Received PPI offer letter - are my DRO accounts active?

manwithoutaplan

Hello,

I was under a DRO in 2009/2010. I have received an offer letter from RBS(NatWest) for a PPI reclaim. I understand from these forums that under a DRO my creditors cannot claim the money BUT as the letter states, the money will be paid into any active accounts first THEN by cheque - are they going to try and use the old account I had with them? (which would mean I get no money back)

I'm not sure whether my old natwest account was cancelled as part of the DRO - Does this usually happen? I don't receive any statements from them and have banked with a different bank for years.

Many thanks

AndyBSG

Get a copy of your credit report and it'll show your active accounts on there.

Only takes about 5 minutes to get it on a site like Credit Expert but make sure you cancel it before the free month expires.

(Could even try noodle who have free credit reports but I think they're quite basic)

manwithoutaplan

Thanks Andy I'll try that

manwithoutaplan

Hi again,

I've just got my report and can see some natwest accounts - My PPI compensation payment letter states:

I understand the compensation payment will, if possible, be applied to my current account, where I hold a current account with the RBS Group; otherwise it will be paid to me by cheque.

As displayed in the report, my old natwest current account displays as "Satisfactory" and "Settled" - It was last updated in 2010 (DRO). So does this mean it will be paid into this account?

Thanks - Image below:



Full size: http://img404.imageshack.us/img404/2910/lpj3.png

fatbelly

What they might try to do is called post-morotorium offsetting. There are arguments for and against as to whether this is legal or acceptable.

See my last post in this thread.

https://forums.moneysavingexpert.com/discussion/4650101

I'm currently challenging Barclays where they have done this. There was another thread where Barclaycard did not offset a ppi reclaim.

I have no knowledge of how RBS are playing this but I will try to post how I get on with Barclays

bozuk2013

mine has just ended the 12 month period then i'm not entirely sure as i'm sure they mentioned the companies you origanlly owed to can claim money owing if you have a windwall that is not gambling based etc but i would speak to an advisor either with the national debtline or with the insolvency service to get proper and correct advice on this

manwithoutaplan

I don't think they can claim money back if you are out of the 12 month DRO period (mine was complete in 2011) but this post-morotorium business doesn't sound good, I don't want to sign and process the acceptance letter if all they're going to do is claim it back somehow from the account it's paid into

I'm guessing there is no way for me to close these accounts if they are still open?

manwithoutaplan

After looking again at my credit report in seems my old natwest current account is closed:



Given that my offer letter states:

I understand the compensation payment will, if possible, be applied to my current account, where I hold a current account with the RBS Group; otherwise it will be paid to me by cheque.

I am guessing they must send a cheque? I suppose the only way I'm going to find out is to send the acceptance letter back!

fatbelly

I agree. Send the acceptance letter. That quote sounds like a general statement and not specific to you.

You'll find out what they're going to do at the next stage. If they do offset it we can help you with a complaint.

This would be the basis of the complaint (took some finding as it was not on the DRO board!)

https://forums.moneysavingexpert.com/discussion/4709121

manwithoutaplan

Thanks, I'll send it off tomorrow