PPI reclaim repayment

firstclasslass

Forgive me if this has been asked before but I havent found the answer anywhere else.

We have received an offer from M & S of a refund of PPI miss-selling but they are saying that they will repay this to be offset against the arrears that are on the account. (The loan is being repaid currently under an arrangement).

Do we have the right to demand that they send us the repayment or do we have to accept that it must be offset against the arrears?

(Dont get me wrong....we are doing our best to clear our debt but due to living under severe financial pressures at the moment due to ill health, this refund would help with basic living costs).

Any advice would be well received.

Thanks everyone!

marshallka

firstclasslass wrote: »

Forgive me if this has been asked before but I havent found the answer anywhere else.

We have received an offer from M & S of a refund of PPI miss-selling but they are saying that they will repay this to be offset against the arrears that are on the account. (The loan is being repaid currently under an arrangement).

Do we have the right to demand that they send us the repayment or do we have to accept that it must be offset against the arrears?

(Dont get me wrong....we are doing our best to clear our debt but due to living under severe financial pressures at the moment due to ill health, this refund would help with basic living costs).

Any advice would be well received.

Thanks everyone!

From what I can gather from info scattered around if the account is in arrears then they can take this off the loan.

Perhaps another view may come along more favourable but that is how I have read this.