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PPI refund and arrears
abetterfutureahead
Posts: 30 Forumite
I applied for a refund of PPI on a really old loan that I paid off several years ago. I wasn't expecting to receive anything, Well beleive it or not I received a letter offering me just short of £1000 :T
On the acceptance form it says
" I/we understand that you will use part or all of the refund to repay any arrears that are due at the time the payment is made "
My question is, although I paid this loan off in full I have an outstanding loan which is in default of aprox £600. Will the PPI refund go towards this loan.
I just want to add I'm planning on going bankrupt very soon
On the acceptance form it says
" I/we understand that you will use part or all of the refund to repay any arrears that are due at the time the payment is made "
My question is, although I paid this loan off in full I have an outstanding loan which is in default of aprox £600. Will the PPI refund go towards this loan.
I just want to add I'm planning on going bankrupt very soon
0
Comments
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They may be able to set it off against a debt owed to the same institution.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
I have received FULL payment of just under £1000 for this PPI :j No deduction for outstanding loan.
I now have the funds to go bankrupt :beer:0
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