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PPI claim and DMP
bird78_2
Posts: 12 Forumite
Hi - I hope you can help with this, I am currently waiting to hear the outcome of 6 PPI claims with RBS, I stupidly took out a loan and then would re-do it 12 months later until it grew to huge amounts.
I had PPI on the first 5 loans but not the last one, the last one is now with a DMP, does any amount I am awarded from my claim have to go towards the loan now with the DMP or because the claims are not related to that loan, can I have the payment?
Any thoughts would be gratefully received - the engine has gone on my car and could really do with the money to have it fixed.
Thanks
I had PPI on the first 5 loans but not the last one, the last one is now with a DMP, does any amount I am awarded from my claim have to go towards the loan now with the DMP or because the claims are not related to that loan, can I have the payment?
Any thoughts would be gratefully received - the engine has gone on my car and could really do with the money to have it fixed.
Thanks
0
Comments
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Hi - I have just seen a response given to someone else about this - stating RBS are entitled to keep the arrears and not the full amount - I have been on my DMP for 3 years, what would be classed as the arrears? Sorry if that sounds silly but am up to date with the agreed payments0
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does any amount I am awarded from my claim have to go towards the loan now with the DMP or because the claims are not related to that loan, can I have the payment?
They can use any redress to go against any amount written off, defaulted or in arrears. Only then if there is a surplus, would you see any money. Arrears would be based on the original terms, not those of the DMP.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 -
The 8% goes to you,do not let them take this.0
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