PPI Reclaiming Discussion Part 5

sugarpuss27

Moneyineptitude wrote: »

If you have the account number and valid reasons for complaint, then go for it!
http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance


It depends on your personal taxation situation, of course. But expect around 20%.

Thanks Moneyineptitude, does being a bit dense count as a valid reason! Will try anyway.
Thanks for your help on the % question as well.:o

monstermuncher

Moneyineptitude wrote: »

A textbook case of speaking too soon I think.
If Halifax have passed your complaint on, it doesn't mean it's been rejected out-of-hand of course.
Did you take out the loan in Ireland?

Haha, definitely!

Nope, nothing to do with Ireland at all, so I'm not sure why I supposedly dealt directly with them! I thought it was in branch, but can't remember for sure.

Will wait and see I guess!

They've also got no trace of teh other complaint, so I need to start that again from scratch. I really did speak too soon :rotfl:

curious39

What if one paid large amounts for protection cover on credit card against unemployment for years, than got unemployed, than was told by the insurance company that the claim was made too late ( it was supposed to be made "immediately", "on the same day"), but really was pressured to take that insurance cover in the first place, and later the credit card debt goes out of the roof and to the debt collectors, the debts are mounting, the flat gets sold and the finale is that the debt collectors accept final and reduced settlements. Is it still eligible for the claim? Bear in mind that that roof over one's head is no more - as it got sold to pay the debts.

[Deleted User]

curious39 wrote: »

later the credit card debt goes out of the roof and to the debt collectors, the debts are mounting, the flat gets sold and the finale is that the debt collectors accept final and reduced settlements.

Forget complaining about PPI once your creditors have accepted "reduced" settlements. Any redress will go to pay off the outstanding debt.
If you do proceed, under no circumstances employ a claims management company or you will be even more out of pocket.

curious39

Moneyineptitude wrote: »

Forget complaining about PPI once your creditors have accepted "reduced" settlements. Any redress will go to pay off the outstanding debt.
If you do proceed, under no circumstances employ a claims management company or you will be even more out of pocket.

Thank you for the reply. I am surprised though. Someone who just completed her IVA says, once the letters of satisfactions were issued and IVA finalised with the certificate, she no longer is under any obligation to pay any PPI money to the IVA therefore she is going to make a claim. I checked and one thread specifically about IVA has an IVA company actually confirm that :
iva (dot) co (dot)
uk/iva_sitemap/PPI_claim_after_completion_letter_receiv_41098.asp

so, basically IVA is finished when one gets the letters of satisfaction from all creditors. The previous scenario is quite similar : letters of satisfaction have been issued, from debt collecting companies, which bought the debt from the creditors i guess. Why would it be different than?

[Deleted User]

curious39 wrote: »

so, basically IVA is finished when one gets the letters of satisfaction from all creditors.

Correct. However, the Bank as a creditor CAN AND WILL be able to put any redress from a PPI complaint towards a partially unpaid debt.

curious39

Moneyineptitude wrote: »

Correct. However, the Bank as a creditor CAN AND WILL be able to put any redress from a PPI complaint towards a partially unpaid debt.

thank you !! however I just checked on the other threads, and, some people have the PPI compensations paid directly to them by cheques or to their accounts by the very same banks that sold their debt.

also the debt has been settled and remaining money "written off", by this definition this should not be "unpaid" , in fact in the letters of satisfaction it says "the creditor will not pursue the debt".

(btw, there has been £120 monthly payments insurance cover against an unlikely event of unemployment on this credit card for years. it had been complete and utter white day robbery. if they paid out the insurance as one should expect that they should have, there would hardly be the need to bury oneself in more and more debt. there was the scenario that one credit card paid for another. why should they grab the money now for causing this mess?)

[Deleted User]

curious39 wrote: »

the debt has been settled and remaining money "written off", by this definition is should not be "unpaid" , in fact in the letters of satisfaction it says "the creditor will not pursue the debt".

The creditor is hardly "pursuing" the debt, if the debtor is the one seeking redress.
I am satisfied that the Banks definitely claw back any redress won by Bankrupts and others with unpaid debts. By all means complain if you'd like, but please don't complain again when any redress goes to pay your unpaid debt.

curious39

I don't understand what you mean by "unpaid debt" in this instance. the debt that reached the final settlement or the other debt that has not, and, is from another creditor and is still being managed?

[Deleted User]

curious39 wrote: »

I don't understand what you mean by "unpaid debt" in this instance. the debt that reached the final settlement or the other debt that has not, and, is from another creditor and is still managed?

I'll leave you to debate that with yourself this evening.
Goodnight and good luck!