Trust Deed/PPI advice

Beanie37

Hi there

Ive new here and posted in another forum for advice for my patner now some advice for me. My case a bit more complicated though

I have had loans and credit cards dating back to years ago and with several different places, citifinancial, halifax etc

I also know i had PPI but dont think it was properly explained to me as it didnt cover me for things I thought it did. I was told it would cover me for pretty much anything and it was a very good thing to take out.

I did start to struggle and undertook and successfully completed a Trust Deed from 2007 to 2010.

My question is it is my understanding that even if I was entitled to a PPI refund that the money would be took away from me anyways and given to the creditors/or the people that handled my Trust Deed case.

Is this right or am I wrong I would interested in pursuing it but not if the money will just be taken away from me in the long run.

Any thoughts or advice appreciated

dunstonh

My question is it is my understanding that even if I was entitled to a PPI refund that the money would be took away from me anyways and given to the creditors/or the people that handled my Trust Deed case.

Correct. It goes to them. Not you.

Debbie67

Hi there
It doesn't always go to your creditors. I was in the same position and had a protected trust deed from 2003 to 2006 and was discharged in 2008.
I have recently received ppi payments from Barclaycard (Providian Visa Card) and CitiFinancial, which came straight to me. The only company to say they will keep the money is RBS but once I hear back about all the loans from them then I will speak to the Ombudsman about this.
I spoke to my trustee initially and he said that he would not have any claim on any PPI refunds that I received as once the trust deed has been discharged then the companies cannot legally chase you for the debt which they agreed to write off.
This was a Scottish Protected Trust Deed but I think it is different for IVA's and Bankruptcy.

Hope this helps