest that I occured when I had the loan.

 


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How does it not make sense??

 

I took out a loan with PiggyBank stopped paying due to a change in circumstances, they sold the debt on to Asset Collections.

I took out an IVA and this debt is being paid through that.

 

A company advertised about reclaiming any mis sold payday loans...loans that were rolled over without any questioning.

I filled in the form

 

they said Piggybank mis sold me a loan and PB agreed to give me 370 as a gesture of good will.

However upon getting the payout PB said they will be keeping the money to pay off the interest that was added when I had my loan with them.

 

So they sold the loan yet are saying I still owe them interest even though its being paid off to Asset via my IVA

 

I AM paying the debt via my IVA to Asset Collections whom PB sold the debt to

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a series of loans, so they've actually refunded from another loan and not the one subject to an irresponsible lending complaint?

pers I know what i's do

 

first

write to the CMC and cancel any outstanding claims and this one and pay them off any fees for the refund [ even though you haven't or wont get it, they'll still want their fees] they have gotten you. shame you used a CMC you could of done this properly and all for free yourself.

 

when that's done goto the FOS.

but you'll need all the paperwork to show what has been done to date so send the CMC an sar to get that.

 

as for the IVA might be better to start a new thread in the IVA forum and lets get the debts checked for enforceability, cause if you are paying one off that's now owned by a no powers DCA, odds on you have others.

 

you state in one post you are paying asset through the IVa..in another you say piggybank..which is it or both>??


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Im paying the PB debt to Asset through my IVA

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ok good asset are a PDL debt buyer.

can you start a topic on this IVA and list the people paid throught it

you could be being cashcowed here and paying fees to the provide too that you might not need too.


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