PPI Interest to be paid direct to me?

[kken67]

Hi all,

I know you must get asked this a million times

but i cant seem to find an answer though I am sure I have seen this before.

 

 

we have just had an offer of around 2k for PPI redress from Natwest

but because the policies were so old, a good half of this is the 8% interest.

 

 

We do have a large CCJ (8K) with Natwest

which is subject to a court ordered payment of £70PCM through Dryden Fairfax solicitors. I have 2 questions

 

1) Can the bank offset the returned premiums against the 8k

 

2) I read somewhere that the y had to pay the statutory interest direct to us

and couldnt offset that.

Am I right in thinking that?

 

I have a leaky roof and could really do with the money to sort it out.

 

Thanks

[dx100uk]

are / was natwest the NAMED claimant on the CCJ?

 

 

dx

[dx100uk]

ah I think you mean a CO?

 

re this old thread

whereby you asked this before too..

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?377262-Natwest-PPI-Reclaiming-got-CCJ-who-gets-it.

[kken67]

Hi dx,

yes i have claimed off Natwest before.

 

What has happened this time is that a friend said she had got a cheque for miscalculated ppi redress

so I decided to ring Natwest and chance my luck .

 

I was told the redress from a couple of years ago had been calculated properly but...

I hadnt claimed on all the policies we had had with them.

One of these dates back to 1993!!!

 

The charging order is still on the house but the court also ordered the repayments set at £70 a month.

I just read the old thread and saw what it said about notified arrears.

 

Well, the payments for this order are up to date so there are no arrears.

Would this suggest they cant offset against this debt then?

 

Also, the question re our entitlement to the interest?

Thanks for your help

[dx100uk]

there is always our search cag box of the red toolbar...

 

 

https://cse.google.co.uk/cse?cx=partner-pub-0964707606882478:652l7hswbgv&ie=UTF-8&q=offset+of+8%25&sa=Search+CAG#gsc.tab=0&gsc.q=offset%20of%208%25&gsc.page=1

[Fred_Funk]

As I understand it, RBS got a judgement at some point in 2015,

as a result of which they're no longer obliged to pay the statutory interest component of a successful claim to someone who has an outstanding debt with them.

 

 

Details of this judgement are hard to find, but I've spoken to the FOS who confirm it to be the case.

 

At the same time, if you find yourself in this situation,

I'd suggest it's worth taking a few minutes to look at the following FOS judgement:

 

http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=5623

 

Essentially, it's not as simple as offsetting a successful claim for mis-sold PPI against any debt with the bank

- for instance, you can't offset compensation for mis-sold PPI on a loan against a defaulted bank account,

but if the same loan account was in default the bank could legitimately offset it against that.

 

My experience and, moreover, my impression from reading lots of threads on here

is that the banks will plead ignorance of this detail

and attempt to offset against any debt with the group.