PPI Claims after bankruptcy

Papasmurf_64

If it wasn't mine then why did I pay for it when I had the loans which was all paid off in full

fermi

When you went bankrupt the legal right to any assets or rights of action such as PPI claims passed to the OR/trustee and are no longer yours.

That even includes any claimable PPI from accounts that were closed before you went BR.

http://webarchive.nationalarchives.gov.uk/20140528044448/http://bis.gov.uk/insolvency/personal-insolvency/ppi-mis-selling-claims-and-bankruptcy

JCS1

Papasmurf_64 wrote: »

If it wasn't mine then why did I pay for it when I had the loans which was all paid off in full

When you went bankrupt, the right to take action became vested in the OR. Whilst you may have paid the money in the first place, you had no right to the refund.

This applies whether there was any amount included in your bankruptcy or if it was paid in full before.

Papasmurf_64

Obviously some people dnt suffer from depression and anxiety caused from a marriage breakdown loss off there home car and job and then when you think there is a chance to get bk to the rat race and get a life bk you loose what hope there is yeh I owe creditors a few thousand but what is that compaired to the millions they make ... Yeh I no if everybody was like that the companies wouldn't have millions but to be punished over and over again ... This country can give millions if not billions to other countries to help out how about given people of this country a chance to start again

tomtontom

Papasmurf_64 wrote: »

Obviously some people dnt suffer from depression and anxiety caused from a marriage breakdown loss off there home car and job and then when you think there is a chance to get bk to the rat race and get a life bk you loose what hope there is yeh I owe creditors a few thousand but what is that compaired to the millions they make ... Yeh I no if everybody was like that the companies wouldn't have millions but to be punished over and over again ... This country can give millions if not billions to other countries to help out how about given people of this country a chance to start again

When you went BR you (hopefully) understood that you were giving up any claim on your assets at that point - you were given a clean slate. What happens to anything you might have had before that point is no longer relevant to you. If you are still struggling with budgeting perhaps you could post your SOA on here or the Debtfree Wannabe board? People will be happy to help you make the most of your money.

Papasmurf_64

It's not a clean slate though is it if u still owe the creditors and will do either untill u repay everything or until your death what I dnt understand either is how can anybody get credit after bankruptcy and can claim ppi bk with interest ... Bk to front if you ask me also if you owe say £20000 and you get bk that amount you still won't be debt free cus you have to pay the OR £1550 for paying them ... Either way I loose ... No justice

tomtontom

Papasmurf_64 wrote: »

It's not a clean slate though is it if u still owe the creditors and will do either untill u repay everything or until your death what I dnt understand either is how can anybody get credit after bankruptcy and can claim ppi bk with interest ... Bk to front if you ask me also if you owe say £20000 and you get bk that amount you still won't be debt free cus you have to pay the OR £1550 for paying them ... Either way I loose ... No justice

You misunderstand - you do not owe anything to your creditors. You cannot reclaim PPI because that 'asset' ceased to be yours when you went bankrupt, at the same time your debts ceased to be yours. You cannot lose one without the other.

You need to put everything pre BR behind you, it has all been cancelled out.

Papasmurf_64

I've spoken to my or and he's informed me il owe the creditors till I either pay it off or I die this is why I'm so angry if I had known that and also I still got to pay the or a further £1550 I wouldn't have botherd with going bankrupt hr wnt even let me have part ov ppi so I can get bm to work and bk to normality

alastairq

WHilst I appreciate that the wood cannot be seen for the trees, especially where a depressive state is concerned, the simplest way of looking at Bankruptcy is, the petition wipes the slate clean.

We have all been through divorces, had businesses collapse, sustained life-changing injuries or illness....the list of 'catastrophes is endless.

For the majority of us on here, bankruptcy has allowed a 'new beginning'...without the millstones of debt hanging around our necks.

The BR petition itself puts our financial pasts behind us.

But, we, ourselves, also have to do the same.

I appreciate the poster is upset at the apparent loss of such a windfall [which was never,legally , theirs anyway]....who wouldn't be?

But that is simply one of the rules of Bankruptcy.


We all have to move forwards now......?

Edit....just be thankful that no search or recovery fees were incurred? {as will have happened to those others who engaged companies to claim on their behalf? With the compensation going to the Receiver...the fees are payable by the persons claiming, ie the Bankrupt [who, should not have claimed in the first place?]

Now, that would have added insult-to-injury?

hollieollo

Hi,
My case is a bit more complicated. I started a business. I was already a HSBC personal customer. As my business grew. they set up a business account. Eventually they offered me a loan of £25000 to help grow the business. It was in my personal name. After a year or so (I cannot remember) they told me that I had to make the loan in the name of the business, i.e. Me T/as.
Eventually I made the company a limited company, but they would not lend to that (For obvious reasons) so they renewed the loan again. Each time it was £25000.
The business eventually went bust and was wound up. I had a personal account, business account and credit card with HSBC. They were all eventually written off by the bank as I was destitute. I never declared personal bankruptcy.
I never made any PPI claims because I did not pay off the loan. Though as I say, it was written off along with the other accounts.
I recently received a letter from HSBC inviting me to claim for PPI because they had resurrected the original documents and because of the court case the banks lost last year, they were contacting me to ask if I wanted to make a complaint.
I filled in the pro forma and received a letter back two weeks ago saying that they had decided to send my complaint to their complaints division for assessment.
My question is this:-
Should they decide that the PPI was unfairly sold, (which it was because I did not know I had it. Moreover I was effectively self employed so it would not have applied in any case), will I receive the payment or will they try to offset it against the debts that they wrote off years ago?