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    • Chickenman1108
    • By Chickenman1108 7th Sep 17, 8:35 AM
    • 11Posts
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    Chickenman1108
    PPI Claim after bankruptcy
    • #1
    • 7th Sep 17, 8:35 AM
    PPI Claim after bankruptcy 7th Sep 17 at 8:35 AM
    Hi all,
    I declared myself bankrupt 9 years ago. I was discharged 8 years ago.
    I know I had PPI on at least two of my credit cards prior to going bankrupt.
    I'm now wondering what my rights are with regards to claiming back this PPI. All the advice that I've found online seems to apply to people that are only recently bankrupt and not yet discharged.
    If I was discharged 8 years ago, can I claim back any PPI owed to me?
    I understand that if I went bankrupt owing companies money then any PPI due should be offset against my debt, but does this still apply so long after the bankruptcy?
    Also, one of the credit cards that I know I had PPI on wasnt actually part of my bankruptcy order (it was closed years earlier) so this one is surely fine to claim back on, even if the others arent??
    Any advice would be grealy appreciated
    Thanks :-)
Page 1
    • dunstonh
    • By dunstonh 7th Sep 17, 9:26 AM
    • 89,486 Posts
    • 54,951 Thanks
    dunstonh
    • #2
    • 7th Sep 17, 9:26 AM
    • #2
    • 7th Sep 17, 9:26 AM
    I'm now wondering what my rights are with regards to claiming back this PPI.
    You have no rights to complain about PPI sold prior to your bankruptcy. If you did complain and your complaint was successful, the money goes to the OR. Not you. PPI redress is a pre bankruptcy asset.

    but does this still apply so long after the bankruptcy?
    Of course it does. Bankruptcy is a line in the sand. It is either one side of it or the other. Time is not an issue.

    Also, one of the credit cards that I know I had PPI on wasnt actually part of my bankruptcy order (it was closed years earlier) so this one is surely fine to claim back on, even if the others arent??
    That is not how bankruptcy works. YOU went bankrupt. Not the debt. Every asset you had is considered. PPI paid before you went bankrupt but refunded after you went bankrupt is a pre bankruptcy asset. The whole point of bankruptcy is to draw a line in the sand. That works both ways.
    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 a Financial Adviser local to you.
    • Chickenman1108
    • By Chickenman1108 7th Sep 17, 9:52 AM
    • 11 Posts
    • 0 Thanks
    Chickenman1108
    • #3
    • 7th Sep 17, 9:52 AM
    • #3
    • 7th Sep 17, 9:52 AM
    Of course it does
    I thought the point of these forums was to help people - not to patronize / belittle them? Your response would suggest that I should know this already - which clearly I do not otherwise I wouldn't be trying to find out.

    Whilst I do appreciate all advice - and I dont doubt your expertise - I was only trying to establish if I was entitled to anything, the same as everyone else trying to claim back PPI.

    Nevertheless, I thank you for your time and advice.
    • Moneyineptitude
    • By Moneyineptitude 7th Sep 17, 12:06 PM
    • 19,285 Posts
    • 9,390 Thanks
    Moneyineptitude
    • #4
    • 7th Sep 17, 12:06 PM
    • #4
    • 7th Sep 17, 12:06 PM
    I was only trying to establish if I was entitled to anything, the same as everyone else trying to claim back PPI.
    Originally posted by Chickenman1108
    Unlike "everyone else", bankrupts are not entitled to redress from PPI complaints. Any such redress is a pre-bankruptcy asset which belongs to the Official Receiver for redistribution to your former creditors.

    Understand that the line under your old debts is drawn for both sides. Your creditors cannot pursue you, but neither can you pursue them. The passage of time since your bankruptcy is irrelevant.

    Only in the unlikely event that you took out a PPI policy after your bankruptcy would you stand any chance of making a successful PPI complaint.

    If you check the Bankruptcy Board of this forum, there is a "sticky thread" providing far more detail:
    http://forums.moneysavingexpert.com/showthread.php?t=3766585
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