Reclaim PPI after a DRO

Paper_&_Metal

Hi

Hopefully I can get advice and assistance please?

I had a DRO several years ago and it has cleared all the debts I had on several credit cards (none of which I used to splash out on lavish things they were to pay site fees and other related supply bills when I had to live in a static caravan because we were evicted) and is cleared itself so all done and dusted.

I am aware the PPI reclaiming deadline is fast approaching and I need to know if I am entitled to reclaim the PPI I was mis sold? Most of the companies that offer assistance to do this cannot tell me or say no, one even suggested I could but any money I got would go towards repaying the debt and I would be responsible for that debt once again.

In my view though there are no debts they were wiped and I served the 12 months plus the 6 or so years and they no longer appear on my credit file.

I also believe the PPI had nothing to do with the debt itself being a stand alone 'product' added as an extra so I should be entitled to reclaim the PPI ??

Can anyone tell me where I go from here?

Thanks.

[Deleted User]

Paper_&_Metal wrote: »

In my view though there are no debts they were wiped

You need to understand that your debt still exists, you just won't ever be chased for it.

However, it works both ways.

If you make a PPI complaint any redress can and will be offset against amounts written off as part of your DRO.

You need to contact your DRO provider and only if they declare "no interest" should you proceed.

Nasqueron

You also need to understand you are not reclaiming and you were not miss-sold (principle of innocent until proven guilty)



What you need to do, if you can proceed, is make a complaint and show how and why you were miss-sold and give your evidence to prove it was.

Paper_&_Metal

Thank you.

I did the DRO with the advice and assistance of National Debt Line.

I believe it was mis sold as there was no mention of it when I took on the Credit Cards and I doubt I was covered as I was not in work due to a degenerative disability so I was claiming benefit.

I was trying to make a complaint via a PPI reclaim service but as I say they are reluctant to help and I am finding it difficult to do it by myself as all the accounts went to creditors and kept being passed onto different companies.

-taff

You send a complaint to the original company that you had the credit with, go to their websites, complain directly through them, adding your complaint reasons of not covered due to medical issues, being out of work.


If you used finance companies , not banks, they will not have been regulated prior to 2005.
You will not restart the clock on debts. They can use any redress to offset the debt.

Nasqueron

Paper_&_Metal wrote: »

I believe it was mis sold as there was no mention of it when I took on the Credit Cards

There was, you just don't remember it. You have to agree to take it out e.g. sold over the phone or a tick box on a form. In addition, it's listed on every card statement you get where you paid it.

Paper_&_Metal wrote: »

and I doubt I was covered as I was not in work due to a degenerative disability so I was claiming benefit.

That should work as a miss-selling reason as you were not employed so it wouldn't cover you

Paper_&_Metal wrote: »

I was trying to make a complaint via a PPI reclaim service but as I say they are reluctant to help and I am finding it difficult to do it by myself as all the accounts went to creditors and kept being passed onto different companies.

Then it's to their credit as a CMC that they are finally understanding they cannot take on cases like this because the money will likely be offset against your unpaid debts and you'd still have to pay them their share even though you get nothing.

As advice above, speak to the DRO people, you may not be entitled to complain and/or you may be allowed to but on the understanding the money is paid to your creditors.

[Deleted User]

Nasqueron wrote: »

Then it's to their credit as a CMC that they are finally understanding they cannot take on cases like this because the money will likely be offset against your unpaid debts and you'd still have to pay them their share even though you get nothing.

This has long been the rule, but it's only this year that proper regulation of Claims Management Companies has come into force, remember.

Nasqueron wrote: »

As advice above, speak to the DRO people, you may not be entitled to complain and/or you may be allowed to but on the understanding the money is paid to your creditors.

The OP doesn't appear to have read my earlier post (or has ignored it).

Paper_&_Metal

Thank you all for the comments so far, I am reading them!

I am just in disbelief that I am not able to claim, yet my husband who still repays a debt collection agency and agreed minimum amount per month gets his PPI money back in full. Frustrating but hey ho!

Nasqueron

Paper_&_Metal wrote: »

Thank you all for the comments so far, I am reading them!

I am just in disbelief that I am not able to claim, yet my husband who still repays a debt collection agency and agreed minimum amount per month gets his PPI money back in full. Frustrating but hey ho!

If the bank had sold on the debt with no clawback rights then they can't offset it. Though your husband, I assume, has used the money to reduce his debt and repay his creditors. You are in a DRO, you can still ask if you are allowed to complain, you may well be, it may go to your debtors of course but then you can be happy knowing you reduced your debt

sourcrates

Moneyineptitude wrote: »

You need to understand that your debt still exists, you just won't ever be chased for it.

However, it works both ways.

If you make a PPI complaint any redress can and will be offset against amounts written off as part of your DRO.

You need to contact your DRO provider and only if they declare "no interest" should you proceed.

Insolvency Act 1986

251I Discharge from qualifying debts Debt Releif Order

(1) Subject as follows, at the end of the moratorium applicable to a debt relief order the debtor is discharged from all the qualifying debts specified in the order (including all interest, penalties and other sums which may have become payable in relation to those debts since the application date).




Yes, you can claim PPI after your DRO has ended. This is because assets do not vest in the trustee, unlike bankruptcy. None of the monies you gain would go to the insolvency service or your creditors.

You cannot off-set money against a written off debt in insolvency.


Once the DRO monotorium period of 12 months has been served, the DRO will have successfully completed, the debts are written off, they no longer exist, and the debtor is released from any and all liability.

This means the OP is free to pursue any and all claims for mis-sold PPI, and they should do so as a matter of urgency, as the deadline for claims is fast approaching.


PPI was mis-sold to many millions of people on a massive scale, the banks openly lied about the nessessity to have it, or they just added it anyway without the borrowers knowledge, fraud is what i call it, but banks been banks, just threw money at the problem, so as to avoid there management teams going to prison, who says money does not talk.


Your complaint is with the original seller of the financial product, not the DCA who may now own or manage the debt/debts.

Nasqueron

sourcrates wrote: »

Insolvency Act 1986

251I Discharge from qualifying debts Debt Releif Order

(1) Subject as follows, at the end of the moratorium applicable to a debt relief order the debtor is discharged from all the qualifying debts specified in the order (including all interest, penalties and other sums which may have become payable in relation to those debts since the application date).




Yes, you can claim PPI after your DRO has ended. This is because assets do not vest in the trustee, unlike bankruptcy. None of the monies you gain would go to the insolvency service or your creditors

You cannot off-set money against a written off debt in insolvency.

I'd be surprised if the bank did not offset money against their unpaid debts

sourcrates wrote: »

Once the DRO monotorium period of 12 months has been served, the DRO will have successfully completed, the debts are written off, they no longer exist, and the debtor is released from any and all liability.

The debts still exist on the bank's books as they have not been paid. They agree not to chase yes but doesn't mean they don't absorb it

sourcrates wrote: »

PPI was mis-sold to many millions of people on a massive scale, the banks openly lied about the nessessity to have it, or they just added it anyway without the borrowers knowledge, fraud is what i call it, but banks been banks, just threw money at the problem, so as to avoid there management teams going to prison, who says money does not talk.

This is claims company level of nonsense. Millions willingly took it out and pretended they were misled. There was a stat from the FOS fairly recently where something like 50% of the PPI complaints they get are from people who DID NOT HAVE IT and are still trying to put in complaints - that is fraud

Adding without knowledge is complete balderdash, you literally cannot do this, it has to be listed on the credit agreement that the consumer signs; PPI on a credit card is listed on every single statement where it's paid. How do you expect the banks to get away with adding it without knowledge when the first card statement they get lists it as a charge? That would take days to uncover.