Claiming PPI on cards where debt was sold on

Deleted_User wrote: »

Any redress will be used to offset any unpaid amounts, before any surplus is returned to you.

It depends if the debt has been sold on with no ability to buy the debt back, all a bit complicated. It should by rights go to the lenders who lost money as a result of the OP not paying their debts back but life doesn't always work that way.

It depends if they have the right of clawback, or if the debts were actually sold in the first place.

Spurs501 wrote: »

I am new to all this so have no idea if I am like my to be successful in getting my mis-sold PPI premiums back.

You'll get them back if they were mis sold (and there is no outstanding debt).

But not if they weren't.

As mentioned above, since the PPI issue, some lenders have been going back on old contracts with collection agencies and agreeing on a clawback facility where the redress can go back to the debt. Where no clawback facility exists, the lender cannot offset the debt.

However, do be aware that often the debt was never sold in the first place. Collection agencies are employed by the lenders and you will get letters and action from the collection agency who are working for the bank. It doesnt mean it was sold to them.

How can the companies prove that PPI was or wasnt mid sold?

There has to be something that points to a wrongdoing. If nothing does then they wont pay out unless its an auto-payout.

I am complaining on the basis that I was in long term employment and my company would have paid any sickness for six months full pay (and six month half pay afterwards) so I wouldnt have needed the policy.

The financial ombudsman service doesnt consider 6 months very long. They have been rejecting 12 months sick pay on some types of PPI. it really depends on whether the PPI pays out in addition to employer sick pay. if it does, then a complaint less likely to succeed on that point. If it doesn't then it is likely to succeed. Length of employment is irrelevant. in fact, it just confirms you were eligible and actually eliminates a complaint reason.

Does this not sound like a good case for proving the policy was mis sold?

on what you have said, no. Although we don't have access to the audit trail.

Spurs501 wrote: »

Thank you Dunstonh

There do seem many obstacles - I thought thousands of people have reclaimed PPI with very little issues?

Surely my circumstances cant be that different to many others?

There were many sales of PPI which have been paid out just to clear backlogs or because the payout was low. Others were genuinely miss-sold e.g. single premium PPI on loans or sold to people who could never claim. Now the situation is dying down they often have more time to check and see if it's worth paying out or rejecting the complaint. Every situation is different but coming into this late you may well have missed out on the auto-pay era (unless the payout sum is low)