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    • Brumwood
    • By Brumwood 20th May 19, 12:47 PM
    • 8Posts
    • 1Thanks
    Brumwood
    Successful PPI Claim but what debt to pay first?
    • #1
    • 20th May 19, 12:47 PM
    Successful PPI Claim but what debt to pay first? 20th May 19 at 12:47 PM
    I am currently on a Pro rota payment plan for all my debts. I went through the Citizen's Advice Bureau to set up all my pro Rota arrangements and I have been paying religiously on time ever since. interest and additional charges have been frozen on all debts while pro rota payments are in place. I am currently in 10k worth of Debt with catalogues and credit cards.

    I made a PPI Claim and was successful in my claim. the amount awarded is equivalent to 20% of my debt.
    This was a claim against a old Historical catalogue account i had many years ago, which i defaulted on and the debt was sold off to a third party debt collector company.

    As everything is frozen interest wise, i am unsure what to prioritise to pay off debt wise. I was thinking of paying off some of the smaller debts, however my payments arranged was quite low, so I wont be gaining any benefit income wise, aside from of course paying off the debt.

    As the claim wont cover all the debts, and I was worried about invalidating my payment plans with some companies as a result of paying some off.

    I was thinking of going to the CAB for advice but I am worried that would invalidate any payment plan they helped set up.

    the best plan I came up with was clear what debts I can and keep a small amount in a savings account for any problems that arise - like needing a new washing machine, stuff like that. I know I have read that it is best put everything into debt, but i feel a little better keeping some as a back up as I am by myself and don't have people to run to in a pinch.

    Any advice?

    Thanks in advance!
    Last edited by Brumwood; 20-05-2019 at 1:42 PM. Reason: explaining better
Page 1
    • zx81
    • By zx81 20th May 19, 12:49 PM
    • 23,820 Posts
    • 26,482 Thanks
    zx81
    • #2
    • 20th May 19, 12:49 PM
    • #2
    • 20th May 19, 12:49 PM
    Any redress from the complaint should be offset automatically against those debts.

    Have they sent you the redress by mistake? Or was it not from a debt that you defaulted on?
    • Brumwood
    • By Brumwood 20th May 19, 12:55 PM
    • 8 Posts
    • 1 Thanks
    Brumwood
    • #3
    • 20th May 19, 12:55 PM
    • #3
    • 20th May 19, 12:55 PM
    this was a claim against a old Historical catalogue account i had many years ago, which i defaulted on and the debt was sold off to a third party debt collector company.
    • Moneyineptitude
    • By Moneyineptitude 20th May 19, 1:24 PM
    • 24,747 Posts
    • 14,284 Thanks
    Moneyineptitude
    • #4
    • 20th May 19, 1:24 PM
    • #4
    • 20th May 19, 1:24 PM
    I am currently on a payment plan for all my debts.
    Originally posted by Brumwood
    Be careful keeping any of this money for yourself.

    You really need to ascertain whether this money actually belongs to you or the provider of your Payment Plan. It may well be not down to you to choose who to pay...



    You would get far more knowledgeable advice posting your queries on the Debt Free Wannabe section of this board.
    https://forums.moneysavingexpert.com/forumdisplay.php?f=76
    • Brumwood
    • By Brumwood 20th May 19, 1:41 PM
    • 8 Posts
    • 1 Thanks
    Brumwood
    • #5
    • 20th May 19, 1:41 PM
    • #5
    • 20th May 19, 1:41 PM
    I am sorry I am think I am using the the wrong words...(all very jargon to me.) I paying my debts on a pro rata payement, the CAB wrote to my debtors on my behalf. im not on a debt management plan.
    • Moneyineptitude
    • By Moneyineptitude 20th May 19, 2:03 PM
    • 24,747 Posts
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    Moneyineptitude
    • #6
    • 20th May 19, 2:03 PM
    • #6
    • 20th May 19, 2:03 PM
    CAB wrote to my debtors on my behalf. im not on a debt management plan.
    Originally posted by Brumwood
    I'd still post your queries on the link I provided earlier. This part of the forum is concerned with PPI complaints, not the payment of debt.
    • Willing2Learn
    • By Willing2Learn 20th May 19, 2:12 PM
    • 4,383 Posts
    • 3,925 Thanks
    Willing2Learn
    • #7
    • 20th May 19, 2:12 PM
    • #7
    • 20th May 19, 2:12 PM
    This is a duplicate thread. That is not cool OP!!

    https://forums.moneysavingexpert.com/showthread.php?t=6003806

    I have answered on your other thread.
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • Moneyineptitude
    • By Moneyineptitude 20th May 19, 2:17 PM
    • 24,747 Posts
    • 14,284 Thanks
    Moneyineptitude
    • #8
    • 20th May 19, 2:17 PM
    • #8
    • 20th May 19, 2:17 PM
    This is a duplicate thread. That is not cool OP!!
    Originally posted by Willing2Learn
    It's not a simple duplicate, I advised re-posting on a more appropriate board and provided a link to that board.
    • Brumwood
    • By Brumwood 20th May 19, 2:18 PM
    • 8 Posts
    • 1 Thanks
    Brumwood
    • #9
    • 20th May 19, 2:18 PM
    • #9
    • 20th May 19, 2:18 PM
    hi this was not my intention to duplicate..I posted here originally and was advised to post over at the Debt free wannabe boards. which is what i did.

    if I can delete this post I will do. thanks.
    • Willing2Learn
    • By Willing2Learn 20th May 19, 2:21 PM
    • 4,383 Posts
    • 3,925 Thanks
    Willing2Learn
    It's not a simple duplicate, I advised re-posting on a more appropriate board and provided a link to that board.
    Originally posted by Moneyineptitude
    hi this was not my intention to duplicate..I posted here originally and was advised to post over at the Debt free wannabe boards. which is what i did.

    if I can delete this post I will do. thanks.
    Originally posted by Brumwood
    I didn't realise that. My apologies...
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • Moneyineptitude
    • By Moneyineptitude 20th May 19, 2:22 PM
    • 24,747 Posts
    • 14,284 Thanks
    Moneyineptitude
    hi this was not my intention to duplicate..I posted here originally and was advised to post over at the Debt free wannabe boards. which is what i did.
    Originally posted by Brumwood
    Don't worry about it.
    You are being chastised because others have posted the same thing multiple times.

    You did as recommended, but the user telling you off has clearly not read this thread properly first.
    • -taff
    • By -taff 20th May 19, 4:24 PM
    • 10,508 Posts
    • 14,714 Thanks
    -taff
    If you already have the cheque or it's been paid into your account, i would move it asap. You are allowed to keep something [given to you if they haven't checked your previous deb t status properly] if you think you are rightfully receiving it and as you've been told the debt has been sold on, there's no reason for you to think otherwise.
    If it were a bank or building society writing to you, I wouldn't do that, but a catalogue will be more likely to have sold your debt with no clawback than a bank.
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