PPI with Debt Management

starlight6

Hi there guys,

I am repaying my debts via a debt management programme with Gregory Pennington, I have become aware thanks to this fab website that some of the debts have included PPI which I was missold, Do you know if I can still reclaim some PPI even if I am still paying off the debt via a debt management company?

Thanks in advance.

dunstonh

Do you know if I can still reclaim some PPI even if I am still paying off the debt via a debt management company?

Yes. However, if you are successful with any lender you have arrears/defaults/amounts written off , then they can use the money towards those before paying them to you.

starlight6

Thank you for this, I appreciate your response. Does anyone know how I can go about reclaiming the PPI costs even though I am using a debt management company? Do I do it the same as other people or should I contact a company or I don't know!!!

You guys give invaluable help & support.
Thanks again

starlight6

I just want to add, one of the reasons why I fell behind with the payments were becuase of the interset hikes and because of how much PPI i was paying, I have read all the facts and know I am eligable for at least 2 companies (Santander Loan & Capital One Credit Card) I have paid off the Cap One credit card myself so will look into doing that with the letter templates, but the santander one I am currently repaying with gregory pennington, as above - please can someone advise me of how I can claim PPI even though I am still repyaing the debt off with debt management - I am happy for the money to go towards the debt I owe, anything helps!!

dunstonh

or should I contact a company

Under no circumstances must you use a claims company.

Lets say you are successful in your complaint but the provider uses 100% of the redress payment to clear your default and you dont get a penny (but the debt is reduced). The claims company will want their x% of that amount even though it hasnt been paid to you (and rightly so). So, you would have to find the thousands of pounds they take out of your own pocket.

So, make the complaint yourself.

DrSqueeze

starlight6 wrote: »

Thank you for this, I appreciate your response. Does anyone know how I can go about reclaiming the PPI costs even though I am using a debt management company? Do I do it the same as other people or should I contact a company or I don't know!!!

Make the complaint in exactly the same way as everyone else, by contacting the lenders yourself.

Write to them, explaining why you believe the PPI was missold (some people use the questionnaire to make sure they include all the necessary details, but a letter is fine)

There are two possible outcomes:

1. They uphold your complaint and use the refund to reduce your debt, which is a win

2. They reject your complaint, in which case you can write to the Ombudsman

Even if both the lender and Ombudsman reject your complaint, then you've not lost anything other than a couple of stamps.

starlight6

Thanks - thats really good information. I contacted Gladstone Brookes a few months ago and they said because I was using Debt Management I wouldn't be able to claim back the PPI if mis-sold. I will definatly follow this up now on my own using the letter templates etc though based on your advice. Thank you