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PPI claim and bankruptcy
SVD
Posts: 1 Newbie
Joint second mortgage with PPI with First Plus about 10 years ago with wife at the time. We have since got divorced and following that she went bankrupt, which has now been discharged. I recently made a claim and today received a total settlement offer of over £16,000. That was the good news ! I was informed by first plus that it would be 50-50 with my ex wife and only if she signed to agree otherwise I will get nothing. My ex wife refuses to signed in fear of any prosecution with regards to her previous bankruptcy situation. Can you please advise because £8,000 is a lot of money to me to just lose. Many thanks.
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I was informed by first plus that it would be 50-50 with my ex wife and only if she signed to agree otherwise I will get nothing.
Settlements on joint plans are dispersed 50/50.My ex wife refuses to signed in fear of any prosecution with regards to her previous bankruptcy situation.
She cannot be prosecuted. What happens is that her share of the redress will be paid to her official receiver and distributed to the creditors. As long as she tells First plus she is a discharged bankrupt and ensures the money is paid to the OR then she has done her job.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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