We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 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 off set?
whatshappening03
Posts: 6 Forumite
Hi,
After my claim was upheld by ombudsman, Capital one wrote to me and sent me a cheque. However, the cheque was spelt incorrectly so I phoned and asked for it to be re-issued. They have now credited my account with the money instead. I understand that they can off set it but the total ppi payout was more than I owed on my cc. They also failed to speak to me about it. Is this legal?
After my claim was upheld by ombudsman, Capital one wrote to me and sent me a cheque. However, the cheque was spelt incorrectly so I phoned and asked for it to be re-issued. They have now credited my account with the money instead. I understand that they can off set it but the total ppi payout was more than I owed on my cc. They also failed to speak to me about it. Is this legal?
0
Comments
-
Is this legal?
In this country, things are legal unless there is a law saying otherwise. There are no laws specific to PPI.
Sometimes they recredit the account and then draw it again a few days later. That helps for interest deductions. How long has it been since they credited it to the account?
Can you just not draw the excess balance?
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
It was credited on 16th July.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.4K Banking & Borrowing
- 253.3K Reduce Debt & Boost Income
- 453.8K Spending & Discounts
- 244.4K Work, Benefits & Business
- 599.7K Mortgages, Homes & Bills
- 177.2K Life & Family
- 258K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards