PPI Claims after bankruptcy

antrobus

MJsouth wrote: »

Debt doctor, I had a loan that was opened, and finished before I was made bankrupt. I have now been discharged and have been offered a PPI settlement. Do I need to notify the trustee in this case?

Yes.

(S10CL)

Eatmeat

I was discharged from bankruptcy and asked the OR direct could I perhaps make a claim and split the money. They wrote back saying they were advising BIS that they no longer wished to have an interest in my estate and had issued a note to the land registry to say my house was mine again.

So, does this mean I can actually claim and keep my PPI. As the debts have effectively been written off (I had a statement of what they had collected and distributed) it would seem wrong that one creditor could set this refund against what they think I owe. As legally I don't owe anything.

debt_doctor

Eatmeat wrote: »

I was discharged from bankruptcy and asked the OR direct could I perhaps make a claim and split the money. They wrote back saying they were advising BIS that they no longer wished to have an interest in my estate and had issued a note to the land registry to say my house was mine again.

So, does this mean I can actually claim and keep my PPI. As the debts have effectively been written off (I had a statement of what they had collected and distributed) it would seem wrong that one creditor could set this refund against what they think I owe. As legally I don't owe anything.

I would think the OR were releasing themselves as trustee rather than declaring no interest in your estate? The property may have reverted back to you under the 'minimal equity' rules at the time.
Unless you have written specific evidence that the IS have disclaimed an interest in your PPI claim (and I have yet to see one) then I do not believe you have a right to make the claim.
You mentioned a creditor paying themselves or offsetting against their debt - that for me would be a remedy against the debt and unlawful - s351g springs to mind.

DD

Minz37

Can anyone advise if any loans etc that I paid off before I went Bankrupt would the OR still be entitled to it?

tigerfeet2006

Yes! anything from before BR becomes an asset within BR.

jellyjo

Hi I was discharged 8 years ago! Can I clarify that there is no time period as to when the asset become yours? Ie. any asset before br will always belong to or?
I sold my property before br and gave proceeds of sale to or, if I had ppi on the mortgage am I eligible to claim and keep proceeds? And are there any letter templates so I can apply to the bank directly rather than use a ppi company( fearful they may want to take commission )

Thank you

debt_doctor

Hi,

I'm afraid the right of action to make the claim will always belong to the OR, without time limit.
It is this that stops you ever making the claim.

DD

Billy_Liar

Wow, haven't been here for a while (discharged 2009). Hope anyone who might remember us is doing ok. Anyway, I know fine I'm not entitled to a brass farthing of a PPI claim. But I just got a letter from my old bank asking me to return a form to see if I'm entitled to anything. Do I have to let the insolvency service know about this? Or can I bin/shred it?

safestored4

Bin it. Banks are in the process of sending out millions of computer generated letters to everyone who has ever had PPI. This enables them to set the clock ticking on a cut off point for considering future mis-selling claims. The letters take no account of individual circumstances and from what you have said you have nothing to gain from responding.

Beard4

Hi, quick question. I think I know the answer....

I was declared bankrupt in may2008, so discharged in 2009, cleared the repayment plan in 2011. In may this yearmycredit file clears.

I suspect im about to be offered a ppi payout on my existing mortgage (taken out 2007), do I need to declare this? Given the timeline?

I suspect I do, however my mortgage was in negative equity at the point of bankrupcy and this payout is likely to be less than the value of the negative equity, so I hope I can use it to pay the mortgage down.

could someone out the clarify this for me, or point me in the direction?

Rgds
B