Ppi paid for old debt

Georgybaby · 9 July 2019 at 12:44PM

Hi i had a mint credit card I took out in 2005, the last statement I have is 2009 when I had a balance on it but can't remember what payments were made after this date. I have since moved house and had no contact from rbs or mint. I decided to do a ppi claim and was given an offer which I accepted. They have now told me the cheque was sent to mint to pay off the credit card. I understand they can do this but as the debt is so old I would have thought it would have gone to a collection agency. I've not had anything in writing to say what the balance is and what's been paid. Its a bit annoying being offered the money and finding won't be getting it although understand they want paying. Is there anyone I can write to to clarify this, tried checking my credit file but as its so old it doesn't show on there.

SonOf · 9 July 2019 at 12:58PM

I understand they can do this but as the debt is so old I would have thought it would have gone to a collection agency.

Most does not. Whilst banks and lenders do use the services of collection agencies, they do not always sell the debt to them.

Its a bit annoying being offered the money and finding won't be getting it although understand they want paying.

Its a bit annoying when people do not pay their debts too.

Is there anyone I can write to to clarify this, tried checking my credit file but as its so old it doesn't show on there.

You need to be careful. It may not be statute-barred yet. They may well have continued sending out monthly statements for several years before deciding to send a default notice. The limitation period starts running after that. So, you could end up stirring a hornets nest.

The banks and card providers routinely set off PPI redress against debts. It really is a routine transaction. If there is an excess, they return the excess to you. If there isn't and you are not statute-barred then you have kindly given them new contact details to come after you for the debt.

Georgybaby · 9 July 2019 at 1:39PM

Thank you for reply, at the time I had so many debts some which have been cleared some I'm still paying. I was in process of splitting with my ex and had a baby on way so didn't get round to contacting all the relevant people. I was sure it had been paid off but obviously not and quite surprised they hadn't found me at my new address as quite easy to trace people. Will wait and see if they contact me as to any money owing or any surplus after the payment.

Ppi paid for old debt

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free