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Can banks take PPI and pay off other debt?
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Girlw0nder
Posts: 1 Newbie
Hi all,
I'm expecting a payout this week on a successful ppi claim for a loan. Can a bank take this money and pay off my credit card debt with it directly, obviously without me seeing any of the money?
Thank you x
I'm expecting a payout this week on a successful ppi claim for a loan. Can a bank take this money and pay off my credit card debt with it directly, obviously without me seeing any of the money?
Thank you x
0
Comments
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Yes. Anything you successfully reclaim will usually go first towards paying off any arrears you have with that company.
But if you have a loan with say LTSB, they won't use the money to pay off say an HSBC credit card."Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 20100
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