PPI / Bankruptcy

droiderm

I have read the sticky at the top, and I appreciate that the trustee can make the claim and should righfully receive the money.

I was just claifying the situation with some shares I had (they were from my employer and are locked in for 5 years from receipt, on a rolling basis) so during my IPA payments I cashed them and paid the OR when I could. I have around £300 left and approached my old trustee today to check how I should send the money. They responsed as they are now released from being a Trustee the shares belong to me. That's a nice bonus

I also asked the question regarding PPI. In regards my trustee (an accountancy firm) they are in some instances appointing a trustee to deal with the PPI claims. I have asked for confirmation of my situation. What happens if in my instance they aren't going to claim them?

The crazy thing about this is, most of any PPI claims they would make, would most likely be from creditors who were included in the bankruptcy. Therefore there would be admin/cost on both parts to pay the claim, which would ultimately return to the creditor (could be more or less than what they paid out for a PPI claim). It just seems like a waste of effort for the trustee.

Lets imagine the OR / released trustee tells me they are not going to claim? Does that leave me in a position to claim? I imagine it's a situation as the shares, it's an asset I had and still have, but they don't want it, so they gave it to me. I will try to put aside the morals going around in my head at the minute, as to whether the creditors who took a haircut should pay PPI on an account in bankruptcy.

Or is it the case that the only PPI claims that could be made would be accounts settled before date of Bankruptcy?

droiderm

bump anyone?

tigerfeet2006

You can't even make PPI claims on accounts settled before BR, they are an asset in your BR.

If the trusted doesn't want to claim you could always try to and get the trustee to agree you make the claim and you split the proceeds 60/40 or what ever in your favour. Obviously get it in writing.

But obviously you are not entitled to claim so the trustee may say no.