We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Reclaiming PPI while in debt
markdraper
Posts: 20 Forumite
I am after some advice please.
I have been approached by a agency who claim to be able to get the PPI reclaimed on loans and credit cards, but what do I do, as we are in a dmp with the cccs on the debt.
Is it worth the agency doing anything, or is it something that I can do on my own and then not have to pay a fee.
If the ppi claim is successful, would the creditors just decrease the amount owed?
Any help would be much appreciated. Cheers
I have been approached by a agency who claim to be able to get the PPI reclaimed on loans and credit cards, but what do I do, as we are in a dmp with the cccs on the debt.
Is it worth the agency doing anything, or is it something that I can do on my own and then not have to pay a fee.
If the ppi claim is successful, would the creditors just decrease the amount owed?
Any help would be much appreciated. Cheers
0
Comments
-
I have been approached by a agency who claim to be able to get the PPI reclaimed on loans and credit cards
There are no agencies doing this. There are only companies that are doing it.but what do I do, as we are in a dmp with the cccs on the debt.
Under no circumstances must you use a claims company. An honest claims company would have told you this. If this one didnt then it tells you what they are like.If the ppi claim is successful, would the creditors just decrease the amount owed?
It can first go against any amount written off, then if there is anything left, it will go against the debt outstanding. IF you used a claims company, they would charge you against the full amount of the redress. even if you didnt see a penny of it personally.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 -
Thank you for answering some of my thoughts.
So how do I do this on my own then, is there a starting letter to send to the creditors.
And would I send it to the banks or the debt companies working on. Ehalf of the banks?0 -
You just send your reasons for complaint in a short letter to the banks in question. There is an FOS questionnaire you can send in as well (download from this site in the article I believe) if you feel letter writing is not your strong point.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
-
So do I send it to say HSBC, or the debt company that they have passed it onto?0
-
The debt company didnt sell it and have no responsibility for the sale. You send it to the seller, in this case HSBC.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
-
Just noticed your rosettes dunstonh :eek: blimey
:D:D
Didn't you do well?:D:D Thought i was doing good with 3 medals! 0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards