Reclaimed Packaged Bank Fees

I filled out a Resolver form for Packaged Bank Fees I had.
The bank has now sent me a cheque for £700
My question is, I went bankrupt 8yrs ago, was discharged after 5 months, and these fees are from a bank I went bankrupt with, am I allowed to keep this money? Was I right in attemtping to claim it back? Should I give it back or to the Official Receiver (not sure I have their details anymore)?

Thanks

Comments

  • dunstonh
    dunstonh Posts: 116,033
    Name Dropper First Anniversary Combo Breaker First Post
    Forumite
    My question is, I went bankrupt 8yrs ago, was discharged after 5 months, and these fees are from a bank I went bankrupt with, am I allowed to keep this money?

    No. You need to contact the OR and let them know you have received it. There can be a lag between the bank contracting the OR and you getting the money. Some people have reported over 3 years before the OR was told by the bank. Those people that kept the money can get in trouble as it is a pre-bankruptcy asset.
    Was I right in attemtping to claim it back?

    Better that your unpaid creditors get the money than the bank I suppose.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • [Deleted User]
    [Deleted User] Posts: 26,612
    First Anniversary Name Dropper Photogenic First Post
    Forumite
    edited 21 July 2017 at 12:28AM
    Was I right in attemtping to claim it back?
    Legally, only the Official Receiver can make PPI complaints in bankruptcy cases. It remains a pre-bankruptcy asset for which the OR can come calling at any time.

    I would not recommend cashing that cheque unless you then intend paying it to the OR. No longer knowing who that was/is does not release you from your legal responsibility.
  • staceymack7
    staceymack7 Posts: 11
    Name Dropper First Post First Anniversary Combo Breaker
    Forumite
    Legally, only the Official Receiver can make PPI complaints in bankruptcy

    Does it matter that it's not PPI, it's Packages Bank Account Fees?

    Many thanks for your responses

    I will find the OR details and inform them
  • [Deleted User]
    [Deleted User] Posts: 26,612
    First Anniversary Name Dropper Photogenic First Post
    Forumite
    Does it matter that it's not PPI, it's Packages Bank Account Fees?
    Bankrupts are not allowed to benefit from any award pertaining to finance from before bankruptcy occurred. Any such redress is a pre-bankruptcy asset which belongs to the OR for redistribution to your former creditors.

    This is asked so often on the MSE bankruptcy forum that it has it's own "sticky" thread. You can read it in full and learn all the details at this link:
    http://forums.moneysavingexpert.com/showthread.php?t=3766585
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 342.4K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards