PPI Claims after bankruptcy

TheGardener

I'm sure one of the experts will be along tomorrow (it can be quiet on here at weekend) However, from what I understand - you will not be allowed to keep any of it. In fact I don't think you are allowed to make the claim.

Beard4

Ah, I've already made the claim. I guess I need to contact IS tomorrow...

TheGardener

Probably best - I do hope I'm wrong - good luck

IF

TheGardener is right, please do read posts 1 and 2 of this thread.

debtinfo wrote: »

This means that not only do you not have the right to receive the monies from any claim but that you also do not have the right to make the claim, That right passed to the trustee and so it is the trustees right whether to take it forward or not, the claim now belongs to them.

As far as I last heard the Insolvency service is trialling using a solicitors firm to take batches of these claims forward en masse to the banks and therefore if you have already made the claim and pocketed the cash there is a good chance that the IS will at some point try and cash in the claim and therefore realise that you already have. At that point they will have the option of recovering it from you.

And do contact your OR tomorrow.

Best wishes
IF

Beard4

thanks for the advice. I will call and update this forum.

the only other question is, will the insolvency servicesright to claim the PPI ever expire? so the individual. Can claim?

philnicandevan

Beard4 wrote: »

thanks for the advice. I will call and update this forum.

the only other question is, will the insolvency servicesright to claim the PPI ever expire? so the individual. Can claim?

if you attempt to claim PPI on anything BEFORE your date of bankruptcy then the OR's claim will never expire....

Beard4

ok, but I'm talking about making a claim after being bankrupt. I was made bankrupt nearly six years ago. Will the right to claim ever pass to me or remain with the OS indefinitely ?

Flyright

You do not have any right to claim. It remains with the OR as an asset in your bankruptcy estate.

fermi

If it does vest with the OR/trustee it stays with them permanently.

kennedy316

Ok I think I know the answer but just want some clarification if possible.

Declared bankrupt in 2011 and the discharged November 2011. Recently I got a letter from RBS regarding loans that I used to have with NatWest and the chance that I may have been misold PPI. I had never thought about it and had therefore never filed a claim.

Anyhow I just filled in the form and returned it to them expecting they would likely find in my favour for a hundred quid if I was lucky. They have sent me an offer today for about £4500 which left me stunned as like I said I never chased this, they came to me directly.

I think that I have to just give this money to the insolvency service, is this right? Making it a little more complicated the compensation relates to a number of loans whereas the bankruptcy related to just the final loan.

By this I mean I had a loan with an account number. At some point I borrowed more money which amalgamated with the original loan into a new loan with a new account number. This process was repeated a couple more times and then when I was declared bankrupt it included just the final loan account number which was for the total sum of all the previous rolled over loans

The compensation was listed as being for all the loan numbers so where do I stand in this instance? I'm guessing that it doesn't make any difference and the insolvency people get the whole amount.

I've also read that if the bank should already know I am a discharged bankrupt and should have offered the money to the insolvency people directly rather than coming to me.

Any assistance in this matter would be greatly appreciated.

Also who do I contact first.....the bank to tell them I'm discharged bankrupt so they should deal with insolvency service direct or the insolvency people and get their advice?

Would it just be the same insolvency office? I've just found a letter from them stating that the trustee has been discharged from my case so is that still the person to speak to?

Sorry for all the questions.

Btw looking back at the forms I filed in to be declared bankrupt it us definately the last loan that was declared.

Is - loan 1 taken
Loan 1 + £x = loan 2
Loan 2 + £x = loan 3
Loan 3 + £x = loan 4 which was part of bankruptcy