Joint claim ppi....
Helen171
Posts: 8 Forumite
Good afternoon, was looking for some advice please.?
Ex husband and I took a joint credit card with misold ppi, he claimed and received £1400.00 from company and advised me to do the same, which I did.
Had an offer this morning for £160.00 less tax, question is should it be 50/50? Or am I missing something here?
Any advice would be very much appreciated and thank you for your time.
Ex husband and I took a joint credit card with misold ppi, he claimed and received £1400.00 from company and advised me to do the same, which I did.
Had an offer this morning for £160.00 less tax, question is should it be 50/50? Or am I missing something here?
Any advice would be very much appreciated and thank you for your time.
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Comments
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Ex husband and I took a joint credit card with misold ppi
Most credit cards issued in the UK are not joint. They are sole accounts with additional card holders. So, was yours joint or was it an additional cardholder?
The money should go to the primary account holder. Not the additional card holder.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thanks for taking the time to reply.
It was joint as far as I am aware, ex agrees.
Although if it was not I don't understand why they would make a settlement figure at all? As you say it would all go to the primary holder.0 -
Although if it was not I don't understand why they would make a settlement figure at all? As you say it would all go to the primary holder.
It can depend on how the PPI was set up. If the PPI was joint and was 50/50 cover then the redress should be split equally. If it was 70/30 then redress should match 70/30. People sometimes went with different splits if their income was different. i..e one earned £40k a year and the other earned 10k a year.
Sometimes the lender will split the redress as per the agreement of multiple parties. Even when technically, it should all go to one cardholder. e.g. the primary card holder says they want to split it in their initial complaint.
Probably the best thing to do here is asking the card provider why yours is £160 and the other party got £1400. We are guessing at potential scenarios and only asking that question will you know for sure.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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