Obviously not for me. But I have found this forum invaluable and I don't know the answer. One of my friends has debts that are over 10 years and have never been paid. The are thinking of doing ppi. Will the creditors come after him if they used one of these firms. I'm a little worried it's going to open a can of worms and can offer no guidance as to what they should do.
Even if they don't come after him, and, assuming the debts are now statute barred, they can't enforce collection, but I imagine they would trash his credit score ( if it isn't already), my guess would be that they will offset any PPI refund due against the debt, leaving him with the bill to pay the claims firm (typically 30% of the refund he didn't get).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014