DMP and PPI Offer please help

needamortgage_2

Hi Recently received an offer from a credit card which i was mis-sold PPI.

I am on a DMP and was wondering if the cheque will be sent to me or offset on my debt with them as it was not clear.

I am sure i read that if you ask the bank to send the cheque direct to you because of financial hardship that sometimes they are lenient? has any one found this to be the case? (ideally would have been over the moon if it was coming off the debt, but really struggling to make ends meet, and that money would come in so handy)

Another question they only went as far back as 1999 and when I rang up they said they don't go further back than this, is this the case?

And was also told that the credit card I had gone to a new product in 1999 and they do not have the previous information for this, has any one else found this to be the case?

Thanks for any advice

ps Hope I posted this in the right forum, apologies if not, could someone please direct me to which forum as I am a bit of a newbie

dunstonh

Normally, the redress is used against amounts written off, defaults and arrears before any amount above that is paid to you.

So, as an example, if the DMP involved say a 40% reduction in debt, then they can use the redress firstly against that 40% reduction (so you get no benefit from this). Then they can use it against the 60% you have outstanding. Then, if there is a surplus after all that, the proceeds will come to you.

Some providers may pay you the interest part of the redress directly and only use the capital part.

Another question they only went as far back as 1999 and when I rang up they said they don't go further back than this, is this the case?

They go back as far as their own records. So, it is probably correct.