PPI Reclaiming Discussion Part 5

[Deleted User]

squiggler wrote: »

They are now saying that they will pay me the interest and apply the premium refund to the debt, which I can understand (although I thought the debt was dead tbh). However, they want to restructure the remaining £1000 that would be left of the debt. I am deeply unhappy about this as I felt that this debt was behind me.

You have no say in this as the Bank won't be asking your permission. It's still an outstanding debt which they agreed to allow you to default on when the circumstances were different. I'd say the Bank's actions are quite fair and reasonable, given the size of the redress.
On the positive side, at least you'll have the interest payment to do with as you please.

squiggler_2

Moneyineptitude wrote: »

You have no say in this as the Bank won't be asking your permission. It's still an outstanding debt which they agreed to allow you to default on when the circumstances were different. I'd say the Bank's actions are quite fair and reasonable, given the size of the redress.
On the positive side, at least you'll have the interest payment to do with as you please.

Thanks for the reply, I am not unhappy with the refund going to the old debt, but at the thought that they propose to restructure the remainder? Can they do this?

Nitamcc21

squiggler wrote: »

Thanks for the reply, I am not unhappy with the refund going to the old debt, but at the thought that they propose to restructure the remainder? Can they do this?

Well i would guess the probably can as they know you have another £5,000 coming from them. It might be worth paying them the £1,000 out of the interest and being completely rid of it. I would also say that I would be inclined to check with officials around what you have to do if you come into 'sums' of money regarding old written off debts. The last thing you want to do is spend the money then you get chased for it as it should have gone else where. Don't want to cause Alarm at all its just with you saying that they are wanting to restructure the last £1,000.... better be safe than sorry!!;)

Hopefully someone can give you some guidance that will help

Neets

[Deleted User]

Nitamcc21 wrote: »

Well i would guess the probably can as they know you have another £5,000 coming from them. It might be worth paying them the £1,000 out of the interest and being completely rid of it.

Best advice I can think of here is for squiggler to post his query over on the IVA and DRO board where there will be posters with far more knowledge than us about debt matters of this nature; Go here:
http://forums.moneysavingexpert.com/forumdisplay.php?f=159

squiggler_2

Moneyineptitude wrote: »

Best advice I can think of here is for squiggler to post his query over on the IVA and DRO board where there will be posters with far more knowledge than us about debt matters of this nature;
Thanks, will do

[Deleted User]

squiggler wrote: »

Thanks, will do

I replied to you further over there!;)

dolphingazer

Hi moneyineptitude,

I have just found another loans paperwork for Blackhorse.

Should I wait until I receive a letter of comfirmation that Blackhorse have received my other forms (sent replacement ones last week) before I send this one or should I just send it and hope it gets to the correct place.

Thanks in advance.

[Deleted User]

dolphingazer wrote: »

Should I wait until I receive a letter of comfirmation that Blackhorse have received my other forms (sent replacement ones last week) before I send this one or should I just send it and hope it gets to the correct place.

I'd wait until confirmation is received, because you'll then have a complaint reference number to put with any photocopied documentation you subsequently send to them.
Do you think it'll strengthen your case much? It might not be worth bothering to send it all if the existing supporting evidence is sufficient.

payslip999

Hi

Does anyone know how much I will get back if I have paid £7000 on PPI insurance on my MBNA credit card over the past 12 years. I am awaiting a final reponse from MBNA re this matter.

Thanks

[Deleted User]

payslip999 wrote: »

Does anyone know how much I will get back if I have paid £7000 on PPI insurance on my MBNA credit card over the past 12 years.

If you paid £7,000 and your complaint is upheld, you'll get....£7,000!

(Plus 8% interest;))