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  • FIRST POST
    • Ingledene
    • By Ingledene 11th Nov 17, 5:26 PM
    • 2Posts
    • 0Thanks
    Ingledene
    Capital One Kept Money Back From PPI Refund
    • #1
    • 11th Nov 17, 5:26 PM
    Capital One Kept Money Back From PPI Refund 11th Nov 17 at 5:26 PM
    Hi there,

    Hoping you might be able to help explain something for me please. I successfully claimed back some PPI money a few years ago and thought that I would try again following the supreme court ruling. I sent through my application to Capital One and got a letter back stating that they could confirm a redress payment of £446.60. The letter then goes on to say that they would be taking £206.71 to apply to the closed account "in reduction of any over limit amount or defaulted balance on the account". I have now received a check for £260.80. When I claimed back my original PPI money a few years ago, I can't remember them taking money off to apply to the account. Are they allowed to do this, or should I refer it to the FSA?

    Thanks for your help
Page 1
    • -taff
    • By -taff 11th Nov 17, 5:33 PM
    • 7,098 Posts
    • 5,090 Thanks
    -taff
    • #2
    • 11th Nov 17, 5:33 PM
    • #2
    • 11th Nov 17, 5:33 PM
    Yes they are allowed to do that.
    • dunstonh
    • By dunstonh 11th Nov 17, 5:52 PM
    • 89,517 Posts
    • 55,954 Thanks
    dunstonh
    • #3
    • 11th Nov 17, 5:52 PM
    • #3
    • 11th Nov 17, 5:52 PM
    Where there is a debt in arrears, default or had amounts written off, they can use the money against the debt.

    Both logical and sensible as it would not make any sense to refund something you havent paid
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • Browntoa
    • By Browntoa 11th Nov 17, 5:58 PM
    • 31,864 Posts
    • 37,579 Thanks
    Browntoa
    • #4
    • 11th Nov 17, 5:58 PM
    • #4
    • 11th Nov 17, 5:58 PM
    Yes , it's called offsetting
    I'm the Board Guide of the Referrers ,Telephones, Pensions , Shop Don't drop ,over 50's and Discount Code boards which means I volunteer to help get your forum questions answered and keep the forum runnning smoothly .However, please remember, board guides don't read every post. If you spot an inappropriate or illegal post please report it to forumteam@moneysavingexpert.com Any views are mine and not the official line of MoneySavingExpert.
    • Ingledene
    • By Ingledene 11th Nov 17, 6:01 PM
    • 2 Posts
    • 0 Thanks
    Ingledene
    • #5
    • 11th Nov 17, 6:01 PM
    • #5
    • 11th Nov 17, 6:01 PM
    Why didn't they take any money off when I made my initial claim 4 years ago?
    • -taff
    • By -taff 11th Nov 17, 7:02 PM
    • 7,098 Posts
    • 5,090 Thanks
    -taff
    • #6
    • 11th Nov 17, 7:02 PM
    • #6
    • 11th Nov 17, 7:02 PM
    Some companies have more rigorous checks in place to see what's owed than others.

    If you are saying that Capital One gave you redress a few years ago, didn't take it off, and now have given you more monwy under Plevin, I'd be waiting for the letter saying oops, we made a mistake.
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