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  • FIRST POST
    • katsikaki80
    • By katsikaki80 4th Dec 17, 6:49 PM
    • 2Posts
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    katsikaki80
    Capital One PPI Plevin Success but Allocated Against Balance
    • #1
    • 4th Dec 17, 6:49 PM
    Capital One PPI Plevin Success but Allocated Against Balance 4th Dec 17 at 6:49 PM
    Hi Everyone,

    I'm new to the forums but have been following them for a number of years and have proved more than helpful.

    I have a query relating to my PPI Plevin redress from Capital One. I'm currently on a DMP with StepChange and Capital One are aware of this and have been receiving payments managed by them for over a year. I'm two months in arrears with rent and have just missed my payment for Council Tax but Capital One are insistent on using the £2000 redress to repay my card balance, when I am in clear financial hardship and this money would have been used to clear those priority debts.

    They have asked me to prove this but I don't really want to stir up a hornet's nest with my landlord by contacting him asking him to write a letter to this effect. Obviously, a warning will be dropping through my door very soon for Council Tax but I don't want this to escalate, as I was at a point of no return with the Council last year.

    What are my options here? Capital One have my reference number for StepChange but are refusing to budge until I can provide proof of financial difficulties.

    Thanks in advance for your help.
Page 1
    • dunstonh
    • By dunstonh 4th Dec 17, 6:56 PM
    • 89,919 Posts
    • 56,592 Thanks
    dunstonh
    • #2
    • 4th Dec 17, 6:56 PM
    • #2
    • 4th Dec 17, 6:56 PM
    What are my options here?
    You know them already.

    Lenders are allowed to put it against the debt but when you can evidence financial hardship, they will often consider changing that. You need to decide what you want to do.
    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.
    • Moneyineptitude
    • By Moneyineptitude 4th Dec 17, 6:57 PM
    • 18,906 Posts
    • 10,122 Thanks
    Moneyineptitude
    • #3
    • 4th Dec 17, 6:57 PM
    • #3
    • 4th Dec 17, 6:57 PM
    Capital One have my reference number for StepChange but are refusing to budge until I can provide proof of financial difficulties.
    Originally posted by katsikaki80
    Whatever your misgivings about it, you have no choice other than to provide the evidence requested if you want the Bank to pay out.
    • duffs54
    • By duffs54 5th Dec 17, 3:23 PM
    • 120 Posts
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    duffs54
    • #4
    • 5th Dec 17, 3:23 PM
    • #4
    • 5th Dec 17, 3:23 PM
    Can't you reclaim just the interest back for yourself, in PPI claims you pay back the bulk to the company you owe, but they are not allowed to keep the interest, is this the same with Plevin possibly?

    Under the Plevin rule, if more than 50% of your PPI's cost went as commission to the lender and this wasn't explained to you, you're due the extra, plus interest.
    • -taff
    • By -taff 5th Dec 17, 6:38 PM
    • 7,172 Posts
    • 5,162 Thanks
    -taff
    • #5
    • 5th Dec 17, 6:38 PM
    • #5
    • 5th Dec 17, 6:38 PM
    You could use your bank statements instead of asking the landlord to write to them, and point out you are in arrears for rent as there will be no debit for it. If you have your rental agreement, you can show you are renting above board.
    • katsikaki80
    • By katsikaki80 5th Dec 17, 10:58 PM
    • 2 Posts
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    katsikaki80
    • #6
    • 5th Dec 17, 10:58 PM
    • #6
    • 5th Dec 17, 10:58 PM
    Thank you for all of your help and replies.

    You could use your bank statements instead of asking the landlord to write to them, and point out you are in arrears for rent as there will be no debit for it. If you have your rental agreement, you can show you are renting above board.
    Originally posted by -taff
    I would happily do this but I don't know if they will get confused about the timing of the payments, as they're all over the place. For example, I've just paid for rent that was due October 28th on the 4th December and paid on the 27th October for September 28th. They might look at this as being nearly on time as they don't specify which month they're for. My statement for this last year does show 3 returned rent payments though as there were insufficient funds.

    I also have evidence on my statement that coincides with extra borrowing (247MoneyBox - yes stupid I know but I can't let more rent lapse) that I can't afford to cover the latest rent payment I have made - on exactly the same date, going in to the same account.

    Can't you reclaim just the interest back for yourself, in PPI claims you pay back the bulk to the company you owe, but they are not allowed to keep the interest, is this the same with Plevin possibly?
    Under the Plevin rule, if more than 50% of your PPI's cost went as commission to the lender and this wasn't explained to you, you're due the extra, plus interest.
    Originally posted by duffs54
    Is that actually a thing? £900 of the Plevin was a refund and over £1000 interest. Would be interesting to know if it was.
    Last edited by katsikaki80; 05-12-2017 at 11:16 PM.
    • -taff
    • By -taff 6th Dec 17, 6:14 PM
    • 7,172 Posts
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    -taff
    • #7
    • 6th Dec 17, 6:14 PM
    • #7
    • 6th Dec 17, 6:14 PM
    Payday loan borrowing is a good indicator that you're in financial difficulty
    • CMS301272
    • By CMS301272 15th Dec 17, 6:26 PM
    • 1 Posts
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    CMS301272
    • #8
    • 15th Dec 17, 6:26 PM
    • #8
    • 15th Dec 17, 6:26 PM
    Hi, I wondered if there was an update to this post from capital one ?
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