PPI Reclaiming Discussion Part 5

ianj1959

All checked and validated by the Official Receiver and my Bankruptcy was DISCLOSED to all involved when making complaints including some I owed considerable sums to. The OR has been advised of all amounts received and verified them.

[Deleted User]

ianj1959 wrote: »

All checked and validated by the Official Receiver and my Bankruptcy was DISCLOSED to all involved when making complaints including some I owed considerable sums to. The OR has been advised of all amounts received and verified them.

Very odd that you received anything personally then, since legally you aren't entitled to the redress which should go to pay your former creditors.

ianj1959

well I did and I have and I think generalising in this context that a bankrupt is not entitled to the proceeds is misleading. I am not a Financial Services "virgin" and therefore spoke to both the OR and my Solicitor before making a claim.I then disclosed my bankruptcy in all complaint letters and if anyone had come back to me and said this will go to the OR I would have referred it to the OR.
Clearly EVERY bankruptcy case is different and there were complexities in mine relating to a divorce and other issues which led my legal adviser to ensure that there were caveats and protocols in my specific case which some may have and some may not have.
My advice would be simple with regard to bankrupts - approach the OR before claiming and put the scenario to them and ask them to put in writing what their position would be - if they lay claim to any proceeds and it helps them/you to claim do so even in the PPI mis-seller gains from it in the long run;if however they give you to confirmation that they will NOT seek refund of any assets due to discharge and some clause in the original OR case then GO FOR IT and merely respectfully tell them when you get anything back.

One other final point re the inane forms Lenders send to you....many of the questions they ask are frankly irrelevant - remember PPI mis-selling is exactly that the mis-selling happens AT THE POINT od sale...it is not admin or arrears mistakes it it all about how/what you were told/sold at the point of sale either via a website or a call centre operative or both and in my considered experience and knowledge from the inside the mis-selling was calculated and considered and therefore if you are asked a quation and dont know the answer or cant remember it - simply put "don tknow" or "cant remember"

[Deleted User]

ianj1959 wrote: »

well I did and I have and I think generalising in this context that a bankrupt is not entitled to the proceeds is misleading.

There is nothing "misleading" about this link direct from HM Government's Insolvency Service;
http://www.bis.gov.uk/insolvency/personal-insolvency/ppi-mis-selling-claims-and-bankruptcy

It categorically states

HM_GOVERNMENT__INSOLVENCY_SERVICE wrote:

A PPI mis-selling claim: a bankruptcy asset
Following provisions of the Insolvency Act 1986, The Insolvency Service takes the view that if a PPI policy was mis-sold before the date of an individual’s bankruptcy, any claim relating to the alleged mis-selling of the policy is owned by the official receiver or trustee of the bankruptcy estate, not the individual to whom the policy was sold.

Discharge from bankruptcy does not alter the position
Discharge from bankruptcy does not alter this position. Discharge does not operate to transfer unrealised assets, including PPI mis-selling claims, back to the individual.

ianj1959 wrote: »

Clearly EVERY bankruptcy case is different and there were complexities in mine relating to a divorce and other issues which led my legal adviser to ensure that there were caveats and protocols in my specific case which some may have and some may not have.

I've never heard of these "caveats and protocols", but it seems like you are receiving refunds of money you never actually paid.

only_mee

ianj1959 wrote: »

All checked and validated by the Official Receiver and my Bankruptcy was DISCLOSED to all involved when making complaints including some I owed considerable sums to. The OR has been advised of all amounts received and verified them.

A friend of mine has successfully claimed back from two companys, after they contacted her, about possible miss selling.

ianj1959

Clearly not but as I pointed out all bankruptcies are not generic and there may be some who can claim PPI legitimately and as I point out that the best course of action is to speak to your own OR before proceeding.

Because of Claims Companies I agree there will be many ex Bankrupts sat on PPI refunds who have not disclosed them but there seems to be no mass evidence at this point of those people being chased by the OR for refunds...

I am merely trying to point out to those that wish to seek PPI what the position is re my case including bankruptcy and feel it does this site no benefit to be pounced upon by some one who clearly monitors all traffic with some agenda to comment it seems on every individual case.

My message remains that whilst disclosure is key it is also a fact that those who feel they have been mis-sold should not give up and to that point it is interesting that you have no comment to make when an "insider" confirms that mis-selling was endemic

[Deleted User]

ianj1959 wrote: »

My message remains that whilst disclosure is key it is also a fact that those who feel they have been mis-sold should not give up and to that point it is interesting that you have no comment to make when an "insider" confirms that mis-selling was endemic

The millions of successful complainants are testament to the fact that there was widespread mis-selling, I don't often feel the need to re-state that on a forum dedicated to precisely that message.

Good luck with your other complaints still pending...

[Deleted User]

only_mee wrote: »

A friend of mine has successfully claimed back from two companys, after they contacted her, about possible miss selling.

If she is bankrupt and didn't disclose this when complaining you should direct her to the links I provided earlier, otherwise she could find herself in for a nasty shock from her Official Receiver in the near future.

only_mee

Yes she was and the OR knows about it all.
Same as ianj1959 it seems.

[Deleted User]

only_mee wrote: »

Same as ianj1959 it seems.

It seems...