Hi, just been awarded PPI I paid for a loan i took

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john c

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Post by john c » Tue Jan 10, 2012 2:52 pm
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Hi, just been awarded PPI I paid for a loan i took out 2003-2007, however the bank i took it out with are giving me the interest only and keeping the rest to pay off some of the debt i owe them, are they allowed to do this ? as i took the IVA out in 2010.
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ginger3232

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Post by ginger3232 » Tue Jan 10, 2012 2:57 pm
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John - sounds about right - sometimes they will offset if against the debt you owe them - check with your IP about the interest award though - as you may find this may also have to go into IVA pot (depending on amounts)
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plasticdaft

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Post by plasticdaft » Tue Jan 10, 2012 3:04 pm
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It does sound like standard practice.

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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