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Halifax credit card PPI success but can they keep the money?
LouB2
Posts: 5 Forumite
Hi
I am reclaiming various charges for a friend who is in financial hardship, he was advised by the CCCS to go for an IVA but wants to try to sort things out himself. I have arranged token payments for his 2 credit card debts which has helped as he has more money spare to deal with other debts and to keep his business running. He was misold a PPI by the Halifax (due to being self employed) and they have agreed to refund the money plus interest plus 8% which amounts to £2153:beer: BUT they are going to take the money off his credit card debt rather than send him a cheque.
Although this is a great result it would have been more useful to pay off some of his more urgent debt ie: The tax man with the money. Does anyone know if the Halifax are allowed to do this? I can't help feeling that his debt would be much less now if he hadn't had the PPI so the money should be his.
Thanks to everyone for this fantastic site and all the resources. Will keep you posted on my 5 other claims.
I am reclaiming various charges for a friend who is in financial hardship, he was advised by the CCCS to go for an IVA but wants to try to sort things out himself. I have arranged token payments for his 2 credit card debts which has helped as he has more money spare to deal with other debts and to keep his business running. He was misold a PPI by the Halifax (due to being self employed) and they have agreed to refund the money plus interest plus 8% which amounts to £2153:beer: BUT they are going to take the money off his credit card debt rather than send him a cheque.
Although this is a great result it would have been more useful to pay off some of his more urgent debt ie: The tax man with the money. Does anyone know if the Halifax are allowed to do this? I can't help feeling that his debt would be much less now if he hadn't had the PPI so the money should be his.Thanks to everyone for this fantastic site and all the resources. Will keep you posted on my 5 other claims.
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