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PPI and Full and Final Settlement
2sinksme
Posts: 1 Newbie
hi can anyone help me with this dilemma:
i have just been awarded 2k for a ppi mis selling claim ( this will be paid in approx 20days) the lender has informed me that this award will be paid off my debt with themas i am in arrears.
But the lender also has said that this debt is no longer with them and that i must deal with the debt collector.
I have an agreement with a collection agency of 20.00 per month which i have been paying now for the past 6 months. i have called them for a full and final settlement the figure given is less than my award.
Is it possible that if i pay the full and final settlement to the collection agency before i get my award, the award will have to be paid into my personal account as the debt will show as being paid??
Really would appreciate any help
i have just been awarded 2k for a ppi mis selling claim ( this will be paid in approx 20days) the lender has informed me that this award will be paid off my debt with themas i am in arrears.
But the lender also has said that this debt is no longer with them and that i must deal with the debt collector.
I have an agreement with a collection agency of 20.00 per month which i have been paying now for the past 6 months. i have called them for a full and final settlement the figure given is less than my award.
Is it possible that if i pay the full and final settlement to the collection agency before i get my award, the award will have to be paid into my personal account as the debt will show as being paid??
Really would appreciate any help
0
Comments
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Well done on your win.
You need to ring the bank and ask them how they are paying you the redress,if they are giving it to you, then ask for it to paid into your current account,you then phone the debt collector and pay the loan off.
If they are giving it towards the debt first,then you get the surplus back to you.0
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