PPI claims and settled loans?

[amykelly]

Hi.

I have a problem and I would value some advise please.

 

We are in the middle of a claim.

 

My husband had a lot of debt, including defaults and two ccjs.

 

The loan relevant to this aplication was sold to a third party.

 

After some time, we made an agreement with this new company, to pay a large lump sum to settle the debt.

 

It has now been settled for over three years, which is reflected in our improving credit report.

 

Will the bank be able to keep some of the money from our claim, to compensate themselves for the deficit between the total loan and what we paid off?

 

No one in the bank will tell us for certain.

 

In my mind there is no loan now, but some of my friends have said that they might take the difference back.

[MARTIN3030]

After the loan was assigned (sold) then the bank would have no further interest.

You will need to claim agains whoever it was that sold you the PPI.

The bank has a responsibility and a duty to refund you what you paid plus interest if it was miss sold.

Who is the bank ?

[dx100uk]

offset can only happen on notified arrears you have within the same 'group'

 

these are detailed are normally contained in any letter entitled 'notice of sums in arrears'

 

i hope you are not using a reclaims company?

 

sadly if you paid a dca a short settlement i bet you got fleeced there too

 

as the debt will be marked as partial settlement on your cra file

 

for what good that did you might as well of burned the money

 

tell us about these ccjs and other debts too.

 

dx