Reclaim PPI after been passed to DCA

[mosten]

Had a loan with Black Horse for 5,000 taken out in 2007

monthly payments were 135pm

Single premium PPI added for 1800

In 2009 loan was passed to DCA who were chasing me.. Made agreement with them for 80 pm and have paid this for 2 yrs... (never missed payment)

I asked the DCA for a settlement figure 6 mths ago and they told me 2000 would clear debt.. Great I thought since I knew my ppi had been mis-sold so that might clear it.

I wrote to Black Horse to reclaim my PPI and they sent me statement saying still owe them 5000 minus the 1500 ppi refund they are offering..????

1) Surely the original lender cant still claim I owe original debt plus all charges since I have been paying the 80 as agreed to DCA

2) What is my next step....? Contact black horse again or DCA or both ?

Thankyou in advance...

[Paul210]

Re: Reclaim PPI after been passed to DCA

Did the DCA say 2k was the balance on the account or thats what they will accept as a reduced settlement figure?

Also was the debt sold to the DCA to collect or is it still owned by BH and simply outsourced to a DCA to collect?

Either way, if BH make an offer they have the right to offset against arrears on the account (if they still own the debt will simply knock off, if they sold the debt it is common for it to be in the contract that the refund goes tot he DCA to offset) the DCA should then give you a new settlement figure (although this may not change depending on how much they knocked off for you if a reduced figure)

If the 2K quotes by the DCA is the actual balance then you need to notify BH that you have been making payments to the DCA which they may not have accounted for.

Its worth getting all of this sorted out so we know the exact position, will then be easier to advise/assist.

[WendyB]

Re: Reclaim PPI after been passed to DCA

Would probably be worth sending SAR to both Black Horse and the DCA to obtain all the info they hold, which would give a much clearer picture of what's what.