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  • FIRST POST
    • HITS
    • By HITS 31st Aug 17, 11:14 AM
    • 27Posts
    • 2Thanks
    HITS
    Newbie - Claiming PPI for credit card debts sold on to DCA
    • #1
    • 31st Aug 17, 11:14 AM
    Newbie - Claiming PPI for credit card debts sold on to DCA 31st Aug 17 at 11:14 AM
    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.
Page 1
    • StopIt
    • By StopIt 31st Aug 17, 11:32 AM
    • 1,391 Posts
    • 1,182 Thanks
    StopIt
    • #2
    • 31st Aug 17, 11:32 AM
    • #2
    • 31st Aug 17, 11:32 AM
    1: Yes
    2: Yes
    3: Yes
    • HITS
    • By HITS 1st Sep 17, 9:18 AM
    • 27 Posts
    • 2 Thanks
    HITS
    • #3
    • 1st Sep 17, 9:18 AM
    • #3
    • 1st Sep 17, 9:18 AM
    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
    • By societys child 1st Sep 17, 11:55 AM
    • 4,809 Posts
    • 5,236 Thanks
    societys child
    • #4
    • 1st Sep 17, 11:55 AM
    • #4
    • 1st Sep 17, 11:55 AM
    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
    Originally posted by HITS
    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
    • By HITS 1st Sep 17, 12:22 PM
    • 27 Posts
    • 2 Thanks
    HITS
    • #5
    • 1st Sep 17, 12:22 PM
    • #5
    • 1st Sep 17, 12:22 PM
    Do you know for certain the debts were "sold on"? The banks often have an arrangement allowing the debt to be returned to them.
    Originally posted by societys child
    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
    • By StopIt 4th Sep 17, 8:35 AM
    • 1,391 Posts
    • 1,182 Thanks
    StopIt
    • #6
    • 4th Sep 17, 8:35 AM
    • #6
    • 4th Sep 17, 8:35 AM
    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
    Originally posted by HITS
    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.
    • HITS
    • By HITS 7th Sep 17, 6:40 PM
    • 27 Posts
    • 2 Thanks
    HITS
    • #7
    • 7th Sep 17, 6:40 PM
    • #7
    • 7th Sep 17, 6:40 PM
    Thanks StopIt.

    Society Child are you able to give some feedback too?

    Many thanks
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