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ppi refund and DMP

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I have made a ppi claim, which has been upheld,the letter said that if i still had an account which was open they (Barclaycard would pay the amount onto my card account, I have got an account although it is included in my DMP, I telephoned them because the payment has not shown on my account, and they said that they would be sending me a cheque not crediting it to my card account, My question id when I receive this cheque if I then pay it off my account would this be seen as preferential treatment to barclaycard over my other accounts, and would I be able to make a full and final settlement offer to them even though they haven't defaulted my account, sorry my post haas gone on a bit Many thanks
20p savers club 2013#23 83.00 (2014 numer 6,70.00 pounds) 2036SPC No 6(2013) 182.34
2.00 savers club no 159
SPC No 7 2036(2014) 369.[2[ SPC No 8 197.45 (no 114)

Comments

  • Sazzie23
    Sazzie23 Posts: 2,634 Forumite
    Ninth Anniversary 1,000 Posts Combo Breaker Post of the Month
    3431Anna wrote: »
    I have made a ppi claim, which has been upheld,the letter said that if i still had an account which was open they (Barclaycard would pay the amount onto my card account, I have got an account although it is included in my DMP, I telephoned them because the payment has not shown on my account, and they said that they would be sending me a cheque not crediting it to my card account, My question id when I receive this cheque if I then pay it off my account would this be seen as preferential treatment to barclaycard over my other accounts, and would I be able to make a full and final settlement offer to them even though they haven't defaulted my account, sorry my post haas gone on a bit Many thanks


    Hi Anna

    Well done for doing a successful PPI reclaim. My situation was similar but differed slightly. I had a ppi reclaim which was on a joint account and they insisted it was paid back into a joint account, so our joint overdraft, which was included inn my DMP was paid off. This did not create any problems with creditors - the payments to them increased because I wasn't paying the overdraft. Stepchange queried it but were fine when I explained.

    I'm not sure about your F&F if no default issued but its always worth a try ??
    Debt -it's a fight that I'm winning, dealing with debt one day at a time.
    Estimated DFD August 2018 - 2031 - now 2027 :T

    Guide dog Tess, missing Scotland 2 years

    DMP support no438.
  • Hi Anna

    I can see you have a fairly long DMP, as do I. Why don't you hang on to the money for now as an emergency fund.

    ST
    LBM August 2011. DFD somewhere post [STRIKE]2025[/STRIKE]2022 :eek:
    Total debts October 2011 circa GBP 17,700 September 2018 GBP 0 DMP with Payplan
    What doesn't kill you makes you stronger:T:D:D:D
  • FireWyrm
    FireWyrm Posts: 6,557 Forumite
    Part of the Furniture Combo Breaker Debt-free and Proud!
    I wouldnt put your money anywhere near Barclays if I were you. They have a nasty habit of a) cancelling any DMP agreement on the basis that you have lots of money and b) appropriating it for themselves under 'offset'.

    I would open a completely clean basic account with someone else and pay the cheque in there instead and leave it as an emergency fund. Make the account reasonably difficult to get into and just let your money sit until you have a very good reason to use it.
    Debt Free! Long road, but we did it
    Meet my best friend : YNAB (you need a budget)
    My other best friend is a filofax.
    Do or do not, there is no try....Yoda.

    [/COLOR]
  • 3431Anna
    3431Anna Posts: 363 Forumite
    Part of the Furniture Combo Breaker
    FireWyrm wrote: »
    I wouldnt put your money anywhere near Barclays if I were you. They have a nasty habit of a) cancelling any DMP agreement on the basis that you have lots of money and b) appropriating it for themselves under 'offset'.

    I would open a completely clean basic account with someone else and pay the cheque in there instead and leave it as an emergency fund. Make the account reasonably difficult to get into and just let your money sit until you have a very good reason to use it.
    Thanks for your reply.
    I have a different account not with barclays, its just that the amount i am 'supposed' to be having from them would clear my card account with them and still i would have some left over but I am concerned that my other creditors wouldn't be very pleased and would see it as preferential treatment to barclaycard ( I say supposed because I haven't actually got the cheque yet so don't want to count my chickens lol ):)
    20p savers club 2013#23 83.00 (2014 numer 6,70.00 pounds) 2036SPC No 6(2013) 182.34
    2.00 savers club no 159
    SPC No 7 2036(2014) 369.[2[ SPC No 8 197.45 (no 114)
  • 3431Anna
    3431Anna Posts: 363 Forumite
    Part of the Furniture Combo Breaker
    Hi Anna

    I can see you have a fairly long DMP, as do I. Why don't you hang on to the money for now as an emergency fund.

    ST
    It is a long plan, and i can see it may be better to use this as an emergency fund, but I would really like to get rid of some of my debts early if I can, because it just seems never ending
    20p savers club 2013#23 83.00 (2014 numer 6,70.00 pounds) 2036SPC No 6(2013) 182.34
    2.00 savers club no 159
    SPC No 7 2036(2014) 369.[2[ SPC No 8 197.45 (no 114)
  • National_Debtline
    National_Debtline Posts: 7,998 Organisation Representative
    Tenth Anniversary 1,000 Posts Combo Breaker
    Hello there,

    You *could* choose to use the refund money to offer a full & final settlement. It doesn't matter that the account hasn't been defaulted although it is ultimately the creditor's decision whether or not to accept your settlement.

    We have a useful fact sheet on full & final settlements, should you choose to look into making an offer this fact sheet outlines the process in detail.

    Very best wishes,

    David @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
  • 3431Anna wrote: »
    It is a long plan, and i can see it may be better to use this as an emergency fund, but I would really like to get rid of some of my debts early if I can, because it just seems never ending

    Yes I know what you mean Anna as i am in a similarly long plan myself. One of the regular posters, however, suggested looking on it as a very cheap loan and not to be in such a rush to pay it off - with the exception of for credit referencing purposes. This has certainly changed my mind set towards it.

    As David suggests above, you could use it for full and finals or even save it for now until you have a larger pot with which to bargain for full and finals. That is something I am certainly considering for the future. Barclays i will have to pay in full as they have never defaulted me and are holding me to ransom with AP markers, as are Moorcroft, the others however have defaulted me so full and finals is it for them:T

    Regards
    ST
    LBM August 2011. DFD somewhere post [STRIKE]2025[/STRIKE]2022 :eek:
    Total debts October 2011 circa GBP 17,700 September 2018 GBP 0 DMP with Payplan
    What doesn't kill you makes you stronger:T:D:D:D
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