PPI Claims after bankruptcy

Contracts_Engineer

i am confused and seriously worried by these posts.

if your bankruptcy has ended / you have been officially discharged, why would the OR be interested in the money? your bankruptcy has ended?

are you still tied to them for a certain amount of time?

Contracts_Engineer

just read your link. ignore my post above.

quick question though, how about a DRO?

AdamH87_2

Hi all im new to the forum but there's a lot of helpful info available from why I've read so far. I'm a little stuck with claiming ppi for my mother who went bankrupt and is now discharged. Any help would be great.

Ok so I put in claims to claim ppi from banks loans dating back around 10 years. Received a standard reply from mbna which pretty much said no we don't owe you and closed her complaint. Thee second was with first direct who have made an offer of around £4000 minus £3900 she owed them when she went bankrupt, leaving the £100 pound as there final offer. So looking through the board I understand the bank can do this, fair enough. What I'm stuck with is my mother think the premiums should amount to a lot more than £4000 so what do I do now? can I do anything? Reading other material I saw I could send an SAR? Is this the logical action to take so I can add up the premiums for myself.

One last thing that confused me in a post at the beginning of this thread. It said it was the OR's right to be persuing money from ppi and that I shouldnt be claiming. In the first direct instance the bank are retainig the money they are owed and what's left goes to my mother is this above board

Thanks for your time

Adam

JCS1

The right to take action to reclaim PPI vests with the OR, even if the bankruptcy ended many years ago.

Whilst the bank can offset the PPI against their debt which has been written off, any funds after that do not belong to your mother but should go to the OR.

debtinfo

AdamH87 wrote: »

Hi all im new to the forum but there's a lot of helpful info available from why I've read so far. I'm a little stuck with claiming ppi for my mother who went bankrupt and is now discharged. Any help would be great.

Ok so I put in claims to claim ppi from banks loans dating back around 10 years. Received a standard reply from mbna which pretty much said no we don't owe you and closed her complaint. Thee second was with first direct who have made an offer of around £4000 minus £3900 she owed them when she went bankrupt, leaving the £100 pound as there final offer. So looking through the board I understand the bank can do this, fair enough. What I'm stuck with is my mother think the premiums should amount to a lot more than £4000 so what do I do now? can I do anything? Reading other material I saw I could send an SAR? Is this the logical action to take so I can add up the premiums for myself.

One last thing that confused me in a post at the beginning of this thread. It said it was the OR's right to be persuing money from ppi and that I shouldnt be claiming. In the first direct instance the bank are retainig the money they are owed and what's left goes to my mother is this above board

Thanks for your time

Adam

It is very simple, she should not continue with any claim or start any new ones. If she has been misssold PPI, she should inform her OR and give them any relevent details

marc3

Pretty clear then that as an discharged bankrupt-not worthwhile me making any claims (in fact-i did reveal at time of BR that the OR may wish to pursue claims )

However-in the case of joint loans/claims-i think i understand that whilst i am not entitled to anything;my wife is entitled to 50%-but in the case of a joint claim-who makes the claim ?

Can my wife still make the claim -as long as i pass over 50% of any money to the OR upon receipt ?

(dangerous to assume-but i am sort of assuming that my wife can make a claim on a car loan solely in her name as she was not ever BR )

tigerfeet2006

Assume away, if the loan was nothing to do with you and you weren't on the paperwork then as a non-BR your DW is perfectly within her rights to reclaim her own PPI.

Lally

Hi folks

I did PPI letters for my brother who defaulted on his loans, was declared bankrupt, and was discharged in Jan 2012. We're in Scotland.

Got an offer from Lloyds - c £16k. £12k cheque sent with no explanation. Cashed it, asked for remainder and reasons, no reply so went to FOS.

Offer from RBS - c£1,200. Cheque for £400 sent along with letter saying some had been allocated to his loan account and his monthly payment had been altered. Except, he doesn't pay any loan amounts any more?

Does anyone know the procedure for bankrupts? Perhaps this is why Lloyds didn't give him the full amount?

JCS1

Lally wrote: »

Hi folks

I did PPI letters for my brother who defaulted on his loans, was declared bankrupt, and was discharged in Jan 2012. We're in Scotland.

Got an offer from Lloyds - c £16k. £12k cheque sent with no explanation. Cashed it, asked for remainder and reasons, no reply so went to FOS.

Offer from RBS - c£1,200. Cheque for £400 sent along with letter saying some had been allocated to his loan account and his monthly payment had been altered. Except, he doesn't pay any loan amounts any more?

Does anyone know the procedure for bankrupts? Perhaps this is why Lloyds didn't give him the full amount?

If there was a balance that was written off in his bankruptcy, then the bank can offset any PPI refund against that before refunding.

Not sure on the system in Scotland, but in England & Wales the right to claim PPI vests in the OR and the person who was bankruptcy shouldn't be claiming (and if when the OR finds out, they will want the money). Might be worth checking the system in Scotland.

1nosh

Hi,

I was declared bankrupt back in June 2005 and discharged 8 months later. I am aware that I am not entitled to claim PPI for any of my cards and loans that were included in my bankruptcy but, could I claim PPI on loans and cards that were settled and paid off way before (years) my bankruptcy or not?

I desperately need advice. Many thanks