Alliance & Leicester Ppi

[steve76]

hi all

i sent A&L a PPI letter and today received a reply saying they accept responsibility and offer me £745 but as ive previously defaulted on the loan they are taking this sum off the balance owed

can they do this or am i entitled to this money direct to myself ??

any advice much appreciated

[Steward]

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[alanalana]

Hello Steve,

hi all

i sent A&L a PPI letter and today received a reply saying they accept responsibility and offer me £745 but as ive previously defaulted on the loan they are taking this sum off the balance owed

can they do this or am i entitled to this money direct to myself ??

any advice much appreciated

I believe if you are in arrears with a loan account they can use the refund to offset. However if the offer is £745 and lets say you have defaulted and are in arrears to a much smaller amount than £745 then IMO they should only reduce the arrears/ default by the smaller amount and refund the balance to you by personal cheque. They should not use a larger refund of PPI to shorten the balance only to make up any default.

aa

[BankFodder]

on what basis have they accepted responsibility? Could you let us know a little bit more of the facts of the mis-selling?

I'm getting a little tired of hearing of the banks are either admitting PPI mis-selling or else the fos is finding against them and they are simply being obliged to repay the money

These kind of cases strike me as an ideal basis for claims for restitutionary damages. What this means is that the bank has taken your money unjustly. They have unjustly enrich themselves. While there have had your money they have invested it all lent it out at commercial rates. They have enjoyed profiting from your money for a considerable period of time. To completely remedy the unjust enrichment, they should be required to disclose the profits of they have made and to repay those few as well.

This is not surprising or new law. The principal has been around for some time.

Let us know more about this case and its circumstances. You may find that you can quite easily double your money or even better.