PPI on statute barred debt sold to DCA

SideShowBob

Hi,

I had a credit card with Barclaycard which due to circumstances I defaulted on in 2002.

The debt had been sold to Lowell Group and as I have had no contact or paid any monies to them in over 6 years I assume the debt is statute barred.

I have read some posts that say I can still reclaim PPI against Barclaycard even if the debt has been sold to Lowell and that Lowell are not entitled to any money from the claim.

dunstonh

I have read some posts that say I can still reclaim PPI against Barclaycard even if the debt has been sold to Lowell and that Lowell are not entitled to any money from the claim.

Depends on the commercial arrangement between the debt collection agency and the lender. In most cases, the lender will use any redress against any debt written off. In some cases they cannot.

amersall

Just a thought, but by doing the PPI claim, does this not mean that you are acknowledging the debt even after the time bar?.

tifo

It depends what the bank do. Some will refund it to you, some will send it to DCA. The FOS will agree with either.

BigPhil

amersall wrote: »

Just a thought, but by doing the PPI claim, does this not mean that you are acknowledging the debt even after the time bar?.

Nothing can restart the clock after six years so it remains Stat Barred and no enforcement can be undertaken.