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Halifax can they offset debt ?
pearls_of_wisdom
Posts: 161 Forumite
Hi,
Does anyone have first hand experience of having historic debts with Halifax and yet still receiving a ppi refund ?
One claim provider who keep calling me have insisted (ASKED 3 TIMES) that the Halifax will not retain monies but I'm now suspicious that they're misleading me in an attempt to simply proceed with claims as they would still be due fees,irrespective of monies being offset.
FWIW I have 3 potential claims against Halifax stretching back 10/12 years,and don't mind admitting looking at the question template there's an awful lot of questions I will struggle to answer, any help appreciated many thanks
Does anyone have first hand experience of having historic debts with Halifax and yet still receiving a ppi refund ?
One claim provider who keep calling me have insisted (ASKED 3 TIMES) that the Halifax will not retain monies but I'm now suspicious that they're misleading me in an attempt to simply proceed with claims as they would still be due fees,irrespective of monies being offset.
FWIW I have 3 potential claims against Halifax stretching back 10/12 years,and don't mind admitting looking at the question template there's an awful lot of questions I will struggle to answer, any help appreciated many thanks
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Comments
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One claim provider who keep calling me have insisted (ASKED 3 TIMES) that the Halifax will not retain monies but I'm now suspicious that they're misleading me in an attempt to simply proceed with claims as they would still be due fees,irrespective of monies being offset.
What they are saying is a breach of ministry of justice guidelines. CMCs are required to let you know in advance if it is unlikely that the payment will be "cash in hand" and tell you that you should not use them. However, in reality, because they use low knowledge, unqualified, commission paid staff to generate business, you get a lot of lies told on these calls. Somewhat ironic when you think that they are accusing the banks of doing the same thing in the sale of PPI.
If the PPI is in relation to a debt of chain of debts (loan replaced with a new loan) and that loan defaulted or involved a settlement of a reduced amount, then the lender can use the capital element of the PPI redress to offset the amount written off or defaulted on.
If there are no arrears, defaults, amounts written off then the bank cannot use it against the debt but return it to you as "cash in hand".I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
many thanks as you say the irony of the ppi claimer now trying to cheat me0
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If you have a complaint then make it yourself. Even if you were to receive "cash-in-hand", you would still pay a large proportion of any such redress to the claims handler...pearls_of_wisdom wrote: »many thanks as you say the irony of the ppi claimer now trying to cheat me0
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