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Claiming back ppi after defaulting
jamesuk01
Posts: 7 Forumite
Are we allowed to claim back PPI on loans and credit cards after defaulting?
I have searched the forums and found info after going bankrupt but not after defaulting.
I have entered into a DMP and wondered if I could still claim for them all now.
Bit cheeky yep, but thought I`d ask.
Cheers
Jim
I have searched the forums and found info after going bankrupt but not after defaulting.
I have entered into a DMP and wondered if I could still claim for them all now.
Bit cheeky yep, but thought I`d ask.
Cheers
Jim
0
Comments
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Are we allowed to claim back PPI on loans and credit cards after defaulting?
I have searched the forums and found info after going bankrupt but not after defaulting.
I have entered into a DMP and wondered if I could still claim for them all now.
Bit cheeky yep, but thought I`d ask.
Cheers
Jim
If you have a valid reason for mis sale then yes you can claim.
If you are on a reduced payment plan or DMP any redress you win will most likely be deducted from the money you owe the lender. It will be doing you a favour in the long run because it would mean that your debt will be repaid quicker!
I hope this helps.0 -
The lender can first use the redress to go against amounts written off if there has been an agreed reduction. Then defaults and then arrears. So, as long as the redress is greater than the amount written off, your overall debt will be reduced.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
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Ok cool, thanks for the info. I will pull off some sample letters and get them sent out. Worth a shot if it may reduce the debt.
Cheers
Jim0
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