Can I reclaim PPI whilst in a Debt Management Plan?
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A question that regularly crops up from our clients is “can I reclaim mis-sold PPI?” The answer is quite simply, yes. Being in a DMP does not make the reclaiming process any more complicated, as opposed to those that are not in plans or have cleared the balance on the account in question.
Background
In April 2011 UK banks lost a judicial review, which ruled in favour of the consumers and allowed people to claim for mis-sold Payment Protection Insurance. This, at the time, was predicted to cost the banks more than £4 billion.
Was I mis-sold?
The mis-selling of PPI may be defined as one, or more, but not limited to the following:
- You did not ask for the policy
- You did not want the policy
- You did not need the policy
- You were self-employed, retired or unemployed
- You were told the policy was compulsory
- You have a pre-existing medical condition
Whether you reclaim PPI yourself or through a claims management company you need to be aware that if you make a successful claim then the funds may be used to pay off what you owe the Lender.
With this being said, the creditors do work on a case by case basis and may send you the full payment.
If you believe that you were mis-sold PPI and would like to look into reclaiming, you can either do it by yourself or through a claims management company. To find out more about this then please speak to your case officer if you are already a Payplan client, or log into your Payplan Plus account.
Comments 17
Being on a DMP doesn’t affect your ability to reclaim PPI that was mis-sold to you. I believe the information that you received in the past was incorrect and you should look into this.
How do I go about claiming ppi whilst on debt management plan
We no longer offer the service of claiming back PPI through our Associated company Stake your Claim. We do have information available on the Payplan website in relation to claiming back PPI which may be of use. Alternatively, you are able to seek advice through Citizen’s Advice Bureau in relation to PPI.
Ive been out of debt managements since 2009 can I
Claim back the PPI that I paid for the 4 years I
Was in the payplan debt management
Who were you paying PPI to during a debt management plan? If it were for debts in the debt management plan then of course you can try and reclaim it but if you were paying a subscription plan to protect the payments into the debt management plan if you lost your job or were unwell then this is unlikely.
Hi Lauren I had sent management plans yeah ago and all load off.. Can I claim back ppi and not owe any thing to anyone as I’ve paid all the d plans back.. it’s over 10 years ago they were paid xx
I do not know who Lauren is – the blog was posted a long time ago. You can reclaim mis-sold PPI if you are in a debt management plan anyway but as everything is paid back you can certainly do so and keep the money yourself. It is only if you were in an IVA or bankruptcy and it was owed that it would go elsewhere.
I had a barclays account still paying through debt management am I entitled to ppi I had own business finished in 1998
You may well be entitled to this – you need to write and find out. It does take time though. You could then use this to reduce your DMP if you wished – looking at full & final settlements perhaps – as they should give you this money and not offset it against your debt.
I completed an iva a couple of years ago my husband claimed back ppi on an account included in iva two questions can they keep the money theyve awarded us to ofset the unpaid loan even though iva completed.,and are claims for you still able to bill us for 30 percent even ifbank takes back the money
Whether it’s due to IVA depends on what the proposals says – if a lender offsets and client is unhappy about that, they may complain to Financial Ombudsman SERVICE. It’s up to client to check terms of agreement with Claims Management Company – they may well be able to bill in case of offset as they have done the job they were employed to do you see.
However, was your husband in an IVA too as you say you were in an IVA but your husband claimed back PPI. It is not very clear.
I’ve got very bad credit an had numerous credit cards and loans which I’ve defaulted on but could I still claim ppi
You can and if you do it yourself – they should not set it off against your balances owing but they could
Hello, can I claim PPI on defaulted loans and cards?
Thank You
Yes, you can. However, the money may be deducted from the money you owe them although you should be given the choice.
Hello, I have recently applied for ppi with a ppi firm.and has come back with confirmed ppi on 5 accounts. I was about to proceed further but they then asked me if I had ever had a debt relief order which I had 5 years ago. I told them this and they then said they couldn’t continue with the case. They then referred me to their partner firm and said they would help me and they are free but the firm that referred say they charge a referral fee. I sent the signed email to then but then found out they don’t take on cases with people who have a debt management plan which currently I do. None ofthisstuff was previously askedwhen I startedthis. My question iswhat happens with my rights to find out what companies have confirmed ppi so I can do this myself. And do I have to pay fees. to these people as they dropped the case and I wasn’t aware of these questions until today after 2 months of applying. Thanks.
You can do it yourself but the money does not belong to you if it was an asset at the time you did the debt relief order ie it was from the debts you had included in it. It is better that they are honest now as otherwise you could end up with the debt relief order being revoked if the sum was big enough and you end up with a bill from the company who did it as none do PPI reclaim for free. If you have built up debt since and are in a debt management plan it is slightly different but the creditor may decide to offset the amount from what you owe them – they may not and you can choose whether to use it to repay your debts but you will have another bill to pay and they may well deduct it before they send you the money.
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