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reclaiming PPi where old debt with bank

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Advice/Opinions please
Is it worth trying to reclaim PPI if you have an old debt with that bank (i.e. old Credit card debt, defaulted, debt sold to debt collection company)?
Has anyone had any experience (or success) with this?
It has been suggested that the bank will just use any payment to pay off the old debt but the bank will probably have written this debt off long ago.

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