Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Stuckinarut
    • By Stuckinarut 13th Jan 18, 9:54 AM
    • 224Posts
    • 37Thanks
    Stuckinarut
    PPI when previously under a trustdeed
    • #1
    • 13th Jan 18, 9:54 AM
    PPI when previously under a trustdeed 13th Jan 18 at 9:54 AM
    Loking for some information. I made a claim for PPI through a company, and have received a letter from Halifax today saying they have upheld my complaint and that I should receive a payment, but that it has been sent to my trustee as their information shows I am under an IVA/Trustdeed.

    Now I did have a trust deed, but I have a letter confirming that I was discharged on 10/07/2006. Does anyone have any knowledge as to whether this PPI payment would still be used to go towards previous creditors under the trusteed. Itís been that long ago will my trustee even still have my details? They most definately wont have my current address so I will contact them Monday regarding that, iím just wondering whether they will get the full PPI payment.

    Any advice would be great.
Page 1
    • Moneyineptitude
    • By Moneyineptitude 13th Jan 18, 10:23 AM
    • 19,114 Posts
    • 10,294 Thanks
    Moneyineptitude
    • #2
    • 13th Jan 18, 10:23 AM
    • #2
    • 13th Jan 18, 10:23 AM
    Asked so often, it's a "sticky" on the bankruptcy board;
    http://forums.moneysavingexpert.com/showthread.php?t=3766585
    • Stuckinarut
    • By Stuckinarut 13th Jan 18, 11:53 AM
    • 224 Posts
    • 37 Thanks
    Stuckinarut
    • #3
    • 13th Jan 18, 11:53 AM
    • #3
    • 13th Jan 18, 11:53 AM
    Thanks, it looks like the money will go to previous creditors which is fair enough. However on reading it looks like the ppi company can still pursue a fee which was not made clear even though I was honest and told them I had previously been part of a trust deed! So not happy about finding that out.
    • dunstonh
    • By dunstonh 13th Jan 18, 1:05 PM
    • 90,373 Posts
    • 57,155 Thanks
    dunstonh
    • #4
    • 13th Jan 18, 1:05 PM
    • #4
    • 13th Jan 18, 1:05 PM
    . However on reading it looks like the ppi company can still pursue a fee which was not made clear even though I was honest and told them I had previously been part of a trust deed!
    Maybe not as bad as you think.

    Yes, the CMC can charge against the redress despite you not receiving a penny of it. This is why advice on this site is to never use a CMC when you have arrears, defaults or amounts written off.

    However, if you made the CMC aware of any of these, they are required to tell you the consequences if you were to proceed. The more reputable CMCs will refuse to take on your complaint.

    So, it sounds like you have been missold by the claims company. In which case, if they ask you for money, you put in a complaint.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • Stuckinarut
    • By Stuckinarut 13th Jan 18, 1:37 PM
    • 224 Posts
    • 37 Thanks
    Stuckinarut
    • #5
    • 13th Jan 18, 1:37 PM
    • #5
    • 13th Jan 18, 1:37 PM
    Thank you.

    I have read somewhere that the trustee could return the money stating that I can have it so maybe i’ll be lucky but i’m not counting on it. Will they even still have my details 11years after I was discharged.

    Anyway I will phone them on Monday to update my address as I would like written confirmation of where the money will be used.
    • Moneyineptitude
    • By Moneyineptitude 14th Jan 18, 2:15 AM
    • 19,114 Posts
    • 10,294 Thanks
    Moneyineptitude
    • #6
    • 14th Jan 18, 2:15 AM
    • #6
    • 14th Jan 18, 2:15 AM
    I have read somewhere that the trustee could return the money stating that I can have it .
    Originally posted by Stuckinarut
    In your situation, I'd be more concerned that the Claims Company will want a fee based on the redress which you are not entitled to.

    I'm also not sure you are in any position to expect details of where redress from a complaint you were not entitled to make will go.
    Read the link again:
    http://forums.moneysavingexpert.com/showthread.php?t=3766585
    • Stuckinarut
    • By Stuckinarut 14th Jan 18, 9:20 AM
    • 224 Posts
    • 37 Thanks
    Stuckinarut
    • #7
    • 14th Jan 18, 9:20 AM
    • #7
    • 14th Jan 18, 9:20 AM
    I have read on a trust deed site that if both myself and my trustee are discharged then I can apply for ppi but it can still be used for the previoys trust deed.

    At the time if making the claim I didnít realise I wasnít able to claim and I did advise the company that I had a trust deed.
    • Moneyineptitude
    • By Moneyineptitude 14th Jan 18, 9:22 AM
    • 19,114 Posts
    • 10,294 Thanks
    Moneyineptitude
    • #8
    • 14th Jan 18, 9:22 AM
    • #8
    • 14th Jan 18, 9:22 AM
    It is slightly different in Scotland, but a Trust Deed is still just another name for bankruptcy. I'd therefore post any queries on the Bankruptcy Board.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

4,339Posts Today

8,148Users online

Martin's Twitter