PPI Reclaiming Discussion Part 5

[Deleted User]

Humphrey17861 wrote: »

Monument state that they are offsetting the money against the outstanding balance of (believe it or not) £2387.07, and therefore no money will be coming her way. They seem to have ignored the fact that this debt was paid off with the agreed amount of £1200 four years ago.

Clearly she didn't pay off the whole amount. The bank are within their rights to offset against any monies which were written off and there is nothing you can do about this. Remember that the bank accepted £1200 as a full and final settlement, but that was a loss to them. You cannot then expect them to pay your daughter an additional sum while this money remains outstanding.

dunstonh

A few months ago she received a ‘final settlement’ letter from Monument stating that all PBP charges will be refunded, together with statutory interest. The figure due being a total of £2387. However, Monument state that they are offsetting the money against the outstanding balance of (believe it or not) £2387.07, and therefore no money will be coming her way. They seem to have ignored the fact that this debt was paid off with the agreed amount of £1200 four years ago.

They are correct in doing this. The debt was not paid. A reduced settlement was agreed which left part of the debt written off.

The rules are quite logical on this. Where an amount was previously written off as part of an agreed settlement, any future redress can be used to go against that amount written off.

An agreed settlement means that they will not come after you in the courts. However, the debt still exists as it was never repaid.

Any help, advice, or even an e-mail address for contact would be most welcome.

Monument are correct in what they have done.

[Deleted User]

tomtontom wrote: »

What I would question here is why your daughter paid towards his outstanding debt. Did he have assets that she benefited from? If someone dies with no estate then any debts solely in their name would be written off.

Yes, I agree this aspect does needs clarifying. Why indeed was the widow still paying towards this outstanding debt in the first place?

Humphrey17861

Thanks for your response.

The words used in the settlement were 'full and final settlement', which I thought would be just that.

She paid towards the debt as the house was left to her (originally in his name only) and she did not want to sell it to pay his creditors. Obviously, the value of the house formed part of his estate.

Nasqueron

Humphrey17861 wrote: »

Thanks for your response.

The words used in the settlement were 'full and final settlement', which I thought would be just that.

She paid towards the debt as the house was left to her (originally in his name only) and she did not want to sell it to pay his creditors. Obviously, the value of the house formed part of his estate.

They use F&F to say that they will mark the debt as completed (so doesn't impact the credit rating as much) and that they won't chase any more. That doesn't mean that the money was repaid.

Without meaning to sound like an !!!, you can't seriously have expected to pay £1200 towards a £3600 debt and then claim back £2400 in PPI fees meaning the bank would have been £4800 out of pocket?

[Deleted User]

Humphrey17861 wrote: »

The words used in the settlement were 'full and final settlement', which I thought would be just that.

They were "just that". You paid £1200 and the Bank accepted that. No more money will be paid by you, but neither will it be refunded by the bank.
That's very full and very final.

Keir66

Hi everyone, recently I wrote to BOS regarding reclaiming the PPI policy I was sold with the card back in 2001.


I wrote to them filling in their standard complaints questionnaire with a covering letter asking them to look into my claim. I received a letter confirming they had received my complaint form and in writing promised to complete the claims process by 16th of February this year. Today less than a month after sending off my letter I have received a letter from them refusing to honour my complaint having spoken to me and then considering my claim. I have been told that I have insufficient ground to claim as I claimed on the grounds that I was never advised that I could find another policy that would be much cheaper. Is this not grounds for a complaint as I was never advised I could take a policy from another company to cover the payments. Some of the language in the letter is rather concerning as it reads in a lot of the answers in the explanations the following statement 'I believe it more likely than not that' This then follows with an explanation of why my concerns have been turned down. Surely they should have definite proof that all these reasons were definitely explained to me not just they believe they should have been ! The final nail in the coffin seems that even though they have a set time to respond to these claims that due to new FCA rules not yet in place that may insist rules on detailing commission gained on these policies that my complaint has not been closed until they know exactly what these rules will be ! Surely they can't do this ? I hope someone can help me with this as I am sure what they are trying to do is fob me off !!!!


Waiting in Hope - thanks in advance xx

[Deleted User]

Keir66 wrote: »

Surely they should have definite proof that all these reasons were definitely explained to me not just they believe they should have been

They were and are under no obligation to inform you that other providers are cheaper! You wouldn't find Tesco telling you it was cheaper in Asda!

The reason they have been able to respond to your "complaint" so quickly is that it really has little validity. You make "hearsay" allegations for which you, as the accuser, have the burden of proof. The Bank don't have to prove your allegations aren't true as they are not making the complaint of wrong-doing.

The "final nail" appears to be that your concerns seem to be related to the Plevin case which has yet to be heard in the High Court. So they are forced to not issue a full and final response until that case is concluded.
Unfortunately, going only on what you detail in your post, it's unlikely there will be a successful outcome for you.

Keir66

Hi MoneyIneptitude and thank you for the advice. I think you are probably right in saying that I don't have much of a case here. I was looking to see if I had any case to claim some recompense but it seems unlikely. I have been fairly successful though in reclaiming Loan PPI in the last few years so don't feel too disappointed.

Shaun021963

Hi
I have taken out many mortgages over the years and have been told I had to take out a high loan to mortgage fee. This was either paid or added to the mortgage as far as I can remember. I was told I had to have it for the mortgage to progress.
Is this a form of PPI and would I be able to claim.
Thanks .
Shaun