Halifax offer confusion

dbsfc

Hello all
Some help would be massively appreciated. I have been offered £2850 from Halifax from PPI relating to a credit card. This is following an initial rejection and then Ombudsman involvement.

The card had a £1250 limit. When I applied for a refund it was close to the limit and during the two years since the initial appeal various charges have been added taking the demand from Halifax to around £1400. The account was closed and legal action pending.

Does the offer take into account this amount supposedly owed or not? Seems ambiguous. Either way it is an unexpected return. If I do owe them some money id rather just pay it off straight away rather than think I have mo're than I do.

Any ideas? Would prefer some opinions before asking them.

Thanks

-taff

If you still owe them money they will take it out of the redress first.

dbsfc

Well I thought that. It's just not mentioned at all. Very clearly says the money coming is stated figure. sold the debt on perhaps or do we think they would retain the power to cover that amount

welshgasman

I'd expect you to get the full amount.
Please post back if you do not, just for my curiousity.

There should be a paragraph in the FRL that says 'If you want to reduce your debt...', but this would not probably apply in your case as you state the a/c is closed.

dbsfc

I'm sure I will receive the full amount. The letter is clear, need to find out if money is still owed on the defaulted account. will ask Halifax

Nasqueron

dbsfc wrote: »

I'm sure I will receive the full amount. The letter is clear, need to find out if money is still owed on the defaulted account. will ask Halifax

Unpaid debts are ALWAYS owed to the extent of allowing offsetting even if the company agrees to not chase them or they become statute barred (6 years after the last payment or acknowledgement of the debt) unless they have sold the debt on with no option to call it back.

If the debt is sold on Halifax would pay you in full and then it is up to you to pay off the creditors / debt agency if debt is still valid

dbsfc

Thank you. I think I will need to chase the debt to clear it. just don't understand why they would make no reference to it

welshgasman

Probably because the person working your case only looks at the PPI aspect.

dbsfc

Long time later but yes: got the full amount from Halifax and then paid off the money owed separately