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PPI reclaim for defaulted loan
Hi all,
My first post on this site, so....be gentle!
I have a question regarding a PPI reclaim for a loan of 2002, with Lloyds TSB. I had defaulted on it when made redundant and I fell behind repayments. Debt passed to a DCA (AIC Ltd) and eventually 'settled' with an agreed settlement payment in 2008 (house sale). Hearing of PPI reclaims years later, I applied for one against this loan - and the bank agreed I would be compensated. Now, the amount won was used to pay into the 'settled' account - reclaim amount was less than written-off debt.
I just want advice if it was right the money was paid into the 'settled' account instead of my own? Also, what's the meaning of a written off or settled account?
Also, I wanted a settlement letter from the DCA (proof of payment), but was refused as the info on their system is now archived (more than 6months after closure) so told they have no obligation to me - policy? Can the DCA refuse me such a request? (Incidentally, the bank agreed to send me such a letter anyway - so why not the DCA?)
Thanks in advance for any advice.
Leoric
My first post on this site, so....be gentle!
I have a question regarding a PPI reclaim for a loan of 2002, with Lloyds TSB. I had defaulted on it when made redundant and I fell behind repayments. Debt passed to a DCA (AIC Ltd) and eventually 'settled' with an agreed settlement payment in 2008 (house sale). Hearing of PPI reclaims years later, I applied for one against this loan - and the bank agreed I would be compensated. Now, the amount won was used to pay into the 'settled' account - reclaim amount was less than written-off debt.
I just want advice if it was right the money was paid into the 'settled' account instead of my own? Also, what's the meaning of a written off or settled account?
Also, I wanted a settlement letter from the DCA (proof of payment), but was refused as the info on their system is now archived (more than 6months after closure) so told they have no obligation to me - policy? Can the DCA refuse me such a request? (Incidentally, the bank agreed to send me such a letter anyway - so why not the DCA?)
Thanks in advance for any advice.
Leoric

0
Comments
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Hi
Might be better if you post over on this section of the board -
Reclaim PPI & Other Insurance as the folks on there will probably be the most knowledgable regarding your debt.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0 -
Thanks Tixy. Muxh appreciated for response. Will move thread to suggestion.
Regards,
Leanoric0
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