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Where is PPI refunds paid
Janicem
Posts: 1 Newbie
I have been given an offer however it says if i am in arrears the money will be used to offset the loan. Though i still have outstanding on the loan i am not in arrears and make all the regular payment, my question is will the pay the refund into my current account or will it go straight to the loan. If it goes straight to the loan can i contest because it is my money taken from me and i should decide how it should be best used.
Thanks so much for any advice
Janicem
Thanks so much for any advice
Janicem
0
Comments
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If it goes straight to the loan can i contest because it is my money taken from me
It wasnt money taken from you. What happened is that they increased the amount your borrowed. So, if fairness is taken into account then they should then reduce the amount your borrowed.
However, typically, if you are not in arrears/have defaults or amounts written off then the money is paid to you. Just as it says in your letter.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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