Capital One Kept Money Back From PPI Refund

Ingledene

Hi there,

Hoping you might be able to help explain something for me please. I successfully claimed back some PPI money a few years ago and thought that I would try again following the supreme court ruling. I sent through my application to Capital One and got a letter back stating that they could confirm a redress payment of £446.60. The letter then goes on to say that they would be taking £206.71 to apply to the closed account "in reduction of any over limit amount or defaulted balance on the account". I have now received a check for £260.80. When I claimed back my original PPI money a few years ago, I can't remember them taking money off to apply to the account. Are they allowed to do this, or should I refer it to the FSA?

Thanks for your help

-taff

Yes they are allowed to do that.

dunstonh

Where there is a debt in arrears, default or had amounts written off, they can use the money against the debt.

Both logical and sensible as it would not make any sense to refund something you havent paid

Browntoa

Yes , it's called offsetting

Ingledene

Why didn't they take any money off when I made my initial claim 4 years ago?

-taff

Some companies have more rigorous checks in place to see what's owed than others.

If you are saying that Capital One gave you redress a few years ago, didn't take it off, and now have given you more monwy under Plevin, I'd be waiting for the letter saying oops, we made a mistake.