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RBS Lombard Idem
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Scottishmummy
Posts: 1,176 Forumite
We are currently on a DMP and will be for a good few years. We have successfully made a few PPI reclaims and are holding the money until we have sufficient to make F&F's to all our creditors.
I received a letter to say that a complaint re a Lombard loan has been upheld and we can expect over £2000 back. However having reread it, it states that we will only receive anything back after they have repaid any money we are behind on. So basically we will not receive a penny. This is RBS but the debt is now with Idem.
Can they do this even though this money should never have been paid to them in the first place? My understanding is while on a DMP all lump sums received should be split equally between all of our creditors.
I received a letter to say that a complaint re a Lombard loan has been upheld and we can expect over £2000 back. However having reread it, it states that we will only receive anything back after they have repaid any money we are behind on. So basically we will not receive a penny. This is RBS but the debt is now with Idem.
Can they do this even though this money should never have been paid to them in the first place? My understanding is while on a DMP all lump sums received should be split equally between all of our creditors.
The person who moves a mountain begins by carrying small stones.
Diet loss starting Sept 2019 0/80lbs:eek::o
Proud to be No. 47 of the DMP mutual support club
DFW Nerd #380. Proud to be dealing with my debt
Diet loss starting Sept 2019 0/80lbs:eek::o
Proud to be No. 47 of the DMP mutual support club
DFW Nerd #380. Proud to be dealing with my debt
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Comments
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This is called off setting and is perfectly legal. You've obviously been lucky with your earlier PPI complaints that this didn't also happen with them.
It doesn't matter about your DMP, only redress you actually receive should be split between all your creditors..0 -
Fair enough. I obviously have been lucky. Just a shame as that is my biggest debt so the refund will be swallowed up and make very little difference to our end date.The person who moves a mountain begins by carrying small stones.
Diet loss starting Sept 2019 0/80lbs:eek::o
Proud to be No. 47 of the DMP mutual support club
DFW Nerd #380. Proud to be dealing with my debt0 -
Just wanted to update this. Cheque turned up in the mail yesterday so that has been added to the F&F pot. Much happier having it here than having it taken off the balance,The person who moves a mountain begins by carrying small stones.
Diet loss starting Sept 2019 0/80lbs:eek::o
Proud to be No. 47 of the DMP mutual support club
DFW Nerd #380. Proud to be dealing with my debt0 -
So are you saying the original statement of intent by the bank was incorrect? Did the Bank explain why?Scottishmummy wrote: »Much happier having it here than having it taken off the balance,0 -
No, no explanation. As far as I know Lombard were always part of RBS so it's not like it was because they were not the original lender.The person who moves a mountain begins by carrying small stones.
Diet loss starting Sept 2019 0/80lbs:eek::o
Proud to be No. 47 of the DMP mutual support club
DFW Nerd #380. Proud to be dealing with my debt0 -
can i ask what a DMP is?0
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