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Hi! I have received demanding letters from Bank Smart for stopping payments regarding PPI. I stopped these payments as I saw that Bank Smart no longer existed and when I tried to log into my account it would not allow me to. I reduced my monthly payment from £50 to £15 due to financial difficulties and have not paid anything since 04/09/2023> I am now being threatened with Court action. I am not sure where to go with this. Bank Smart want full payment of £2743.54
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HiyaOriginally posted by CMAR View Post
Firstly, do you know what kind of invoices the payments relate to? They would be for either commission on a successful PPI claim(s), cancellation of your contract with them or for breach of contract.
If you could post up the letters (removing any personal details) or just email them to me at nick@legalbeaglesgroup.com that would be helpful.Comment
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Got it.
It appears to be for 3 commission invoices for PPI refunds in 2016.
Did you receive the PPI refunds from Genworth/Santander at the time?
Also do you know how much you've paid Bank Smart in total?Comment
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Hi, Yes I would have received the PPI refunds I have attached a statement of payments.Originally posted by EXC View Post
Thank you
ChristinaComment
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Ok I'll take a look. I've removed the spread sheet from your post as it contains personal info.Comment
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Well I've crunched the numbers and they look about right. But you really need to check your bank statements to verify the payment amounts.
Assuming they're right I don't think you've got any options other than to send them the financial information to justify continuing to pay them £15 a month. You currently owe £2743.
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Okay I was willing to do that but don't think they will accept it. I will fill in the expenditure sheet and fingers crossed they will accept. Also I was just a bit nervous as it seems the company no longer operates and I wondered who I would be paying?? I tried to log onto my account but it doesn't allow me.Comment
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They still operate as a company but they are no longer taking on PPI claims etc. I know that people can no longer see their online accounts but that doesn't mean anything.
According to their letter of 17 November they are still offering you the option of paying the £2743 at £15 per month subject to you completing the financial forms and give you 30 days to respond. So when you send/email them the information, quote their offer in the letter and say you are responding to it. I would do it sooner rather than later and in fact I would email them now and say you are going to send it ASAP.
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Thank you for this I am in the process of filling in the information. I am so stressed with the whole thing and was more worried about not being able to view my account. I also wondered who I will be making payments to?? if Bank Smart no longer exists.Originally posted by EXC View PostComment
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They still exist as a company, they just don't do claims management.Comment
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