redress on PPI & debt collection agencies

dizzyblondbabe

Hi
Can you please advise me on the following.

I have had a redress figure from Barclays Bank for £9000. I had a loan off the bank and due to illness I fell behind with the payments. to cut a long story short, I have a repayment plan up and running with a collection agency. What I need to know is do I receive the money, or does it automatically go to the agency? If it comes to me I would like to pay some of the balance off, but, due to health problems I don't work and I struggle with other payments. I would like to be able to pay some other debts off aswel.

Can you please tell me what the procedure is?

amersall

Hi there,usually if you have arrears your redress will reduce those down first.
Give Barclays a ring and ask how you will be paid this redress,you never know,they might just give it to you.
And well done on your win.

magpiecottage

If you fell ill why did you not claim on the PPI?

curious39

Hi, what is the situation with the debt being settled already by getting a reduced settlement? can one get ppi compensation on this?

i had the ppi against unemployment on one credit card for a long time at around £100 per month, but when i actually got unemployed i did not claim it due to a very negative and unsympathetic response from the insurer. i started living off other credit cards and signed up for jsa much later , and only when things got extremely out of hand ( never been unemployed before and found the situation too embarassing, my father got a stroke in US and the medical bills in california were around 100,000 dollars per hospitalisation so the change in the family circumstances got overwhelming for a while ). having later paid off the debt collectors from the money from the flat that i sold in the meantime, could i still claim the ppi for myself now, two years after settling the debt ? i still need to pay off one remaining debt collector - B.O.S. which is for £ 8, 000. i am not on iva, dro or bankrupcy although my psychoterapist adviced me to just sing "let it be", float in the air on the clouds, stop fighting and just wait for bailiffs to take over which was one good advice too many and simply, thank gOd did not happened ( ha ! ) .

amersall

If you mean the PPI that you paid to this card, then yes if you have reasons for mis sell

http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance#step2

If i have read your post right, they took a full and final payment on this to close the account? they may take any redress to settle any remaining monies you owe, hopefully someone who knows how this works may come along and help more, or just put the claim in and see what happens.

curious39

thanks. i have heard of the redress thing. what a bummer. lol!