We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Is it worth me trying to claim PPI?
Katy43
Posts: 131 Forumite
A while back I stupidly got into debt with a credit card from Abbey, they then sold this debt on.
As I understand any PPI monies that I might be able to reclaim would be knocked off the original debt with Abbey and not the collection agency. Is this correct?
What I would like to do is to try and reclaim PPI and put it towards a ful and final settlement with the collection agency.
Can anyone advise please.
Many thanks.
As I understand any PPI monies that I might be able to reclaim would be knocked off the original debt with Abbey and not the collection agency. Is this correct?
What I would like to do is to try and reclaim PPI and put it towards a ful and final settlement with the collection agency.
Can anyone advise please.
Many thanks.
0
Comments
-
As I understand any PPI monies that I might be able to reclaim would be knocked off the original debt with Abbey and not the collection agency. Is this correct?
in most cases it will be paid to collection agency via Santander..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 -
Has anybody here managed to claim PPi from their credit card, when that debt has been sold on and used this money towards a full and final settlement?
Hope this makes sense!0 -
Has anybody here managed to claim PPi from their credit card, when that debt has been sold on and used this money towards a full and final settlement?
Hope this makes sense!
I work in the Debt industry and help people repay their debts in the fastest possible way. Obviously charging for our services when people would like the claims dealt with by a third party rather than doing the claims just as easily on their own!
I have seen many clients recieve claims from creditors even when their are debts outstanding or if the client is in arears. Santander are a common creditor that I have seen pay as cash, also MBNA and Citi.
If you recieve any cash you can normally make an offer to the creditor for a final settlement.
They will normally take into account, your current situation, your previous history with the creditor ( payments made already ) the debt outstanding and the amount offered.
I would normally try and settle a case for around 60% of the balance. Providing that the circumstances are right.
I am sure you will be able to find more information on reduced settlements around the forum.
Hope this helps,
Regards
Aaron0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards