Alliance & Leicester Ppi

steve76 · 27th June 2009, 17:52

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

alanalana · 27th June 2009, 19:17

Hello Steve,

Quote:

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 · 27th June 2009, 19:18

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 autolinker.com autolinking image

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 autolinker.com autolinking image

. 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.

27th June 2009, 17:52	#1 (permalink)
steve76 Basic Account Holder Watch out, there are Claims Touts about! Cagger since : May 2009 Posts: 126	Alliance & Leicester Ppi 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

27th June 2009, 19:18	#3 (permalink)
BankFodder Site Team The Consumer Action Group Where else can you earn 8% interest on your money? Start your County Court claim NOW!!! Cagger since : Jan 2006 I am in: Please consider making a donation if we have helped you. Thanks Posts: 11,501	Re: Alliance & Leicester Ppi 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. __________________ Please don't pm me about specific questions unless you have posted and it has not been dealt with or unless the matter is confidential. Please include a link to the post you want me to look at. If you have received a defence, contact me. Advice & opinions of BankFodder, The Consumer Action Group and The Bank Action Group are offered informally, without prejudice & without liability. Use your own judgment. Seek advice of a qualified insured professional if you have any doubts.