Help with ppi insurance

Angel1304

Hi,

I've today been offered a net offer for mis-sold ppi from a loan I had with natwest very quick took only 3 weeks
Now the loan is currently with a debt agency payments made every month on time does anyone know if I can get the money paid to me instead of off the remaining balance of the loan?

Any help would be greatly appreciated

amersall

It is up to Natwest how they will do this, if they want to take it from the debt they can or,they may give it to you.

Make sure that the whole PPI is taken off the loan balance too.
If you are in hardship and have priority bills that need to be paid then tell Natwest and ask if the payment can come to you.

[Deleted User]

The bank can off set the redress against the outstanding monies owed unless they've sold the debt on.
Don't be counting any chickens, but worst case scenario is that your existing debt is reduced.

dunstonh

Now the loan is currently with a debt agency payments made every month on time does anyone know if I can get the money paid to me instead of off the remaining balance of the loan?

Unless the bank have sold the debt with no ability to claw it back then the redress goes against the debt. You may get the interest element though.