PPI Refund of Premiums After Full & Final Settlement

[Funnyusername123]

I've recently reached an agreement with all my creditors for a full and final settlement of my debts,

including NatWest who owe me several thousand in PPI.

 

 

During the complaints process I went through in order to get this agreement,

it has transpired that my PPI claim from last year still hasn't been paid out.

 

 

NatWest said they were going to use the money to pay down my existing debts but I refused to sign the acceptance form

because they had previously informed me they would at least pay the interest to me directly.

 

 

Since my complaint, they have agreed to pay the interest directly to me, but are still saying they will be paying the premiums towards my debts.

 

What I want to know is,

if I make the lump sum payment, and my accounts are marked as partially settled (as per my agreement with the bank),

can the bank still keep my PPI premiums after that, or do they then have to pay them directly to me?

 

 

I've put in a complaint, and demanded that, in light of my F&F agreement,

they pay the premiums directly to me, otherwise I will pay a reduced settlement amount.

 

 

However, it's still all slightly up in the air because I haven't made my F&F settlement payments yet,

and am a little reluctant to do so until I have sorted out the PPI matter

because I don't want to pay the F&F amount and then effectively have my PPI premiums used

to pay the bank back more than was agreed.

 

 

Hopefully that makes sense?

 

What I'd like to know is, does anyone know whether banks can use PPI premiums to further pay down debts after a F&F settlement,

or if they have to be returned to me in full once my accounts are closed and marked as partially settled?

 

Thanks

[dx100uk]

you'll only get back the PPI you ACTUALLY paid.

 

 

I hope you've sent them a CCA request for each debt?

are they on your credit file?

 

 

give us some dates too

 

 

dx

[florish]

I hope you don't mind me asking, but what percentage did NatWest credit cards accept for your F&F?