Capital one PPI

volvo240

Hi,
I have found out that I can claim against capital one for PPI, the issue I now have is they (capital one) are saying that as I owe them money (it's an old.debt, past six years) if I make a claim they will either want this money from the PPI to repay them or they might just take some of the money to go towards what I owe. As they are no longer appearing on my credit file, I am unsure of how much is owed.

So my questions are, can they claim this money for an old debt?
Is it worth bothering to claim as there appears to be money owed?

[Deleted User]

volvo240 wrote: »

can they claim this money for an old debt?

Yes, they have the right to offset any PPI redress against monies still owed (from the same finance) even if they are otherwise statute barred. Obviously, they can only offset against the amount you owe so any excess will still come to you.

volvo240

Thanks for the quick response.

I understand that it's hard to know how much they amount maybe, do you think it's worth claiming the PPI ?

[Deleted User]

volvo240 wrote: »

do you think it's worth claiming the PPI ?

Only you can decide that.

Do you think the amount you owe will exceed the redress?

Are you even certain that your complaint will be upheld? What complaint reasons for mis-sale do you have?

volvo240

Not sure if the amount owed will cover the redress.

Again not sure if the complaint will be upheld.

The PPI was mis-sold on the basis that it was sold without knowing about it.

[Deleted User]

volvo240 wrote: »

The PPI was mis-sold on the basis that it was sold without knowing about it.

That's probably the weakest complaint possible I'm afraid. You can provide absolutely no evidence that it was added without your knowledge and permission, while the Bank will point to signed documentation that you did know about it at the time. It's a myth, sponsored by claim companies, that PPI was routinely just added and you would basically be complaining that you didn't read or listen during the sale and signed up regardless.

Perhaps look for better reasons if you want to ensure (any) success?

As an aside, you do realise that the deadline for PPI complaints was last August? I understand that you started the ball rolling prior to that and so still have the right to complain, but you are certainly taking your time about it...

volvo240

Thanks for the response.

I do understand that it ended in August, but it's taken a long time for capital one to respond to the claim.

I think based on the information you have given, I need to think a bit more about the claim before going any further with it.

Thanks again.

brettcta

It doesn’t sound like you’ll be paying more on top of any potential redress they may keep so I’d crack on.

If you get nothing back, you’ve cleared a debt. If you get a cheque, then it’s win win.

Just tell us you didn’t use a CMC?

volvo240

Thanks for that. No didn't use a CMC