Payments on cards post successful PPI claim

Chinatree1969

Hi

I had a successful PPI claim a few years ago on an old credit card.. I wonder could someone let me know if I should still be paying monthly amounts of money on this (there was an outstanding balance)  I have emailed their customer service team but I can only give them the reference which shows on my bank statements.  May I add that the payments don't seem to have reduced any over the years.  I also have no way of looking at previous statements as they were never sent.

Appreciate any advice

Chinatree

born_again

Yes. A claim did not wipe out any balance. It was only the PPI mis-sold, not the credit card.
PPI claims did not go towards the balance. As you would have been aware they go to your bank account.
Have you moved and not informed them? Or are you on online only statements?

MinuteNoodles

If you're only making minimum payments that barely cover the interest then yes it won't go down. As above a PPI claim doesn't wipe out the balance owed, it just compensates you for the money you paid on the payment insurance which will have been sent as a payment to you rather than being applied to the outstanding balance.

In short you owe the money, you need to up your payments so you're actually paying a meaningful amount off the balance and not just barely covering the interest.

Chinatree1969

Thank you for your quick replies.  I have moved address but they do have my new one as I made the initial PPI claim from it.  They stopped sending statements a while ago and with me only having limited information about the cards (the 16 digit number), it wont let me register for online statements.  I don't use the cards anymore and haven't for a number of years but would just like to know what the outstanding balances are.  I have sent an email through to the customer services so will just wait to see what comes back.  Thanks again

born_again

Chinatree1969 said:

Thank you for your quick replies.  I have moved address but they do have my new one as I made the initial PPI claim from it.  They stopped sending statements a while ago and with me only having limited information about the cards (the 16 digit number), it wont let me register for online statements.  I don't use the cards anymore and haven't for a number of years but would just like to know what the outstanding balances are.  I have sent an email through to the customer services so will just wait to see what comes back.  Thanks again

Give them a call and get the address updated.