freaking out a bit, whats the worst that can happen(dro)?

debtfree2015_2

Im worrying myself silly!

I was paid a PPI payout, whilst speaking to cccs - nothing had been applied for, just documents sent to me.

I called up for their advise, as PPI was paid into an account with an overdraft, I didnt know whether to take it all out and split, or leave it there. They said, whatever the overdraft has not swallowed take out and split or spend on essentials - leave the overdraft full, as the bank paid it into the account not me.

However when calling to ask more questions, me liking to get triple confirmation Ive done the right thing the person's opinion was that it could be seen as a prefential payment because I could have taken it back out and split the whole lot....Im due a second payout - tax, I was going to use that myself, but now think it would be safer to split it between creditors because of that first payment, have talked this through with cccs - but the payments that creditors will get is still less that what cleared my overdraft.

So, the worrier that I am, I need to prepare myself for worst case scenario, so I can stop going over and over it. If it is seen as preferential payment & DRO is refused, what do I do then?

Thanks in advance for any thoughts

StepChange_Pavan

debtfree2015 wrote: »

Im worrying myself silly!

I was paid a PPI payout, whilst speaking to cccs - nothing had been applied for, just documents sent to me.

I called up for their advise, as PPI was paid into an account with an overdraft, I didnt know whether to take it all out and split, or leave it there. They said, whatever the overdraft has not swallowed take out and split or spend on essentials - leave the overdraft full, as the bank paid it into the account not me.

However when calling to ask more questions, me liking to get triple confirmation Ive done the right thing the person's opinion was that it could be seen as a prefential payment because I could have taken it back out and split the whole lot....Im due a second payout - tax, I was going to use that myself, but now think it would be safer to split it between creditors because of that first payment, have talked this through with cccs - but the payments that creditors will get is still less that what cleared my overdraft.

So, the worrier that I am, I need to prepare myself for worst case scenario, so I can stop going over and over it. If it is seen as preferential payment & DRO is refused, what do I do then?

Thanks in advance for any thoughts

Hi debtfree2015 and thanks for your post.

Neither way of dealing with the PPI payment is incorrect. Unfortunately there’s no black and white solution to dealing with PPI payments like this, so there’s more than one solution.

We’d be happy to discuss this with you in more detail if you call our DRO Team. Greg is aware of your post, so if you ask to be transferred to him, he will go over your options.

I hope this helps.

Kind regards,
Pavan