Reclaiming interest but not premiums

jellie

Why should they give you the PPI payments back when this refund is less than the amount they had to write off because you didn't repay your loan?

Just look at it like you've repaid more of your loan, leaving them to write off a little less.

Of course you're frustrated, as I'm sure the bank were when they realised you weren't going to repay the money they lent you.

You still have a debt, it's just that they can't ask you to repay it. It'll drop off your credit files in six years.

If you're really not happy, take up your right to refer your case to the FOS so they can look at it for you.

lippy1923

I really don't get why people find it so hard to understand this type of situation. You borrowed money which you did not pay back in full, as you agreed.

The bank have admitted a mis-sale of ppi and told you a figure of what they owe you. Now if you had paid what you agreed in the first place, you would get the ppi redress in full.

As you broke the T&C's and didn't pay back the full loan (for whatever reason) the bank is out of pocket. So they use the ppi money to go against the under paid loan.

If you think about it morally, they should be entitled to the ppi, not you.

If you borrowed off a friend/ relative and they wrote off the loan, would you then demand they owe you money for something knowing you failed to pay them back in the first place?

ukspawn

If the friend also included ppi without tellig me I wouldnt pay them a penny and I wouldnt call them a friend!!!!. They voided the contract by not following my instructions on setting up the loan in the first place. They made that decission to do that not me. They broke the T/c because I didnt ask for ppi. So the whole thing should be cancelled as if I never had a loan atall. Thats my opinion. And I should recieve all moneys and not havto pay anything as the contract was illigal and thats there fault for still going ahead with it knowing they are mis selling. If you buy somthing from a shop you expect to get what you paid for. If not you get a refund... makes sence to me.

lippy1923

If you had read the contract you signed and looked at statements then you would have realised you were paying ppi. There's no excuse for not knowing about it.

It doesn't really matter what your opinion is, you borrowed the money, happily spent the money, then failed to pay back and they are taking what they are legally allowed to take.

Nothing anyone on here says is going to change the fact they are perfectly able to take the money. It's annoying but that's the way it goes.

ukspawn

lippy1923 wrote: »

I really don't get why people find it so hard to understand this type of situation. You borrowed money which you did not pay back in full, as you agreed.

(I did not agree to the conditions, as I did not agree to ppi)

The bank have admitted a mis-sale of ppi and told you a figure of what they owe you. Now if you had paid what you agreed in the first place, you would get the ppi redress in full.

(Maybe if I hadnt been ripped off with ppi I may be attempting ti pay off my debts)

As you broke the T&C's and didn't pay back the full loan (for whatever reason) the bank is out of pocket. So they use the ppi money to go against the under paid loan.
(The contract was flawed and illigal before I even saw it as u didnt ask for ppi)


If you think about it morally, they should be entitled to the ppi, not you.
(No, as its money that I should have never gave them in the first place andnwould otherwise not exist at all as would have been used for other things had I not had ppi to pay for)

If you borrowed off a friend/ relative and they wrote off the loan, would you then demand they owe you money for something knowing you failed to pay them back in the first place? (Yes if they were doing devious things to make.me pay more id probably punch them too)

Hahaha ahh well atleast im laughing now n not down. Ill just accept I wont get it all.

Thankyou for helping the most annoying person in the world.

ukspawn

Yeah im starting to realise nothing I can do... thanks tho for putting me straight.