Sold debt court case / PPI claim - Please help!

DevCoder

But as I understand it your friend hasn't even put a complaint in regarding the PPI?

Even if he does, the debt and the ppi complaint are two separate issues (see Buzby's point above)

marcanar

Hi krisdorey - that's correct, I believe he didn't yet file with the bank because he wanted to ask the judge to join them in the case as a third party, as his contract was with them and not the debt company (and, I suppose, once he filed it would immediately put him on the bank's timescale for these things).

But honestly, if the court now reserves judgement until the PPI claim has been assessed by the bank, that is also a better outcome than an immediate CCJ, whilst we deal with his other financial affairs.

He does believe he was mis-sold PPI originally, and so makes the case that without PPI+interest the debt would not have grown to the size it did, resulting in default and him now being in litigation with the debt company. (It does appear that the PPI policy would not have covered him given his circumstances, so there is a case for missale by the bank).

-taff

You are not going to know whether he will win his PPI complaint unless he puts one in. The bank may reject his complaint and then you will go to the FOS which will take up to 2 years.

I doubt any judge will say yes. we'll reserve judgement for 2 years whilst someone decides wehther or not he was missold which is the worst case scenario. Then the ultimate worse case scenario is that his PPI is found to be not missold.


Give up the idea that 8% interest would make any difference for now because it is ONLY paid if the account would have been in credit. If he was always up to the limit, it never would have been.

meer53

The PPI would not cause your friend to default on their agreement. What you need to realise is that anyone looking at this case will say that if your friend was in financial difficulty, they should have stopped spending on the card and sought help from MBNA. They could have cancelled the PPI at any stage, why carry on paying something you can't afford ?

Your friend can believe whatever they like, i'm not legally trained, but even i can see that your case at the moment doesn't stand a chance. Don't bank on a PPI claim taking a long time, some can be completed in a matter of weeks, especially if it's a no refund. My refund was paid within 4 weeks of my claim being submitted.

meer53

-taff wrote: »

You are not going to know whether he will win his PPI complaint unless he puts one in. The bank may reject his complaint and then you will go to the FOS which will take up to 2 years.

I doubt any judge will say yes. we'll reserve judgement for 2 years whilst someone decides wehther or not he was missold which is the worst case scenario. Then the ultimate worse case scenario is that his PPI is found to be not missold.


Give up the idea that 8% interest would make any difference for now because it is ONLY paid if the account would have been in credit. If he was always up to the limit, it never would have been.

Don't you mean in debit ? PPI wouldn't have been charged if there was no balance on the card, only if there was an outstanding balance. If it was always up to the limit, it would have been charged every month. The 8% is the interest on the refund given.

-taff

meer53 wrote: »

Don't you mean in debit ? PPI wouldn't have been charged if there was no balance on the card, only if there was an outstanding balance. If it was always up to the limit, it would have been charged every month. The 8% is the interest on the refund given.

No, I mean in credit.

The 8% interest is only paid on credit cards if the account would have been in credit if not for the PPI payments.

[Deleted User]

meer53 wrote: »

Don't you mean in debit ? PPI wouldn't have been charged if there was no balance on the card, only if there was an outstanding balance. If it was always up to the limit, it would have been charged every month. The 8% is the interest on the refund given.

-taff wrote: »

No, I mean in credit.

The 8% interest is only paid on credit cards if the account would have been in credit if not for the PPI payments.

This will be very confusing for the OP who needs to forget about the 8% interest unless his friend is actually making a PPI complaint.

To be honest, the Op needs to separate the potential PPI complaint and the impending county court judgement completely. His friend can't use mis-sold PPI as a defence in this instance.

brown1950

Moneyineptitude wrote: »

This will be very confusing for the OP who needs to forget about the 8% interest unless his friend is actually making a PPI complaint.

To be honest, the Op needs to separate the potential PPI complaint and the impending county court judgement completely. His friend can't use mis-sold PPI as a defence in this instance.

I would agree unless the Credit Card Company have upheld the miss selling of PPI then no point in using this as a defence/counterclaim.

My advice would be to concentrate on the late payment/over credit limit fee's as a defence/counterclaim. Have you worked out how much these fee's are ?

magpiecottage

brown1950 wrote: »

My advice would be to concentrate on the late payment/over credit limit fee's as a defence/counterclaim.

Since the banks won in court over this, unless they were excessive it is unlikely to help.

brown1950

magpiecottage wrote: »

Since the banks won in court over this, unless they were excessive it is unlikely to help.

Credit card charges were not part of the Supreme Court Bank case !