PPI reclaim question

[alangee]

I am sure this has been asked before, but I cannot find a reference to it.

If I apply for a refund of my PPI payments, does any payment come to me directly or do they take it off the balance of my account?

Alan

[andie_303]

I think it depends - if the account is in arrears I believe generally it is refunded to the account if it is in credit you can chose if you want it back or to your account.

That is what I learned when dealing with Lloyds anyway.

[alangee]

Thanks Andie

I was thinking in terms that it was (or should have been) a separate agreement that you had with the insurance company, so they should pay you directly.

Alan

[andie_303]

you could argue that if they want to insist it was a single agreement so therefore being able to use the PPI to offset the loan it could render the whole it could render the whole thing unenforceable. Each section of the loan should have been completed seperately requiring a signature and t &c for each section - both the loan and PPI

[andie_303]

there is a multiple agreement thread on the forum that may help - i'll see if i can find the link

[alanalana]

Originally Posted by andie_303

there is a multiple agreement thread on the forum that may help - i'll see if i can find the link

Multiple agreements falling within section 18 CCA 1974

this is the link

aa