PPI claim Query

[dededan]

Hi all after all the fantastic help I recieved on this forum relating to my CCJ issue I thought what better place to go to find out my next query:tinysmile_twink_t2:
I have looked around the site and various other websites but there doesny seem to be a definitive answer and that maybe the case but ill ask anyways.
I am thinking of reclaiming PPI which I know was on my loans and credit card ( only just found out ) but never know about.
But... after a rough time when I was younger these debts were sold to a DMC.
Question is what would happen to refund if I was to win claim, would it go to myself or the DMC. I have seen people that have had the funds and others where the DMC gets the money and was wondering if there was any sets laws around this.

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Also these debts are statute barred now, would me claiming mean I am acknowledging the debts are mine and would the stat barred then not be in effect.

[di30]

Re: PPI claim Query

Hi there

If the debt was purchased from your bank, then the refund should come to you, if the debt is with your own bank's collections agency, the chances are the refund will be used towards any remaining balance, but otherwise the other as stated. So basically if the debt was bought from your bank, where your bank has no responsibilities over the debt any longer they will not or should not send your refund to the DMC. Good luck x

[dededan]

Re: PPI claim Query

Thanks di30 well no harm in trying.
my only concern was wether this would start the clock for statute barred or not.
There over 12 years old now.

[stevemLS]

Re: PPI claim Query

Once the Limitation Act kicks in the debt can't be "revived" for those purposes.