PPI Claims after bankruptcy

dojoman

Have a look here:)

http://forums.moneysavingexpert.com/showthread.php?t=3766585

cashkid

grannyoftwo wrote: »

Great information up there Debtinfo, thank you.

I wonder if you could give me some advice also please?
We paid the final installment of our trust deed in May 2011 and are presently paying off the equity part, which will take us into November 2012.

All of the ppi's we had, were applied for by the trustee, without our knowledge, which I found a bit underhand. Out of the blue we were receiving letters from our formal creditors regarding the ppi refunds. Is this legal, that the trustee could apply for this money in our name and not tell us about it? One of the banks asked us to update our signature as it did not match the one in the letter they had received..............well it wouldnt would it, it was not our signatures.

This morning we received two letters from a bank, the third letter this week, offering us a total of almost £17,000 in refund of our hard earned ppi payments.
My problem with this is, that until the day we approached the trustee, we had struggled to pay all of our bills, and this included the ppi payments. They were sold to us and we took them in good faith, we struggled to pay them so why are we not allowed to even receive a percentage of this money?
No-one told us that should this ppi payment ever come about, that we would lose the lot to the trustee.
I mean really these banks are getting away with this all over again, because they sold us this wrongly in the first place and now for people like myself, despite admitting they were wrong, they are now getting this money back from us again.................just does not seem fair, right or legal in my opinion.

Many thanks

When I went bankrupt one the many forms I completed was a PPI form for the OR to chase up my mis-sold PPI.

Is it possible that you completed such a form but have forgotten, or maybe it wasn't explained to you at the time what would happen r.e. PPI?

DaisyDuke

fermi wrote: »

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.

Does this apply if you have an IPA in force or does that complicate the matter further?

debtinfo

im not sure what you mean

fermi

Related to the other thread they started?

DaisyDuke

debtinfo wrote: »

im not sure what you mean

I thought compensation for PPI would be classed as income therefore going to OR.

What wasn't clear is, if you are still paying an IPA and if you inherited from a death that occurred after discharge would you need to inform the OR and the same question would apply to a lottery win, if you won after discharge but still in an IPA would you keep all or some of the win.

I guess it depends on the definition of ASSET and INCOME if someone can perhaps explain that for me.

kepar

PPI would be classed as an asset before your bankruptcy so would go to the OR.

A lottery win or an inheritance post AD would be an asset and you would keep it even if you have an IPA. Unless the death was before AD when the money would go to the OR.

Income is what you earn or receive in benefits etc. But if you large windfall generated interest that would also would be classed as income and would have to be declared to the OR.

debtinfo

Well since you asked income is classed as

"..every payment in the nature of income which is from time to time made to him or to which he from time to time becomes entitled, including any payment in respect of the carrying on of any business or in respect of any office or employment..".

and an asset(property in insolvency speak) is defined as

includes money, goods, things in action, land and every description of property wherever situated and also obligations and every description of interest, whether present or future or vested or contingent, arising out of, or incidental to, property;

As well as this case law over the years has tested the interpretations,

but generaly, income is often (but not necessarily) regular payments and arrises from work done, or money due to you because of your circumstances (ie benefits) or because of the "work of assets" (such as interest)

Whereas assets are things that you already own, or are given or awarded to you in whole

so for instance

if your father gave you a lot of money then that would be an asset as it is being given to you in whole, but if he put that money into a trust which paid out regular installments then that would be an income.

if you inherit a house that is an asset, if you receive rent from that house (ie the asset is working) then that is an income

If you won the lottery that would be an asset, but if you won a competition that say gave you a £1000 pm for the rest of your life then that would probably be an income.

at the end of the day it is for the courts to decide and i can only really be certain about the ones that have been tried by courts over the many years of case law which is probably most of the things you can think of

corkfitz

Hi i was forced to make myself bankrupt in 2009.
however upto that point i held many credit cards and personal loans over the previous 10 yr period.
Is it possible to pursue these companys for re-imburshment of ppi?
I am sure that the credit had ppi on each and every one contributing to the debt crisis that caused me to seek bankruptcy.
any advice on this subject would be gratefully recieved

fermi

From back in January.

This email from the IS was forwarded to me by someone who made enquiries.

Thank you for your e-mail of 02 January 2012.

I note that contributors to the money saving forums web-site have contacted the Ministry of Justice regarding the unsolicited mail they have received from the company.

You are of course correct in what you say regarding the ability, or rather lack of it, of a former bankrupt to pursue claims for mis-selling, where the right to pursue the action has passed to their trustee in bankruptcy.

However, the letter, and indeed the information on the Simply PPI web-site, does not specifically refer to claims which would clearly be for the trustee in bankruptcy and not the individual to pursue.

I do note the speculation on the forum but this is not, at this stage, a matter in which The Insolvency Service can intervene without evidence that the firm is pursuing claims vested in trustees in bankruptcy without their knowledge or consent.

The correct bodies have been notified of possible breaches of authorisation and consumer protection by forum contributors. If you have any specific evidence of claims being improperly pursued I shall of course be pleased to pass the information to the appropriate trustees in bankruptcy.

I hope that this is of help. The Insolvency Service is constantly trying to improve the quality of its service, and therefore we would like to ask you to spare a few moments of your time to provide customer comments to the following e-mail address at [EMAIL="Secretariat.Section@insolvency.gsi.gov.uk"]Secretariat.Section@insolvency.gsi.gov.uk[/EMAIL].

Your opinions will help us to improve the service which we provide to you. May I thank you in advance for your co-operation.

Yours sincerely

Alan Hirst/ Insolvency Enquiry Line Manager / Technical Section /The Insolvency Service / [EMAIL="alan.hirst@insolvency.gsi.gov.uk"]alan.hirst@insolvency.gsi.gov.uk[/EMAIL] / 3rd Floor, Zone B, 21 Bloomsbury Street, London, WC1B 3SS / DX:120875 Bloomsbury 6DX / 0845 602 9848 / www.bis.gov.uk/insolvency.