PPI and Credit management services

qwerty123456789_2

Can someone please advise what one can do if a ppi claim from a bank paid into your account by the bank and the bank advises that this account is being handled by the credit management service and requires you to contact them to authorise before you can take that claim.

bigadaj

qwerty123456789 wrote: »

Can someone please advise what one can do if a ppi claim from a bank paid into your account by the bank and the bank advises that this account is being handled by the credit management service and requires you to contact them to authorise before you can take that claim.

Get some more details from the bank?

Seriously, we have seen several cases where the ppi payout is paid out, but immediately offset against an existing debt with the bank. You will struggle to get this back if this is the case, the only exceptions seem to be if you have more urgent debts elsewhere, ie mortgage debts when PPI is from an unsecured loan or credit card.

Apples2

qwerty123456789 wrote: »

Can someone please advise what one can do if a ppi claim from a bank paid into your account by the bank and the bank advises that this account is being handled by the credit management service and requires you to contact them to authorise before you can take that claim.

Please tell us you haven't paid a huge chunk of your claim to some bottom feeding claims company!!

Seriously, the banks are all geared up for it, they already have the claim form written, all you have to do is enter a few details and return it. You keep the whole lot.

qwerty123456789_2

I have not paid the claims company yet cos the bank have transfered all the pppi claim to the credit management company and the claims comp are now on me back for payment.

bigadaj

qwerty123456789 wrote: »

I have not paid the claims company yet cos the bank have transfered all the pppi claim to the credit management company and the claims comp are now on me back for payment.

So it sounds as though you have paid a claims management firm, reclaimed the PPI on a defaulted loan, been awarded compensation which the bank has then put against the original debt, and the claims management firm is after their share.

If thats correct then all you can do is refer the claims management firm to the bank, and let them argue though can't see the bank paying out. If the contract you signed with the claims management firm allows it they may well come after you for their share.