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PPI Dilemma

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  • PPI Dilemma

    This is for a family member not me personally.
    They have statute barred CC debts some of which have PPI on them and the statements to prove it.
    Reading up on this I have read that if the accounts are closed over 6 years ago this would be a lot harder to do as banks etc don't hold records for the accounts longer than this.
    Also even though the debts are statute barred no one wants to wake the dead on this, so what to do guys, let sleeping dogs lie or go for it?
    Tags: None

  • #2
    Re: PPI Dilemma

    Morning enaid

    Imho

    If you're certain of SB, I'd go for it.
    If the Limitation period is gone, SB debts cannot become un-statute-barred.
    CAVEAT LECTOR

    This is only my opinion - "Opinions are made to be changed --or how is truth to be got at?" (Byron)

    You and I do not see things as they are. We see things as we are.
    Cohen, Herb


    There is danger when a man throws his tongue into high gear before he
    gets his brain a-going.
    Phelps, C. C.


    "They couldn't hit an elephant at this distance!"
    The last words of John Sedgwick

    Comment


    • #3
      Re: PPI Dilemma

      Well that's my feeling but OH has taken the moral high ground and said it's bloody cheeky, getting away with not paying and then trying to get a refund.
      I have no such feelings toward the banks etc, most of the problems have been brought on by themselves and they never had a problem ripping us off.
      Just not sure if it will be straight forward with the accounts being closed so long, think that's my main problem.

      Comment


      • #4
        Re: PPI Dilemma

        Originally posted by charitynjw View Post
        Morning enaid

        Imho

        If you're certain of SB, I'd go for it.
        If the Limitation period is gone, SB debts cannot become un-statute-barred.
        On that note anyone know how to work out the exact SB date, I have gone dizzy reading stuff and to be honest it is a grey area indeed to be exact.

        Comment


        • #5
          Re: PPI Dilemma

          Even if it is stat barred they could set off any compensation against the debts.

          Comment


          • #6
            Re: PPI Dilemma

            They have sold them on so don't think they can tbh

            Comment


            • #7
              Re: PPI Dilemma

              Originally posted by enaid View Post
              They have sold them on so don't think they can tbh
              I think they can and I know some do, or at least try. I think the rights could transfer with the sale of the debt but it's one of those questions that keeps popping up but never gets answered. Try calling FOS and asking them 0800 023 4567. I'd be interested to know what they say myself.

              Comment


              • #8
                Re: PPI Dilemma

                I have been researching on this and the fact that the DCA (Cabot) has taken over the full assignments, and the comment I read said, that Cabot cannot ask for refund of charges to be paid to them. The original creditor has to pay the refund to you and not he DCA, because of notice of assignment.

                The original creditor assigned the debt to cabot, and did so by passing their right, title and benefit.
                So the DCA have no right, title or benefit after the assignment.

                http://legalbeagles.info/forums/showthread.php?30168-Barclaycard-ppi-reclaim-will-refund-to-me-if-debt-sold-to-lowell-financial

                The fact here is that, if the Bank/Business fully assigned the debt onto a Debt Collection Agency, this means it will include all of its respective rights, title, and interest in respect of the account.
                So once the sale has been done from business to debt collection agency, this should no longer be nothing to do with the original business.

                Comment


                • #9
                  Re: PPI Dilemma

                  It's still not definitive though is it? I don't want to diss Dizzy Di but it seems to be just her view TBH. I'll give FOS a call tomorrow and see what they have to say.

                  Comment


                  • #10
                    Re: PPI Dilemma

                    Sorry I posted too soon Dougal had a positive answer and it's on here somewhere about theft lol
                    http://www.legalbeagles.info/forums/...-and-sold-debt
                    Last edited by enaid; 31st January 2017, 16:48:PM.

                    Comment


                    • #11
                      Re: PPI Dilemma

                      Legal assignment via LoPA 1925 usually assigns the benefits of the contract from the assignor (ie original creditor) to the assignee (ie debt purchaser).
                      But not the burden.
                      Miss-sold PPI would, imho, be classed as a burden, & as such should be reclaimed from the original creditor (or in some cases, from an underwriter).
                      It is, imho, nothing to do with the assignee (debt purchaser) & should not be offset against any alleged debt owed to the debt purchaser.
                      CAVEAT LECTOR

                      This is only my opinion - "Opinions are made to be changed --or how is truth to be got at?" (Byron)

                      You and I do not see things as they are. We see things as we are.
                      Cohen, Herb


                      There is danger when a man throws his tongue into high gear before he
                      gets his brain a-going.
                      Phelps, C. C.


                      "They couldn't hit an elephant at this distance!"
                      The last words of John Sedgwick

                      Comment


                      • #12
                        Re: PPI Dilemma

                        Originally posted by enaid View Post
                        On that note anyone know how to work out the exact SB date, I have gone dizzy reading stuff and to be honest it is a grey area indeed to be exact.
                        A grey area indeed.........as evidenced in BMW Financial v Hart.
                        But with regulated agreements such as credit cards, I reckon a reasonable indication of the 'accrual date' for cause of action would be the s87 Default Notice.
                        That gives (nowadays) 14 days to regularise the account..... 'or else'.
                        CAVEAT LECTOR

                        This is only my opinion - "Opinions are made to be changed --or how is truth to be got at?" (Byron)

                        You and I do not see things as they are. We see things as we are.
                        Cohen, Herb


                        There is danger when a man throws his tongue into high gear before he
                        gets his brain a-going.
                        Phelps, C. C.


                        "They couldn't hit an elephant at this distance!"
                        The last words of John Sedgwick

                        Comment


                        • #13
                          Re: PPI Dilemma

                          Well I read this but again no deffo proof can i find.

                          if you are in a monthly repayment plan with an original creditor and you pay on the 10th of every month your default date begins on the date you miss your payment. In simple terms you pay on the 10th of January and you stop paying, your next monthly payment date would be on the 10th of February your default date would begin from the 10th of February as this is the next scheduled payment date and the payment you miss. Exactly the same applies if you are in a repayment plan with a debt collection agency or other agency with which you have a payment plan, and these include IVA's.
                          This confuses many people and the situation arises very simply as until the 10th of February when you miss a payment you are classed as being up to date with your payments, and this is crucial when you are nearing being statute barred from an alleged debt. Many people fall foul of this and are often a month out and get caught because they take the date of last service which is the date of their last payment and calculate 6 years (5 years in Scotland) from this date and not the actual date of default date which is the date they miss their payment.

                          Default notices seem to be placed willy nilly lol

                          Comment


                          • #14
                            Re: PPI Dilemma

                            There's this from the ICO, but it is referring to default reporting via Credit Reference Agencies

                            4. If you fall into arrears on your account, or you do not keep to the revised terms of an arrangement, a default may be recorded to show that the relationship has broken down. As a general guide, this may occur when you are 3 months in arrears, and normally by the time you are 6 months in arrears.There are exceptions to this which may result in a default being recorded at a later stage,such as secured or long term loans e.g. mortgages, or if the product operates in a more flexible way e.g. current accounts, student loans, home credit.
                            http://www.scoronline.co.uk/sites/de...ment_final.pdf
                            CAVEAT LECTOR

                            This is only my opinion - "Opinions are made to be changed --or how is truth to be got at?" (Byron)

                            You and I do not see things as they are. We see things as we are.
                            Cohen, Herb


                            There is danger when a man throws his tongue into high gear before he
                            gets his brain a-going.
                            Phelps, C. C.


                            "They couldn't hit an elephant at this distance!"
                            The last words of John Sedgwick

                            Comment


                            • #15
                              Re: PPI Dilemma

                              Have emailed FOS I prefer their reply in writing then I get it right lol

                              Comment

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