PRA Group

jbaron1984

Hi
We received a 'statement of account' from PRA group saying that we owed them £7000. When we questioned this with them they said the debt was from a carloan from 1997. They advised this would no longer be chased due to the age of the debt.

my question is...would this be worth persuing as a potential PPI claim? We have all the details now that PRA kindly contacted us but not sure if this would open up a can of worms or whether there maybe something in this for us?

Any advice greatly appreciated

Thanks

[Deleted User]

There will be nothing in it for you, but if they agree you were mis sold PPI, they will take it off the amount you owe.

dunstonh

A statute barred debt does not mean you do not still owe the money. It means they cant come after you via the courts to get it. However, they are allowed to use PPI redress against it. So, yes, you can complain but if your complaint is successful, they are not required to pay the money to you (unless the redress is greater than the debt outstanding).

jbaron1984

Sorry to ask but what is 'redress'?
Does that mean if the money we win on PPI is more than the debt, they will take the £7000 and leave us the rest?

jbaron1984

dunstonh wrote: »

A statute barred debt does not mean you do not still owe the money. It means they cant come after you via the courts to get it. However, they are allowed to use PPI redress against it. So, yes, you can complain but if your complaint is successful, they are not required to pay the money to you (unless the redress is greater than the debt outstanding).

Sorry to ask but what is 'redress'?
Does that mean if the money we win on PPI is more than the debt, they will take the £7000 and leave us the rest?

[Deleted User]

jbaron1984 wrote: »

Sorry to ask but what is 'redress'?

The PPI refund plus interest is referred to as "redress".

jbaron1984 wrote: »

Does that mean if the money we win on PPI is more than the debt, they will take the £7000 and leave us the rest?

Basically, anything you "win" will be offset against monies still outstanding.

Why are you expecting the PPI redress to be more than £7000?

You should realise an amount more than £7,000 may be offset if it also includes interest written off as part of your original default.

You should also realise that car dealers were not regulated in 1997 and that PRA Group can reject any PPI complaint on that basis alone.

What complaint reasons are you going to give? Do you know for sure that you even had PPI?