Newbie - Claiming PPI for credit card debts sold on to DCA

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HITS
HITS Posts: 27 Forumite
in Reclaim PPI & other insurance
Hi there

Thanks you for visiting my post, any help/advise is greatly appreciated. Thanks in advance.

I have read lots of posts for the past few days on MSE but haven’t found a clear answer as yet therefore my apologies if I am asking any repeated questions.

I have several credit card debts which I defaulted on and were sold on to DCA and couple which are still owned by the original creditors as per below.

Egg card debt sold on to Robinson Way, balance £11,290,

HSBC card debt sold on to Cabot, balance £2,925,

Lloyds card debt sold on to Cabot, (Lloyds), balance £15,800

Barclaycard - fully settled but previously owned the Egg card debt

Debt still owned by the original creditor but will be statute barred in couple of years:

Capital One, balance £2,640,

Amex, balance £4,900,

My questions:

1) Am I right in saying that I need to claim ppi from original creditors?

2) Would any successful ppi claim be offset against my debt which have been sold on to DCA?

3) Would any successful ppi claim be offset against my debt where the original creditors still owns the debts?

Many thanks in advance.

Comments

  • StopIt
    StopIt Posts: 1,470 Forumite
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    1: Yes
    2: Yes
    3: Yes

    In debt and looking for help? Look here for the MSE Debt Help Guide.
    Also, If you need any free and impartial debt advice, the National Debtline, Stepchange, and the CAB can help.
  • HITS
    HITS Posts: 27 Forumite
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    With regards to question 2, why would it be offset against the debt when it has already been sold on to DCA and also the ppi claim is against the original creditor and not the DCA?

    Thanks
  • societys_child
    societys_child Posts: 7,110 Forumite
    First Anniversary Name Dropper First Post
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    HITS wrote: »
    With regards to question 2, why would it be offset against the debt when it has already been sold on to DCA and also the ppi claim is against the original creditor and not the DCA?

    Thanks
    Do you know for certain the debts were "sold on"? The banks often have an arrangement allowing the debt to be returned to them.
    Debt still owned by the original creditor but will be statute barred in couple of years
    Statute barred means they can no longer chase you, but that doesn't change the fact that the debt is still owed.
  • HITS
    HITS Posts: 27 Forumite
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    societys_child wrote: »
    Do you know for certain the debts were "sold on"? The banks often have an arrangement allowing the debt to be returned to them.

    Thanks for your reply Societys Child. Some of the actual wording from the letters as per below:

    Egg card debt - " I am writing to inform you that the above account was assigned and transferred by Barclaycard to MKDP LLP on..... This means that the effective owners of the above account are now MKDP LLP" letter from Barclaycard

    Lloyds card debt - "We write to inform you that Lloyds Bank has now assigned Cabot Financial (UK) Limited the outstanding balance under the credit Lloyds Bank Credit Card account effective ...." Letter from Lloyds

    HSBC card debt - "The above HSBC account which is currently being handled by Metroplitan Collection Services, has been purchased by Marlin Europe V Limited" Letter from HSBC

    Thanks
  • StopIt
    StopIt Posts: 1,470 Forumite
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    HITS wrote: »
    Thanks for your reply Societys Child. Some of the actual wording from the letters as per below:

    Egg card debt - " I am writing to inform you that the above account was assigned and transferred by Barclaycard to MKDP LLP on..... This means that the effective owners of the above account are now MKDP LLP" letter from Barclaycard

    Lloyds card debt - "We write to inform you that Lloyds Bank has now assigned Cabot Financial (UK) Limited the outstanding balance under the credit Lloyds Bank Credit Card account effective ...." Letter from Lloyds

    HSBC card debt - "The above HSBC account which is currently being handled by Metroplitan Collection Services, has been purchased by Marlin Europe V Limited" Letter from HSBC

    Thanks
    If a debt has been purchased they take over ALL rights the original creditor had.


    This includes taking the money from PPI refunds if the amount owed is greater than the refund. You still owe the money, regardless of it was sold or statute barred. The only case where you receive a PPI refund is for a paid off, or written off line of credit.

    In debt and looking for help? Look here for the MSE Debt Help Guide.
    Also, If you need any free and impartial debt advice, the National Debtline, Stepchange, and the CAB can help.
  • HITS
    HITS Posts: 27 Forumite
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    Thanks StopIt.

    Society Child are you able to give some feedback too?

    Many thanks
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