PPI win, but debt owed Question

brown1950

pappa_golf wrote: »

if you were "in hiding" , ie awaiting for 6 yrs to tick away , this payment will restart the clock

I think you will find your statement is incorrect.

PPI refunds do not start the limitations clock.

pappa_golf

if they are used to make a repayment (as in this case) , then a payment has been made by or in the name of

brown1950

pappa_golf wrote: »

if they are used to make a repayment (as in this case) , then a payment has been made by or in the name of

Still wrong ! Any repayment/refund or whatever you want to call it does NOT start
the Limitations clock.

A simple contract debt will normally be statute-barred if:

the creditor has not already obtained a county court judgment (CCJ) against you; and
you or anyone else owing the money (if your debt is in joint names) have not made a payment towards the debt during the last six years; and
you have not written to the creditor admitting you owe the debt during the last six years.

pappa_golf

brown1950 wrote: »

Still wrong ! Any repayment/refund or whatever you want to call it does NOT start
the Limitations clock.

A simple contract debt will normally be statute-barred if:

the creditor has not already obtained a county court judgment (CCJ) against you; and
you or anyone else owing the money (if your debt is in joint names) have not made a payment towards the debt during the last six years; and
you have not written to the creditor admitting you owe the debt during the last six years.

that is the point , the refund has been used as a payment on the account , the refunds department have handed it over with (or without) your permission , and the money is yours

brown1950

pappa_golf wrote: »

that is the point , the refund has been used as a payment on the account , the refunds department have handed it over with (or without) your permission , and the money is yours

The creditor making a refund of PPI redress does NOT start the limitation clock.
To start the limitation clock the payment must come from the debtor.

pappa_golf

post 6


"had a letter from RBS ppi department. ..saying that the PPI will be sent to the debt department to pay the balance"


the refund legaly belongs to the OP (as per government rules) , however "will be sent to the debt department to pay the balance"


so who owns the money that the dept. department are receiving ?


the government says the OP.

dunstonh

The capital part of the refund being set off against the debt has no timescale. It could have been statute barred but they are still allowed to set it off. The interest should come to you though.

There are no government rules on this.

tizzy79

Have you to get the interest? Just out of interest as having similar issue with RBS for my dad.