how much to expect approx ?

jdmcf

hello guys, this is my first official post but i have used the site lots in the past to help me with any issues i had.

my question is - is their a rough estimate on how to know if what barclays are offering me is correct , theyve accepted my claim and im in the "will be resolved within 8 weeks" stage.

i had a £25k loan that had ppi on it , i was paying back just shy of £800 per month (think the actual payment was £798 per month)
i paid this off over 3 years from 2008 - 2011.

During the time of this loan i also had a £5k overdraft with them which had ppi on it. i would pretty much use the overdraft every month but pay it off before the end of the month again for 3 years from 2008-2011.


ive heard some people getting strange offers and accepting them not knowing if its right, i just wanna make sure i get back everything i paid.

thanks in advance

corky2

What I did was to go through six years of statements, highlighting each PPI charge and then adding on 8% interest for each charge using the calculator on this site. So I'm sorry, if you want to know if the calculation is right you going to have to roll up your sleeves and get the highlighter out!

jdmcf

thanks for the reply, unfortunately i literally have no paperwork at all and was surprised to get the claim in place and agreed over the phone.

not long after the loan was finished my business collapsed and within a couple of months i was bankrupt (discharged now)

all my paperwork was in the business premises which i was locked out from when i was unable to pay the rent for the second month, they refused to give me any paperwork back unless i paid the several thousands of pounds owed, i was told all my paperwork was taken to the incinerator and any tools , equiptment and office furniture was sold towards what i owed in rent.

[Deleted User]

jdmcf wrote: »

not long after the loan was finished my business collapsed and within a couple of months i was bankrupt (discharged now)

Barclays may well have "accepted" your complaint, but do you realise that even if your complaint is successful any redress awarded would be deemed an asset which would go to the Official Receiver? It doesn't matter if you are "discharged", if this loan is from a period prior to your bankruptcy you are not entitled to any monies which rightfully belong to your unpaid creditors.

jdmcf

Moneyineptitude wrote: »

Barclays may well have "accepted" your complaint, but do you realise that even if your complaint is successful any redress awarded would be deemed an asset which would go to the Official Receiver? It doesn't matter if you are "discharged", if this loan is from a period prior to your bankruptcy you are not entitled to any monies which rightfully belong to your unpaid creditors.

are you 100% certain because my solicitor , my accountant and an independent advisor have all said once discharged any earnings i make are mine, they even argued i could put to them that had i not been missold the ppi then my business might not have went under as the funds being taken each month could have acted as a bit of a safety cushion to fall back on.

if you are 100% sure please advise me of the legislation saying so. Without going into the ins and outs i spoke with the official receiver and said if i give my business a second go and its successful do i need to contact you , they pretty much replied saying even if you are making a million a week we dont need to hear from your further,

[Deleted User]

jdmcf wrote: »

are you 100% certain because my solicitor , my accountant and an independent advisor have all said once discharged any earnings i make are mine,

They are correct. Any "earnings" you make are your own AFTER you are discharged.
Unfortunately, the circumstances of this complaint are that you are trying to retrieve monies from PRIOR to your bankruptcy to which you are not entitled.

jdmcf wrote: »

if you are 100% sure please advise me of the legislation saying so.

I believe its the Insolvency Act you need to research. However, I'm not a lawyer (and don't pretend to be). I'm sure the Banks "full and final" rejection in a few weeks will detail the exact clause.

jdmcf

thanks for the advice i shall pass the info on to my solicitor contact the official receiver next week and advise i mght have some money coming in

i will post with an update , in the meantime if anyone can suggest a ball park figure as per my original question least ill be able to tell the official receiver the amount im getting might be between say £1k - £1.5k etc.

out of interest i wonder how it would work if i sold a kidney , technically if im selling it then it is an asset and i was in possession prior to the bankruptcy,

or even say knowledge, the knowledge i have in my sector is top level so technically that too would be an asset that id be using to make money that i had prior to being made BR.

[Deleted User]

jdmcf wrote: »

out of interest i wonder how it would work if i sold a kidney , technically if im selling it then it is an asset and i was in possession prior to the bankruptcy,

That would only apply if you were selling the kidney in the condition it was in BEFORE your bankruptcy!:p

debtinfo

Hi JDMCF

Here is the Official Press release on the subject of PPI reclaims from the Insolvency Service

http://www.bis.gov.uk/insolvency/news/news-stories/2012/Apr/PPI-mis-selling-claims-and-bankruptcy

Here also is my explanation of why PPI reclaims are assets in your bankruptcy that i wrote some time ago

https://forums.moneysavingexpert.com/discussion/3766585

What you should do now is ring your OR and tell them about the claim

Also here is a link to the Insolvency Act 1986 Section 436 which gives the definition of "property" in the bankruptcy

http://www.legislation.gov.uk/ukpga/1986/45/section/436