NatWest/RBS ignore debt disharge from DRO.(complicated!)

ukspawn

Because it may be like 8pence for all I know. .. it dosent say. And iv asked and they said it is broken down on the form... hild on while I get the form and ill type what the brakedown says... sorry about this it winds me up.

ukspawn

So the Consumer Credit Council guy is wrong? Or am I misunderstanding?

ukspawn

Its probably how im reading and understanding it.im glad I dont do this sort of thing for a living hehe

ukspawn

Thank you guys for your comments, I have today spoke to the insolvency department of RBS as the loan was with Nat West, once I verified my account details and they checked it was agreed the account and debt was closed and they referred me back to their PPI department. On speaking to them they have said if the IVA is complete and account closed any offer made will be paid directly to me, if for some reason they do not I will forward also to the FOS, as for HFC who I originally forwarded to the FOS it appears they are the only company trying to offset.

Here is another example of what im talking about. A DRO is a form of iva...

Im so confused now

ukspawn

Okay, I have the letter here and here is the customer offer.

Total refund of PPI premium and associated interest paid to date :£958.16

Statutory and Stay Interest Values

Gross interestbat statutory rate added to each overpayment from the date of paymentnto date plus additional interest for delay from when we informed youbthe complaint was put on hold : £327.38

Less Tax (20%) : £65.48

Net Interest : £261.90

Total Offer : £1220.09

Please can you help me work out what this means and if anyone knows what number is how much I get after they take the premiums and whatever else they want.
Cheers people.

-taff

You'll get 261.00 if they offset the redress against any amounts they wrote off.

Any they have thoughtfully already taken the tax off, so you'll get 261.00.

ukspawn

Thanks mate. Not as bad as I thought. This isn't going to 'reactivate' my debts with them or anything silly?

Cheers all.

-taff

Essentially, you did reactivate your debt with them by complaining, which is why they're keeping the most part of it but they won't come looking for any amounts that you may still owe.

ukspawn

Will my debt with them ever be "gone" then?
I don't understand the logic of having debt that I have no legal responsibility to repay?
Or is there a case where I would have to repay?

Thanks again for all your replys.

[Deleted User]

ukspawn wrote: »

Will my debt with them ever be "gone" then?

It's already "gone" as far as being chased to re-pay it, but it will remain on your credit file and will certainly prevent you from getting cheap credit in the future.