abbey success sort of

davesy5250

i took a loan out with abbey in 2004 over 5 yrs and unfortunately in aug 2007 i couldnt keep up the repayments on it

i have successfully won back my ppi today but they say they are taking the refund off the arrears on the loan

can they do this as surely the ppi was a seperate agreement and diffrent to the loan agreement im in arrears with

i suppose its a big chunk off my arrrears so not all bad but could do with the cash in my pocket not off the arrears at this moment in time

i just wanted this verifying before i send the acceptance letter back

cheers

di3004

davesy5250 wrote: »

i took a loan out with abbey in 2004 over 5 yrs and unfortunately in aug 2007 i couldnt keep up the repayments on it

i have successfully won back my ppi today but they say they are taking the refund off the arrears on the loan

can they do this as surely the ppi was a seperate agreement and diffrent to the loan agreement im in arrears with

i suppose its a big chunk off my arrrears so not all bad but could do with the cash in my pocket not off the arrears at this moment in time

i just wanted this verifying before i send the acceptance letter back

cheers

Hi there Dave.

First of all well done and Congratulations.:beer:

Unfortunately, this is what they do tend to do - when there are arrears outstanding, however some will write to argue that it should not be repaid directly to the account as they were mis sold this in the first place, where this have put them out of pocket.
It may be worth telling them this, but there are no guarantees they will do this, I have though from other sites read that some have been successful doing this, but not all banks are all that lenient.

Like you said though, it helps reduce the balance, so this is still good as well.
Good luck.;)