Debt completed in full can I claim PPI?

livyathan

Hi Guys,

Years ago I had a few problems and ended up going into debt quite badly. One of my debts, for a Credit Card, ended up going to a debt recovery company. I made an agreement to pay the debt in full, despite their numerous offers of having it reduced for a one-off payment (which I could have done but it wouldn't have been what I owed as far as I was concerned). I paid back exactly what I owed and received a letter to say it was complete.

In the past month, I've received correspondence about PPI, which I've largely ignored because I never instigated it and figured it was SPAM. Yesterday, I was sent a cheque for a large amount.

My question is, can I keep this?

The debt was cleared in full a few years ago.

Thanks,
Gaz

Insider101

livyathan wrote: »

Hi Guys,

Years ago I had a few problems and ended up going into debt quite badly. One of my debts, for a Credit Card, ended up going to a debt recovery company. I made an agreement to pay the debt in full, despite their numerous offers of having it reduced for a one-off payment (which I could have done but it wouldn't have been what I owed as far as I was concerned). I paid back exactly what I owed and received a letter to say it was complete.

In the past month, I've received correspondence about PPI, which I've largely ignored because I never instigated it and figured it was SPAM. Yesterday, I was sent a cheque for a large amount.

My question is, can I keep this?

The debt was cleared in full a few years ago.

Thanks,
Gaz

Was the correspondence from the same lender? What did it say?

If you have paid them off in full and if you haven't entered into an insolvency arrangement (e.g. bankruptcy or IVA) with any of your other debts then you are perfectly entitled to keep it.

livyathan

TBH Insider101, I haven't kept any of the letters as I thought they were all SPAM. The Credit Card Company was Monument but the letter containing the cheque has CCUKFinance stamped on it. I think I read somewhere that CCUKFinance had taken over Monument's accounts.

McKneff

So what did the letter say that came with the cheque....


But its sounding good for you....

livyathan

It's just a compliment slip, McKneff, nothing else.

Insider101

livyathan wrote: »

TBH Insider101, I haven't kept any of the letters as I thought they were all SPAM. The Credit Card Company was Monument but the letter containing the cheque has CCUKFinance stamped on it. I think I read somewhere that CCUKFinance had taken over Monument's accounts.

Yeah they are clearly connected as per the below:

https://www.mymonumentcard.co.uk/claim

Don't look a gift horse in the mouth ;-)

livyathan

Might have to give them a call next week I think. I need to be sure I'm not doing anything wrong by cashing the cheque.

Popeye1981

Hi people im new to this , it's my first post .
I need your help or advice please.
I was in an Iva with Grant Thornton that was completed and the certificate issued to me in September last year (2014)
I claimed the ppi during this time in which my back at the time (nationwide) offset the balance.
£1000 was also received by Grant Thornton.
I was told by GT that as a thank you I would be intitled to the 8% interest.
I never received this and when I asked both GT and Claims Broker they said the case was closed.
Today I have received a letter from GT saying that they now want to reclaim my ppi again as It may not of been fairly calculated??
Am I not intitled to anything even though I've completed my Iva ??? Why didn't I get the interest I was "entitled " to?

Any advice would be great.

James

Insider101

Popeye1981 wrote: »

Hi people im new to this , it's my first post .
I need your help or advice please.
I was in an Iva with Grant Thornton that was completed and the certificate issued to me in September last year (2014)
I claimed the ppi during this time in which my back at the time (nationwide) offset the balance.
£1000 was also received by Grant Thornton.
I was told by GT that as a thank you I would be intitled to the 8% interest.
I never received this and when I asked both GT and Claims Broker they said the case was closed.
Today I have received a letter from GT saying that they now want to reclaim my ppi again as It may not of been fairly calculated??
Am I not intitled to anything even though I've completed my Iva ??? Why didn't I get the interest I was "entitled " to?

Any advice would be great.

James

Hi James.

Unfortunately, if you're in an IVA they have the right to set off and any balance is due to the IP (I.e Grant Thornton). You're not entitled to the interest (the phrase "as a thank you" tells the story). They may have offered it to you as a gesture of goodwill. But if you want to know why they have not honoured the offer the only thing you can do is ask them.

As regards the calculation thing they are clutching at straws here. There have been some banks who have made mistakes with their calculations and had to go back and remediate them. However, neither CMCs nor IPs have the knowledge to do these calculations themselves so they won't know whether this applies to you. It just strikes me as a shot in the dark to be honest.

livyathan

Well I've tried contacting CCUK to no avail.

I've requested a call back from Slater & Gordon (Free Union provided advice) to see if they can advise.

If I hear nothing back by Thursday, I'm putting the cheque in the bank on Thursday.

Insider101

livyathan wrote: »

Well I've tried contacting CCUK to no avail.

I've requested a call back from Slater & Gordon (Free Union provided advice) to see if they can advise.

If I hear nothing back by Thursday, I'm putting the cheque in the bank on Thursday.

You might as well, just don't spend it! For now anyway.