PPI whilst on DMP

edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
3 replies 819 views
winefredwinefred Forumite
1 Post
edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
I had a PPI on a loan taken out with Lloyds TSB some 7 years ago. I struggled and have been on a Debt Management Plan for around 3 years and the loan has now been sold on. My question is can I make a claim for the refund of PPI if debt has been sold on. I found out about the PPI earlier this year when a leaflet came in post from Lloyds but was afraid to make any claim whilst in a DMP with them as I didn't want to 'rock the boat'

Replies

  • dazladazla Forumite
    191 Posts
    winefred wrote: »
    I had a PPI on a loan taken out with Lloyds TSB some 7 years ago. I struggled and have been on a Debt Management Plan for around 3 years and the loan has now been sold on. My question is can I make a claim for the refund of PPI if debt has been sold on. I found out about the PPI earlier this year when a leaflet came in post from Lloyds but was afraid to make any claim whilst in a DMP with them as I didn't want to 'rock the boat'

    Yes you can make a claim. I am in a dmp and have some Barclays debts which have been sold on. I successfully had the ppi refunded last week and received a number of cheques totalling £10000 :)
  • [Deleted User][Deleted User] Forumite
    0 Posts
    Eighth Anniversary 10,000 Posts Name Dropper Photogenic
    MoneySaving Newbie
    dazla wrote: »
    Yes you can make a claim. I am in a dmp and have some Barclays debts which have been sold on. I successfully had the ppi refunded last week and received a number of cheques totalling £10000 :)
    It's important to note that not everyone who has such unpaid debt will have the same experience as you did.
    The bank is entitled to offset any redress awarded against defaulted debt or interest written off as part of a debt management plan. See here;
    http://www.moneysavingexpert.com/banking/setting-off
  • dazladazla Forumite
    191 Posts
    It's important to note that not everyone who has such unpaid debt will have the same experience as you did.
    The bank is entitled to offset any redress awarded against defaulted debt or interest written off as part of a debt management plan. See here;
    http://www.moneysavingexpert.com/banking/setting-off


    Yes, but it is important to encourage people to make a claim and not let them think just because they are in a dmp the bank will offset any redress, its not a certainty by any means that the bank will offset
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