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Debt management and ppi
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Pedngirl
Posts: 1 Newbie
I was in debt a number of years ago and entered into a debt management plan. I cleared all my debt over five years ago. I have now put in for claims on PPI as I believe I was mid -sold. Capital one have sent me a final descision staying that they cannot uphold my claim but there is a balance £122.00 to redress. They have said that they are sending a cheque to the insolvency partners, is this right? Even though I have discharged all of my debt?
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That is correct yes... the practitioner will allocate the funds accordingly.0
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Plevin payment by sounds of it. Yes if you didn't pay back what you borrowed ( e.g. reduced settlement, interest freeze etc) then they can offset the refund against the unpaid sum. If the insolvency practitioner pays off all your debt they should send you any excess
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.
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