ppi can the bank keep payout

Amcbc

New to this hope someone can help

I had 10 claims of ppi with rbs won 7 which is good news down side I owe rbs money for a loan which is now with debt company but have found out the loan I owe money to that claim was refused as no ppi can rbs keep the money from the other claims to pay this debt off

Hope someone can help please

BillJones

In general, yes they can offset this against your debt.

amersall

Some don't, you will have to wait and see.

dunstonh

The normal outcome is that they can and will keep money where the debt the PPI is related to was not paid in full (or is no longer on track with the original payment method - i.e. in arrears/defaulted/had amounts written off). If you have other debts with the same bank that are not related to the PPI, then they will not set off the PPI redress payment against the debt. it should come to you. A chain of loans would be a relationship (i.e. one loan paid off by taking out another is a link).

Amcbc

Thanks

I don't have any ppi claim on the debt that's outstanding it's other ppi claims that have no link to the debt I was wondering if they can keep that money

Mallotum_X

Sounds like a good idea if they do keep it, help you reduce your debts

[Deleted User]

Amcbc wrote: »

I don't have any ppi claim on the debt that's outstanding it's other ppi claims that have no link to the debt I was wondering if they can keep that money

They link to your debt in that they are with the same bank. You'll have to wait and see whether the Bank chooses to offset.

Read here about the right to off set;
http://www.moneysavingexpert.com/banking/setting-off