Help Please!!!

Svensson8

Hi back in may I started proceedings to claim back PPI on a loan I was missold. Since then my finances detoriated to the point I was forced to go for an IVA which was accepted. Since then However I had heard back from Halifax about the PPI and was told that I could expect £545.81 back.

I had a letter back today saying the money had been paid into my bank account, but I no longer have that bank account as it all went into the IVA...What can I do? I don't want to ring Halifax as they were my biggest debtors in the IVA, Is it best just to forget about the £545?

Darren

di3004

Svensson8 wrote: »

Hi back in may I started proceedings to claim back PPI on a loan I was missold. Since then my finances detoriated to the point I was forced to go for an IVA which was accepted. Since then However I had heard back from Halifax about the PPI and was told that I could expect £545.81 back.

I had a letter back today saying the money had been paid into my bank account, but I no longer have that bank account as it all went into the IVA...What can I do? I don't want to ring Halifax as they were my biggest debtors in the IVA, Is it best just to forget about the £545?

Darren

Hi Darren

first of all well done to you.:T:beer:

I would not forget about this money, it is yours.

I would write back and tell them that there is no account, and because you have been out of pocket due to this, you will appreciate that they refund this directly to you as a cheque payment.

Your not going to see this money or benefit from this otherwise.

However, was this a goodwill offer?

Svensson8

No it wasn't a good will offer, they accepted that I was misold a loan and that I should never have been given the insurance in the first place, especially as I said I did not want it!.. I am worried as obviusly the loan account is now in default due to the IVA being in place.

di3004

Svensson8 wrote: »

No it wasn't a good will offer, they accepted that I was misold a loan and that I should never have been given the insurance in the first place, especially as I said I did not want it!.. I am worried as obviusly the loan account is now in default due to the IVA being in place.

All the good reason then why they should refund this directly to you.

Write back as soon as you can, send a copy of their letter, not the original and ask they send you the cheque, as they admitted liability to mis selling and you were out of pocket due to this mis sale. Tell them your not going to benefit from this money as there is no account now, where a cheque payment would be more sufficient for your requirements.

It should be back in your pocket hun.;)

If they do not do this then contact the Financial ombudsman service (FOS).

However, if you want to, post about this on the above IVA thread, where you should also receive advice on there as well.
http://forums.moneysavingexpert.com/forumdisplay.html?f=159

Svensson8

I just rang them and was told that the £545.81 had gone onto my loan account? So I don't know what to do as I said previously I no longer pay this back because of the IVA... All a bit of a con I think.

di3004

Svensson8 wrote: »

I just rang them and was told that the £545.81 had gone onto my loan account? So I don't know what to do as I said previously I no longer pay this back because of the IVA... All a bit of a con I think.

It is Darren your right.

It is up to you, because this in my opinion should have been repaid back to you, so if your not happy with the way this have been dealt with, you can try the FOS, like any other complaint, if your not happy you can do this.

Your now still out of pocket and not going to benefit, and its not your fault in regards of the IVA, this mis selling does not help at all.

If you decide to go to the FOS, ring them first if you want to here and ask if they can help, tell them your not happy with this situation.
http://www.financial-ombudsman.org.uk/contact/index.html

Good luck with this Darren and please keep us posted on this.;)

marshallka

If the biggest debt is Halifax and they have taken the redress against this debt then surely that is the same as being in your pocket as your debt is being repaid. I would look at it as getting towards being debt free.

melorablack

Even though you don't pay it back it is still in arrears and you have a balance outstanding which is why they have taken the refund off the loan account.

marshallka

melorablack wrote: »

Even though you don't pay it back it is still in arrears and you have a balance outstanding which is why they have taken the refund off the loan account.

Posted at the same time then Melorablack;).

melorablack

marshallka wrote: »

Posted at the same time then Melorablack;).

We're getting good at this :rotfl:

di3004

Cheers for posting on this one, I was getting rather confused in regards of the IVA, so glad you 2 came along to clarify.:D;)