Can I claim ppi when I paid half of full debt sum in full & final agreement in 2008?

Frenchie_123

Hi, I had two credit cards with different banks ( RBOS & Capital One ) both of which I defaulted on when I got into financial difficulties. In 2008 we reached agreements where I paid half the total debt as full and final payment and the accounts were closed. Can I now claim back ppi that I paid over several years? I was definitely miss sold the ppi as I was self employed and was told I wouldn't get the credit cards unless I took out the ppi.

The Capital One credit card I had I paid ppi on from 19/04/2004 until September 2005 when it appears they stopped taking ppi payments from me because I was in arrears.
In 2008 I still owed them £2656 and in our agreement we agreed that I could pay them £1328.17 as full and final payment and the account was closed.
I estimate that the ppi I paid from 2004 - 2005 amounts to £430

The RBOS credit card I had I paid ppi from Autumn 2003 until August 2006 totalling £1312
On 22nd Jan 2009 we reached an agreement that I would pay them £4900 of an outstanding debt of £7520 as full and final payment and that account was also closed..

The question I have is can I now claim back for all the ppi payments I made plus interest?

The full and final settlement I paid to Capital One directly
The full and final settlement for RBOS was paid to Green & Co debt collection company
Many thanks in advance for any help anyone can give me

magpiecottage

Let me get this straight.

You agreed to borrow money from Royal Bank of Scotland. You said that you would pay it back plus a certain amout of interest.

You failed to fully pay that back, leaving RBS £2,620 out of pocket. Yet you think that you should be paid £1,312 that you allege should not have been charged to you.

You also failed to fully pay back £2,656 you owed Capital One, leaving it £1,328 out iof pocket. Yet you think you should be paid back £430 you allege was incorrectly chared to you.

Given that both of your debts were forgiven, by your lenders, it seems somewhat churlish to demand reimbursement of smaller debts you say they owe you .

Even if you do prove those debts, you agreed that the payment you actually made was in full and final settlement - so you would need to explain why that should only apply when it is in your favour.

[Deleted User]

You can certainly complain about mis-sold PPI, however you are unlikely to benefit from such complaints unless the amount you failed to pay back is less than the amount of redress (should it be awarded).

In other words, if a potential complaint was successful, the Banks would deduct the amount you defaulted on from any refund of PPI.

Remember that you made a full and final agreement.

You cannot now go back and demand a refund of money you failed to pay in the first place!

dunstonh

Thankfully, the regulator has applied common sense to people with debts written off. Any redress can be offset against the debt that was written off as part of a settlement.