PPI offer, but concerns

mr-p

Hi

I have used one of these companies to reclaim PPI and the bank have made an offer to settle in full, success, however I have a concern.

The loan this was attached to was never paid in full and went into my bankruptcy in 2009 which I was discharged a year later.

Would the bank actually pay me the PPI or would I lose it against the loan not paid ?
Would the receiver come back on the scene and take it ?

So, would I receive the payout from the bank or lose it and still have to pay the company their percentage, therefore losing out ???

Any help gratefully received

debtinfo

hi please have a look at my PPI thread, you dont have the right to make the PPI claim or to keep the proceeds

this hopefully should answer many of your questions

https://forums.moneysavingexpert.com/discussion/3766585

alastairq

hi...................the right to pursue the bank for a PPI claim on an account included in the BR was not yours to make, but the OR's.

The bank will send the compensation to the OR.

see the thread below for most answers.

https://forums.moneysavingexpert.com/discussion/3461629


The only question currently not answered is the one you posed last..ie would the company you engaged to pursue the PPI be able to claim their fees directly from you?

I suspect they may be on sticky ground with that one, as you had no legal authority to engage them....you rights were transferred to the OR on the date of BR...and the company should have checked this point?

However, I'm not sure so I leave that to others to reply to.


edit.sorry DI, beat me to it again....can you respond to the question I hilited, please?

debtinfo

hmm.... i can see 2 sides to that point especially if the OP told them they were bankrupt when he engaged their services.

You could argue that the solictor should have given the OP a good indication of their chances of success if they had all the info,

on the otherhand, is it against the law to ask a solicitor to fight a pointless case, im not sure maybe someone else can answer that, solicitors fight dubious cases all the time and occasionally they win and set a new legal precedent differnt form the common understanding that existed previously

TBH though i doubt any of that came into it and the company was probably just tring to get though as many easy case and get lots of fees quickly (otherwise known as jumping on the bandwagon)

debt_doctor

Did they ask you if you had ever been bankrupt?

DD