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PPI win, but debt owed Question
gman41
Posts: 44 Forumite
Hi,
Quick question, I have been told I was mis sold PPI, and told that £600 is to be returned, BUT they have stated there is an amount still outstanding, they have not given me any numbers!
PPI breakdown PPI=£400
Interest £200 @8%
Do they give me back the Interest or does ALL the above go back in to the account?
?
Quick question, I have been told I was mis sold PPI, and told that £600 is to be returned, BUT they have stated there is an amount still outstanding, they have not given me any numbers!
PPI breakdown PPI=£400
Interest £200 @8%
Do they give me back the Interest or does ALL the above go back in to the account?
?
0
Comments
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If there is a debt and its being paid as per agreement, then you will get it all. If the debt is in arrears, defaulted or had amounts written off as part of a settlement then they can use the refund part of the redress against that debt (the £400 in your case).I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Thanks very much for the reply!
So the Interest is given back even if the £400 wont clear the debt?0 -
Yes. you receive the interest.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Thanks so much for your reply!0
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Over 35 days now...had a letter from RBS ppi department. ..saying that the PPI will be sent to the debt department to pay the balance...and anything owing will be sent by cheque. ...within 28 days...nothing ....not even a letter from RBS saying anything!
....what to do next????0 -
Ring up and complain
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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....Just an update,
I have complained to RBS asking for the Interest of the PPI to be returned, although the complaint was not responded to, the PPI team have sent 'another' letter telling me that all of the £600 has been given to the account, NO Payment even the Interest will be given to me.
So...Would the financial ombudsman be worth complaing to, or would they agree with RBS?0 -
any help?
:(:(:(:( 0 -
They are correct to apply it to the amount you owe. Some feel the interest should be given to you but this can be applied to the debt too. FOS wont change anything.0
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if you were "in hiding" , ie awaiting for 6 yrs to tick away , this payment will restart the clockSave a Rachael
buy a share in crapita0
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