PPI Claim

scoops82

my GF needs to contact her debt provider but we are also looking at reclaiming some PPI through FSCS ( As welcome became bankrupt ) - should we refrain from mentioning this or is it in our interests too - would they look at it themselves an reduce the debt by the same amount?


Once we have a PPI figure and knocked off the O/S balance we will be looking at asking for a settlement figure.


Not sure on the best way to proceed.

jellie

What do you mean by 'debt provider'? Has your Welcome debt been sold to another company?

If it has and it can be bought back, once FSCS have completed your girlfriend's PPI complaint and they agree to compensate her, the balance will be reduced with whoever now holds the debt.

The debt company won't just reduce the balance themselves, if that's what you're asking. They didn't sell the PPI so they're not going to give the cost of it back.

Given that the Welcome / FSCS process is now well established, the debt company should already be aware there is the potential for a PPI refund.

scoops82

That's great, that's what I wanted to know.


We shall contact FSCS and see what happens!


I'm hoping it will knock a third off the debt - optimistic I know!


S