claiming ppi after a DRO has ended

ME24

Hi hope someone can help, I finished a DRO in Aug this year and was wondering if i can apply for miss sold ppi on the creditors that were in my dro?? Been reading on some forums that you can and then you can't, bit confused?? If i can what do i need to do? Who do i contact? thanks in advance.

roonaldo

What is a DRO?

dunstonh

You can complain. However, if the settlement agreed an amount written off then the lender can use the redress to go against that write off rather than pay you. If you paid the full amount you owed (and not an agreed lower amount) then you would get the redress payment, if one.

ME24

Debt Relief Order basically my debts are written off after 12 months so i do not owe the creditors anything now. Who can i get in contact with to see if i can apply? Do i go to someone that does it for me and i give them a handling fee?? Sorry im new to this! Thanks

[Deleted User]

ME24 wrote: »

basically my debts are written off

They are "written off" from both sides; yours and your lender.

You can't now complain of mis-selling expecting the Bank to simply award you redress when you haven't paid the money you still owe them.

If your potential complaint is successful, the Bank will be within their rights to off set the redress against amounts written off as part of your Debt Relief Order. In other words you stand to gain personally only if the amount awarded exceeds the amount you still owe.

magpiecottage

Yet another borrower who thinks the bank should pay what it owes them despite not paying back what they borrowed from the bank.

LeoJohnson

Morning All,


I have been reading the threads regarding PPI claims after DRO. While I understand why some would say you cannot get money owed to you when you have not paid debt you owed to the bank, legally, the bank should not be able to keep PPI compensation if DRO has ended. Can anyone clarify this for me? Is there any legal paragraph somewhere dealing with this particular issue? As far as I am concerned, after your DRO ends (12 month passes), all the debts included in DRO are written off. This means, you no longer liable for these debts. Your credit card account should be classed "settled". Unlike in Bankruptcy, in DRO assets do not vest in trustee. Therefore, PPI compensation (or any other money) you receive belongs to you, and neither insolvency service, Official Receiver or your creditors are allowed to keep it. (even creditors included in DRO). Is any one here able to confirm this is correct? I would really appreciate your help. Many Thanks ;
Leo