We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Ppi reclaiming for divorced couple
Gill2013
Posts: 2 Newbie
I have a query that I hope someone can help me with.
I know of a couple who took out a £30,000 loan in their joint names. They subsequently split up and divorced and the male has declared himself bankrupt. Can the female reclaim all of the PPI or is she only entitled to half or indeed any at all? :huh:
I know of a couple who took out a £30,000 loan in their joint names. They subsequently split up and divorced and the male has declared himself bankrupt. Can the female reclaim all of the PPI or is she only entitled to half or indeed any at all? :huh:
0
Comments
-
You can both complain about the PPI if you have a valid mis-selling complaint. However, your husband won't receive anything personally (even if the complaint is upheld) as PPI redress is considered a pre-bankruptcy asset and goes to the Official Receiver for redistribution to his former creditors.I know of a couple who took out a £30,000 loan in their joint names. They subsequently split up and divorced and the male has declared himself bankrupt. Can the female reclaim all of the PPI or is she only entitled to half or indeed any at all? :huh:
If the loan was paid off without any amounts (interest etc) being written off then you will get half of any redress. If money is still owed on this debt then the Bank will likely off set the redress.0 -
Thanks for that. I wasnt asking for myself, I have never taken a loan out with my ex husband!!! I was asking for someone I know. I cant be doing with all this ppi stuff!!! :mad: May sound dumb (well i am blonde!!) but I take it you mean that if the ppi due back was for example £5000, would she only get half of that?0
-
Yes, as it was a joint account, she's only liable to receive half any redress, providing the account isn't in arrears, because if it is , it'll go towards that first.
She may also need her ex's signature to complain, it depends on the company.Non me fac calcitrare tuum culi0 -
It depends whether the loan is now paid off with no arrears or interest etc written off as a result of the bankruptcy. If there is still an outstanding debt then you are jointly responsible with your ex-husband and any and all redress can be offset by the Bank.I take it you mean that if the ppi due back was for example £5000, would she only get half of that?
http://www.moneysavingexpert.com/banking/setting-off0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards