Hello my name is ***** ***** I will help you with this.
I assume you did default on the loan?
Is the PPI less or more than the outstanding amount of the loan please?
Yes I did default on the loan.
The PPI is less than the loan outstanding
Well the problem you have is this.
Just because it is statue barred does not mean they can not ask for it
Therefore if you put in a claim for PPI then they can apply it against the arrears.
But the real risk is by asking for PPI do you acknowledge the debt.
That is a real possibility and the Court may see you are being cheeky by trying to claim PPI and get out of the loan.
The loan is now statue barred, it's more than 6 years since the bank put a default on my credit file
Therefore if it was me, I would not try my luck because of that reason
However even if you did claim PPI the bank could just apply it to the arrears and there is nothing you can do about that.
I am sorry if this is not the answer you want and not necessarily the one I want to give you, but I have a duty to be honest
Can I clarify anything for you about this today please?
The FOS told me because the bank sold the debt they cannot apply the PPI onto the outstanding loan
But the PPI I've claimed back is for the payments I had made on the loan, what's cheeky about that?
Because you run the risk of a Judge saying well you want PPI back but you wont pay the loan back
The Judge may well be infer that applying for PPI you accept there was a loan and therefore a debt.
But in any event the lender can just apply the PPI back to the defaulted loan amount and you are no better off
You can't make them pay you the PPI directly.
They can just apply it to the amount owing.
Even though that amount can't be enforced through the Court.
I would let sleeping dogs lie
I am sorry if its not the answer you want.
But I need to be truthful
Can I clarify anything else for you?
I need to drop offline for about 10 mins - but I will respond when I catch my next train
What you are saying is not the law! I have said the FOS have said, if the bank has sold the debt they cannot use the PPI against the debt, because the bank no longer has the debt. I'm not sure you know what your talking about.please answer the question, what is the law, can claiming the PPI acknowledge the debt and start the 6 year period again for the debt to be collected?
Yes, ive received the PPI from the payments I have made on the loan, by asking for the PPI to be refunded have I acknowledged the debt and started 6 year period again for the debt to be collected?
As long as you claimed the PPI back and never said that you acknowledged the debt you will be ok.
By asking for PPI you are not saying you are liable the debt.
You are simply saying and ONLY saying: You charged me PPI when you should not have, I want it back
If the loan was with the bank it wouldn't make any difference for the reasons above, they would just offset it
But as it has been assigned then you are o
Sorry for the misunderstanding
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