PPI Claims after bankruptcy

DON79

debtinfo wrote: »

no you would not, have you read post number 1

no haven't yet read post 1 as Fermi kindly moved my post to here for me without my realising it until now.

DON79

Thanks for moving my post and for the reply Fermi, well since I already sent the form off, all I will do is if they do award me anything is speak with the OR then... But I guess they would like to see some return from my BR which is fair enough....

debt_doctor

fermi wrote: »

I'm afraid it still vests as an asset in your bankruptcy.

The point is that all rights to make a PPI claim and receive the refunds are treated in the same way as an actual asset that you had at the time of going BR. i.e. when you go BR all the rights to them pass to the OR/trustee.

Doesn't matter whether the account was part of the BR or not. Your right to the refund now originates from before the BR. As such, the second you went BR the right to receive that went to the OR/trustee. And it stays with them, even once yo are discharged.

NR are probably sending out these letters in bulk now after last years PPI ruling, without checking to see whether you have gone BR.

The problem is that if you make the claim and receive the money, then it's possible that the OR/trustee could come after you for it some time in the future.

A polite and informed response - unlike some.

DD

DON79

debt_doctor wrote: »

A polite and informed response - unlike some.

DD

What do you mean??

Chuckie1998

Just to confirm what other people has mentioned regarding PPI claims and BR.

I have had a PPI claim being investigated by the Financial Ombudsman for the last 2 years, from before my BR.

I went BR in November 2011.

Finally had a letter from the Ombudsman this week stating that my PPI claim had been agreed, and that the final agreed payment from Firstplus was £6577.

And in the same letter it highlighted the fact that Firstplus/Barclays had been in communication with the Official Receiver regarding my bankruptcy, and that my payment would go to the Official Receiver, and not myself. End of !!

Just for info, in case anyone is out there hoping for a PPI claim payout when going through bankruptcy.

sundays

I understand i cannot receive a PPi payment it goes to the OR.

However

If i asked for PPI on a loan that was repaid in full and was never part of my bankruptcy - how does that work esp if the award is when im AD- I paid it off in 2007.

The same applies for demonstrating and proving hardship for a repayments of intrest and charges on a overdraft that were made into a final charging order and part of the BR claim but could not be included.
If i could get that cleared or reduced or off set that would be wonderful.

fermi

It is the right of action to make the claim, and receive the funds that vests in the trustee.

Has nothing at all to do with whether the debt was one that was included in the bankrupt.

So the same applies. Any moneys received are not yours, and officially you have no right to bring the claim yourself.

sundays

So what does not vest in the trustee at AD, does the point vest mean is it anything i receive from my financial history and any compensation vests to the OR because of my BR, regardless of where that compensation comes from and for what purpose.

How does it work then if i came into money after my AD ie inherittance or a lottery win- wishing only.

im sorry im confused.

fermi

If the compensation is due from something before your BR, then yes.

Inheritance - Depends on the date the person dies. If before your discharge, then the OR can claim it. If after, then they can't.

Lottery wins after discharge are yours.

sundays

thanks . i understand now, not likley to get inheritance or lottery win etc and do no the rules re the death etc, but thought id lump them in so i fully understand for pre and past purposes..