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My husband has received an offer for £7500 but has a loan for £10000 can they use all the ppi payment against the loan , or am I right in thinking that the 8% statutory interest is paid direct to him and the rest against the Loan?

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My husband has received an offer for £7500 but has a loan for £10000 can they use all the ppi payment against the loan , or am I right in thinking that the 8% statutory interest is paid direct to him and the rest against the Loan?

Forgot to add that his loan is in arrears and being managed by dmc

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8% direct to him. Is the loan that is in arrears, the one the PPI relates too? If yes, then they will offset. If it is a previous loan that has been paid off, then the money should go to him.

PPI reclaims:

RBS: Received stat interest on premiums - £2345, awaiting premiums refund (possible offset)

Blackhorse: Confirmed upheld, awaiting letter - circa £2k

 

Charges reclaimed:

Barclaycard £800 + 8% - Full refund

MBNA £780 (incl. 8%) - full refund

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Then it should be his money

PPI reclaims:

RBS: Received stat interest on premiums - £2345, awaiting premiums refund (possible offset)

Blackhorse: Confirmed upheld, awaiting letter - circa £2k

 

Charges reclaimed:

Barclaycard £800 + 8% - Full refund

MBNA £780 (incl. 8%) - full refund

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My husband has been offered a ppi settlement from natwest for £7500 from loans that are all settled.

 

But he has a loan that is in arrears with rbs that is being dealt with by a debt management company.

 

I know the bank will offset his money to pay toward the Loan but will they use the 8% statuatory interest to pay against it or will that be paid seperately to my husband.

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they can only offset against NOTIFIED ARREARS

 

these will be detailed in a letter called notice of sums in arrears.

 

i hope that DMP is not a fee paying one?

 

the 8% portion must goto him. yes.

 

have you checked Lloyds have their calcs correct too?

 

how did you reclaim by the FOS CQ method?

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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can i humbly suggest he DUMPS the DMP?

 

do it yourself or by a charity that is free like CCCS or Payplan.

 

who is the DMP co please.?

 

regardless to the DMP he should still get letters detailing the payments made / charges /PPI directly.

 

who did the PPI reclaiming you?

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites

can i humbly suggest he DUMPS the DMP?

 

do it yourself or by a charity that is free like CCCS or Payplan.

 

who is the DMP co please.?

 

regardless to the DMP he should still get letters detailing the payments made / charges /PPI directly.

 

who did the PPI reclaiming you?

 

dx

 

Hi, the dmp is back 2 credit. And they are going to be dumped!!! I will check the letters for arrears amount.

We did the claim ourself through the bank. Just worried that he won't get a penny so let's hope he at least gets the 8% interest. Thanks

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