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FirstPlus PPI won BUT being used to pay arrears

MAJammer

MAJammer Posts: 1 Newbie

7 June 2012 at 3:22PM in Reclaim bank & credit card charges

Hi there,

I've had my PPI case upheld (good news) and better news it's over £20K! ..... however because my account is in arrears they, FirstPlus are putting the 'won' amount to reduce the arrears on the account... I can see that this is fair it just makes it all the harder to take...any advice or is this just the way it is?

I should say that they are offering me the interest £1.2K

many thanks,

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Comments

[Deleted User] Posts: 26,612 Forumite

7 June 2012 at 4:22PM

MAJammer wrote: »

I should say that they are offering me the interest £1.2K

That will be taxable, of course.
(Just to rub salt into the "wound");)

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techno1029 Posts: 105 Forumite

2 July 2012 at 3:02PM

Is this beacuse your account is over 20k in arrears????

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dunstonh Posts: 120,000 Forumite

2 July 2012 at 5:09PM

any advice or is this just the way it is?

Normal outcome is that the capital repayment goes against the arrears and interest to you.

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.

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