We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
PPI after a DRO
Emz18
Posts: 2 Newbie
Hi. I have made a claim for PPI and it says I've been successful but the money has to go to pay my debt with Capital One, however this debt was part of my successful DRO which ended in October 2014. Can anyone help please x
0
Comments
-
If the Capital One debt is not fully satisfied, then yes, the redress needs to go to them.0
-
Things like DRO, IVA etc mean the lenders accept you will not pay back everything you owe and agree not to chase, doesn't mean you don't owe the money. It's logical, and indeed correct, for them to offset money against your debts rather than giving it to you on top of the money you didn't pay back.
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
0 -
You need to understand that, while Debt Management measures relieved you of the burden of debt, technically you still owe this money. Your lenders will never ask that you repay the debt, but they can certainly offset any PPI refund.this debt was part of my successful DRO which ended in October 2014. Can anyone help please x
Basically, you have requested that they repay you money you never paid in the first place.
Sorry.0 -
Ok, thanks guys xx0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards