PPI Claim after loan passed to DCA

[mosten]

Bit of weird one.. I have friend who is in the following situation


Had 10000 loan with Santander with PPI ( single premium was 2400 ) taken 2006


Loan was passed to DCA when there was only 2000 left in payments (in last yr of loan)


The PPI reclaim is supposed to put you back in the position you were had you not taken it

Therefore..


(rough figures)


Loan was 10,000... with PPI 12,400... amount payable over term 17000

Loan 10,000 without PPI..................... amount payable over term 13500


If total payments he has made to them is say 15,000


Does he need to write to the bank to reclaim but also stating that if he didnt have PPI in the first place he would know be in credit for roughly 1,500 not owing 2,000 which he is being chased for by the DCA


Are there any sample letters for this please and what should happen in the end...

Can Santander clear the debt if upheld and also repair his credit report

Does he have to send any letter to the DCA or any other advice would be greatly appreciated

[pompeyfaith]

Re: PPI Claim after loan passed to DCA

Mosten,

He needs to make his claim to Santander using the FOS form, now as he has effectively paid the loan and the amount outstanding is the PPI that he maybe due back ( I say maybe because the claim is down to them and not me) he needs to enclose a letter with the form stating that DCA action on this account is unjust and unfair and must be stopped forthwith.

It is the bank that has to stop there actions as it was they that instructed them, you can write to the DCA if you wish but it will not achieve much.

[pompeyfaith]

Re: PPI Claim after loan passed to DCA

If any of the loan is outstanding this will will come of the redress awarded as for his CRA file it all depends whether he has defaulted on the loan if it can be proved that the account did not default until the loan was paid then the bank may have a point to answer although this will be hard as the loan is paid to term end.

[mosten]

Re: PPI Claim after loan passed to DCA

Just the normal FOS form for reclaiming then he should use...

I'll try and construct a letter then but wondered if there was template letter for accounts that had been mover to DCA... Thanks again..

[pompeyfaith]

Re: PPI Claim after loan passed to DCA

Yes use the form on the FOS site and send it to SantandeR

The form is on this page along with a practical guide

http://www.financial-ombudsman.org.u...notes/ppi.html

As for the letter I would advise against using a template, far better to compose your own letter as the situation is personal to you anyway.

Give it a go if you get stuck post it on here and I or someone else will have a go at tidying it up etc.

If you do post a letter on here just remember to remove the name and address first.

Regards