Reclaiming PPI, while on a debt payment program..DAS

joe65

I see by another post, that someone who was made bankrupt would be unlikely to be able to claim back ppi from his cards, or loans

So will the same apply to my debt payment program, I kind of see no point of claim these charges back, if all there going to do, is to offset my debts

When my debts are cleared in 5 yrs time, would it be feasible for me to claim back ppi, especially in years where I was having trouble repaying my payments, and had asked for the ppi to be cancelled, which they took no notice of, instead they told me, I was writing to the wrong department

Stupid_Question

joe65 wrote: »

I see by another post, that someone who was made bankrupt would be unlikely to be able to claim back ppi from his cards, or loans

So will the same apply to my debt payment program, I kind of see no point of claim these charges back, if all there going to do, is to offset my debts

When my debts are cleared in 5 yrs time, would it be feasible for me to claim back ppi, especially in years where I was having trouble repaying my payments, and had asked for the ppi to be cancelled, which they took no notice of, instead they told me, I was writing to the wrong department

I know literally nothing about DAS - a quick google seems to suggest it's just Scotland being Scotland and having their own name for a similar thing and it's a DMP, correct me if I'm wrong.

If you complain and are offered redress it should go against your debt, this is good, whilst you wouldn't save interest as you shouldn't be being charged that any more it'll reduce the time you'll be paying.

It'd be a risk to wait 5 years - most will have time barred you, this madness is not going to last for ever.

Did you not then write to the correct department?!??

coolcait

DAS works along the same lines as a DMP, but it's backed by legislation.

So, by law, creditors have to freeze interest and charges while the DAS is running, and write it off when the DAS finishes. By law, they can't take certain actions to enforce payment of the debt.

It does still affect your credit rating.

If you reclaim PPI while in a DAS, it's likely that the bank will offset it against the debt in the DAS. If that happens, you can apply to vary the DAS, to reduce the amount you owe to the bank, and the DAS will finish earlier. Leaving you debt-free, and able to use your disposable income for yourself.

If you wait to reclaim PPI, then the bank is likely to offset it against the fees and charges they had to write off in the DAS. That's probably not lawful, but you'd be faced with another fight to get the money back.

No idea how long that would take you - especially if the bank hasn't got a clue about DAS in the first place.