PPI Claims in Arrears
Can I make a PPI claim if I am behind with my debt repayments?
If you make a successful PPI claim whilst you are in arrears, your lender may decide to withhold some of your redress and off-set it against what you owe them. This could leave you with a smaller payout than you expected, or in some cases no payout at all.
We don’t want this to happen, because Gladstone Brookes would still have to apply a fee of 25%+VAT – which could put you in further financial difficulty if you can’t afford to pay it.
What should I do?
If you would like to make a PPI claim but you are in arrears, there are other options available.
We have partnered with a leading debt management company called Money Management Team. Money Management Team has a unique, two-pronged approach to helping you with your debt – first, they will attempt to reduce your debt by claiming back PPI and any other money you may be owed by your bank. Second, they will help you find a suitable debt solution – such as a debt management plan.
For more information, please visit the Money Management Team website.
Debt crept up on Marian when she was at her most vulnerable. After the death of her husband, her monthly repayments started to become unmanageable and she was really struggling to make ends meet. Money Management Team helped Marian take back control of her finances, and she was debt free within 11 months. They also helped her claim back some PPI. All this meant that Marian could relax and enjoy her retirement.