Natwest credit card PPI reclaim

[Appsnadia]

Hi everyone,

 

I need some help with a current PPI claim I have through Natwest credit cards. In February 2013 I decided to check on a credit card ( which had defaulted payments) to see if I had ppi. I am currently making monthly payments to an external company who have acquired the debt, and pay based on personal circumstance.

 

Today I have recieved a letter from the financial ombusment, who have made me a offer with no exact figures of how much ppi I paid as the bank is not admiting liability. This letter also states thy f I have any outstanding debts with the company I will not recieve my claim as it will pay off the outstanding debts.

 

So a few questions;

 

Is there a way around this? I.e should I go to an external company? As I did have the ppi and I wouldn't have gone I to areas if I had of known it was on the card because I could have used it.

 

Should I accept this offer, with no details of how much I paid? Can I make sure the pay me and not Natwest.

 

 

Thanks

X

[ims21]

Hi

 

The normal process would be that fos will instruct the lender to make an offer to you and it is they who should set out the amount of that offer. Do not accept any offer which has not been quantified to you.

 

It is not the fos who will be making payment...it will be the lender.

 

You say that an external company is collecting on this. Has the debt been sold to them or are they collecting on behalf of the original creditor?

 

If the debt has been sold then there can be no set off against it. If you have other debts with the same banking group then they will be allowed to set your PPI refund against other debts but only to the extent of notified arrears.

 

If you have other debts with the same group and the accounts have been terminated then set-off is allowed.

 

If none of that applies then the refund must come to you.

[ims21]

I have also moved you thread to the PPI forum.

[Appsnadia]

Hi,

 

Thanks for your response. I have just called the collections company (Newman & co) who are now working as Transcom?and after a sheepish hesitation and two minute hold the gentleman told me that they are working on behalf of natwest. Should I trust this response?

How would I go about asking for accurate figures so I can understand if a settlement figure given to me is correct?

 

 

I do greatly appreciate your help

 

Thankyou x

[ims21]

You can check your credit file to see who is listed as the owner of the debt.

 

Did you receive a notice of assignment. If not then the Original Credit still owns the account and they will be able to set off.

 

The lender should make you a written offer detailing the premiums paid and the interest awarded.

 

To check it you would need all of the account statements.