LLOYDS BANK PPI Refund??

[JGJ]

Hello all,

 

We have received confirmation of PPI refunds for 3 very old Business accs which were mis-sold.

Inclusive in the docs received from LLoyds was this page stating:

 

Please be aware that if your credit agreement is in arrears when we make the PPI refund, we will use part or all of the PPI refund to repay towards these arrears. If the PPI refund is more than the arrears on your account we will then refund the remainder of the PPI to you.

 

Your loan has been transferred to our Wholesale Banking Recoveries department and the amount we pay will be used to reduce your outstanding debt.

 

1)There were no outstanding debts on any of the 3 itemised business loans.

 

2) There is a ref on a CRA file to an old defaulted acc.

LLoyds assigned this acc to a CAIS member in 2012 and CRA file marked satisfied.

 

3) Do LLoyds have any claims or can they "set off" bearing in mind they assigned the defaulted acc to a third party, who subsequently gave up the chase and it is now Stat Barred since 2013.

 

All information guidance or advice re above points, before I consider sending the forms of acceptance back to LLoyds,will be as usual greatly appreciated.

 

"EXEMPLO DUCEMUS"

[ims21]

They only have a right of set off if they own the debt/account.

 

If they have sold it to a third party then there is no right of set off.

[JGJ]

ims21

 

Further info re the alleged debt LLoyds are referring to ( Tel call from there Recoveries Commercial Banking Dep} late pm today and they have revealed that the alleged debt they will set off the upheld PPI against is an old debt from the bank charges debaucle which was stayed in the courts system and is now more then 7yrs old his words. This forgotten about acc is surely Stat Barred and they will not be able to set off with PPI award.Looking through old docs Wescot made a failed attempt at collection and stated they were taking it off their files and we would not hear anything more from them Wescot and subsequently this alleged debt has not been serviced by ourselves for 7 yrs plus.

 

All further advice/info/guidance will be gratefully received, they have informed my wife by tel call that they will call us Friday 19th pm.

 

This alleged debt will be well over stat barred guidlines.

 

"EXEMPLO DUCEMUS"

[ims21]

If they still own the account then they can use their right of set off.

 

Matters not whether it is SB - the debt still exists and if they own the account then I'm afraid they can do it.

[JGJ]

ims21

 

Thank you for your swift reply it is greatly appreciated.

 

"EXEMPLO DUCEMUS"

[ims21]

[JGJ]

Hello All,

After talking to a named person from the Recoveries Commercial Banking dept of LLOYDS on Friday, re the PPI on the 3 accs being upheld and after looking at the form of ACCEPTANCE from the Customer Care, Payment Protection. I am rather dubious of signing the acceptance form. The named person told me that there will be no "set off" of the upheld funds and that I would receive the "full upheld amount" and the cheque would be sent to us within 28 days.

He rang us at the agreed time the next day, after we had contacted them re the "set off" and he confirmed that there would be no "set off" applied.

 

The Acceptance form is thus:

 

If you agree to this offer, please sign and return in the envelope provided.

 

We, Mr & Mrs ****** , accept the offer made as per the letter dated September 2014 in full and final settlement of our complaint.

 

We understand the refund will be paid for by cheque and will include interest where appropriate. We understand that you will use part or all of the refund to repay any arrears that are due at the time the payment is made.

 

Mr ******

Signed

Dated

 

Mrs ******

Signed

Dated.

 

After obtaining the verbal terms from the named person who contacted us, that no "set off" would be applied and we would receive the full upheld amount by cheque within 28 days and now reading the above letter, we are at odds with signing the form of acceptance I really do not trust LLOYDS.

 

All comments, words of warning/advice, will be gratefully received.

 

"EXEMPLO DUCEMUS"

[ims21]

Get them to put it in writing.

[JGJ]

ims21,

Thank you for your as ever swift reply and yes a good idea. I do not trust LLoyds at all after lots of previous problems with them stemming from the bank charges debaucle.

 

"EXEMPLO DUCEMUS"

[ims21]

Personally I would not be engaging with them on the phone.

 

If they are sure that there will be no set off get them to send aout a revised offer letter confirming that fact.

[JGJ]

ims21.

 

Thank you will do am Mon.

 

"EXEMPLO DUCEMUS"