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  • FIRST POST
    • amstel2
    • By amstel2 13th Mar 17, 2:40 PM
    • 246Posts
    • 35Thanks
    amstel2
    Ppi
    • #1
    • 13th Mar 17, 2:40 PM
    Ppi 13th Mar 17 at 2:40 PM
    Hello

    I have read on previous posts that PPI compensation claims after BR are the property of the O/R However, have the rules changed?

    Why I ask is that I have just recd an un-solicited letter from a company called Mcginness Associates, Accountants & Business Advisors.

    The first paragraph of the letter states (I quote exactly). “We would like to make you aware, that after being discharged from your bankruptcy, you are now entitled to claim for compensation for mis-sold financial products such as PPI”.

    It then goes on to say no win no fee, pay nothing until compensation is in you’re a/c etc. They have also enclosed a sheet of testimonials with names & pictures of people they have successfully represented.

    So am wondering if anyone has heard of this company, have the rules changed or are they lying, & how did they know I am a discharged bankrupt. I was discharged 9 years ago so nothing about me on the Insolvency Register. I know about the intrusive rag The London Gazette but I thought that was only used by mortgage providers.

    Thanks
Page 1
    • Grumpelstiltskin
    • By Grumpelstiltskin 13th Mar 17, 3:01 PM
    • 2,189 Posts
    • 2,231 Thanks
    Grumpelstiltskin
    • #2
    • 13th Mar 17, 3:01 PM
    • #2
    • 13th Mar 17, 3:01 PM
    Well that is different to what it says in their T & Cs.

    https://www.mcginnessassociates.com/ppi-terms-and-conditions


    5.11
    • peterkay369
    • By peterkay369 13th Mar 17, 3:53 PM
    • 164 Posts
    • 68 Thanks
    peterkay369
    • #3
    • 13th Mar 17, 3:53 PM
    • #3
    • 13th Mar 17, 3:53 PM
    To the best of my knowledge, if the PPI was on a loan that is part of the bankruptcy, it now belongs to the OR.

    In all honesty it would be best to ask the OR for clarification, rather than claiming the PPI and then being contacted by the Insolvency Service a few months down the line demanding the money.
    • amstel2
    • By amstel2 13th Mar 17, 4:09 PM
    • 246 Posts
    • 35 Thanks
    amstel2
    • #4
    • 13th Mar 17, 4:09 PM
    • #4
    • 13th Mar 17, 4:09 PM
    Well that is different to what it says in their T & Cs.

    https://www.mcginnessassociates.com/ppi-terms-and-conditions


    5.11
    Originally posted by Grumpelstiltskin
    Obviously buried that deep totally contary to what the letter says. Yet they could land someone with a bill for fees. Looks like their on a fishing excercise.
    • McKneff
    • By McKneff 13th Mar 17, 4:22 PM
    • 35,722 Posts
    • 45,995 Thanks
    McKneff
    • #5
    • 13th Mar 17, 4:22 PM
    • #5
    • 13th Mar 17, 4:22 PM
    Jeez, the lengths these greed driven parasites will go to astounds me
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
    • Moneyineptitude
    • By Moneyineptitude 13th Mar 17, 4:52 PM
    • 18,907 Posts
    • 10,122 Thanks
    Moneyineptitude
    • #6
    • 13th Mar 17, 4:52 PM
    • #6
    • 13th Mar 17, 4:52 PM
    No need to check with the Official Receiver. PPI redress is (and remains) a pre-bankruptcy asset which belongs to the OR for redistribution to your former creditors. There are no plans for this to change in any way.

    Throw letters from Claims management Companies in the bin. How they found out you are a bankrupt is nothing to worry about since the details are in the London Gazette and easily available online.


    5.11
    Originally posted by Grumpelstiltskin
    Indeed;
    5.11 "Acknowledge that any compensation may be applied as an insolvency asset, or other debt arrangement and that any compensation may not be paid directly to the Client"
    • debt doctor
    • By debt doctor 13th Mar 17, 5:10 PM
    • 4,177 Posts
    • 5,848 Thanks
    debt doctor
    • #7
    • 13th Mar 17, 5:10 PM
    • #7
    • 13th Mar 17, 5:10 PM
    Worst of all worlds - lose the compensation to the OR and get landed with a post bankruptcy debt for the parasites costs.


    Don't do it - but feel free to make a formal complaint and get it to the Ombudsman.


    DD
    Debt Doctor, Debt caseworker, Citizens' Advice Bureau .
    Impartial debt advice services: Citizens Advice Bureau Find your local CAB *** National Debtline - Tel: 0808 808 4000*** BSC No. 100 ***
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