settling amount to debt collectors

demi66

Hi has anyone had the same experience as me and if so whats best to do? I have been offered a settle figure from capitolone on both charges and ppi on a credit card previously held with them however they refuse to send me the cheque and say they will take it off my outstanding balance however they sold the debt on to a debt collection agency! so effectively i no longer have the debt with capitalone, can they do this and does this contravene any data ptotection issue? need help fast as i need to get back to them?

di3004

demi66 wrote: »

Hi has anyone had the same experience as me and if so whats best to do? I have been offered a settle figure from capitolone on both charges and ppi on a credit card previously held with them however they refuse to send me the cheque and say they will take it off my outstanding balance however they sold the debt on to a debt collection agency! so effectively i no longer have the debt with capitalone, can they do this and does this contravene any data ptotection issue? need help fast as i need to get back to them?

Hi there.

I have come across other posts like this where this tends to happen, not sure if you've had the chance to check them through yet but they are on this thread of PPI and unfortunately this seems to be the case here, with a bit of luck someone with this experience where it involves the debt collection agency may post in, I wish you luck through this anyway.;)

hbos1

Hiya, i was in the same situation with Halifax over 1 wk ago. they agreed to settle the ppi as if id never took it out. I was given a redress figure of 1104.99 and remaining ppi of about 1700.00. They sent a letter saying as my loan was in arrears(sent to debt agency in 2006) they would be off setting it all to the arrears. I wrote back and said no way!! they could put the remaining ppi to the loan arrears but the amount i had already paid(made up of actual pymts and interest refunded) i wasnted paid back to my bank account. I got a letter in yest advising that i would recieve a cheque within 14 days for the full redress of 1104.99!! and a reminder that my loan acc was still in arrears.
to be honest I wrote back to them chancing my arm on any money being paid to me and am very surprised they did. I did quote in my letter that the FSA would award the money to me so i dont know if that helped or if hbos just did it for a quiet life!!
Chance it and see how you get on. I can now use the money to clear off a cc that charges interest every month!!

demi66

hbos1 wrote: »

Hiya, i was in the same situation with Halifax over 1 wk ago. they agreed to settle the ppi as if id never took it out. I was given a redress figure of 1104.99 and remaining ppi of about 1700.00. They sent a letter saying as my loan was in arrears(sent to debt agency in 2006) they would be off setting it all to the arrears. I wrote back and said no way!! they could put the remaining ppi to the loan arrears but the amount i had already paid(made up of actual pymts and interest refunded) i wasnted paid back to my bank account. I got a letter in yest advising that i would recieve a cheque within 14 days for the full redress of 1104.99!! and a reminder that my loan acc was still in arrears.
to be honest I wrote back to them chancing my arm on any money being paid to me and am very surprised they did. I did quote in my letter that the FSA would award the money to me so i dont know if that helped or if hbos just did it for a quiet life!!
Chance it and see how you get on. I can now use the money to clear off a cc that charges interest every month!!

Thanks for that I will give it a go and keep you posted :T