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Successful PPI reclaim on defaulted account
Good morning everyone,
It's been 10 years since the credit crunch when I defaulted on a number of accounts. After the initial flurry of letters, I never heard a peep from this particular account. I've not moved in over 12 years and never received notice of assignment for this account so wasn't sure whether it ever got sold to a DCA.
It would probably be too late now to try and get statements from accounts defaulted 10 years ago so I got in touch with a CMC earlier this year, who only asked you to tick boxes for those companies you thought you may have had accounts with, including banks, credit card companies, storecards, etc. Their services were no win no fee so I said, why not give it a go.
I have recently received a pleasant surprise, in the form of a payment for a few grand for PPI on this account. CMC did all the groundwork for 25% which, under the circumstances, wasn't bad at all, since I wouldn't have known where to start. The account was live for around 15 years, so a lot of PPI was accrued. Was a little surprised to hear that the 8% statutory interest is taxable, I don't recall hearing that before, maybe it's something new.
TV ads constantly remind us that the final deadline to reclaim PPI is the 29th of August, so I'd like to encourage anyone who hasn't tried it yet, to do so, even if you use a CMC who keeps some of the money, it is money you'd never have had.
Despite the lack of clarity regarding assignment of this account, the OC paid out instead of offsetting. This had been the reason for not doing anything earlier but now the deadline is upon us, something had to be done and it paid off. YAY!
It's been 10 years since the credit crunch when I defaulted on a number of accounts. After the initial flurry of letters, I never heard a peep from this particular account. I've not moved in over 12 years and never received notice of assignment for this account so wasn't sure whether it ever got sold to a DCA.
It would probably be too late now to try and get statements from accounts defaulted 10 years ago so I got in touch with a CMC earlier this year, who only asked you to tick boxes for those companies you thought you may have had accounts with, including banks, credit card companies, storecards, etc. Their services were no win no fee so I said, why not give it a go.
I have recently received a pleasant surprise, in the form of a payment for a few grand for PPI on this account. CMC did all the groundwork for 25% which, under the circumstances, wasn't bad at all, since I wouldn't have known where to start. The account was live for around 15 years, so a lot of PPI was accrued. Was a little surprised to hear that the 8% statutory interest is taxable, I don't recall hearing that before, maybe it's something new.
TV ads constantly remind us that the final deadline to reclaim PPI is the 29th of August, so I'd like to encourage anyone who hasn't tried it yet, to do so, even if you use a CMC who keeps some of the money, it is money you'd never have had.
Despite the lack of clarity regarding assignment of this account, the OC paid out instead of offsetting. This had been the reason for not doing anything earlier but now the deadline is upon us, something had to be done and it paid off. YAY!
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