RBS PPI Refund & Trust Deed

[Deleted User]

SCOTSMANJIM3232 wrote: »

.all i was saying was surely any investigation should have seen yes you had ppi and no you wont receive it due to this..in this instance trust deed.

I'm certain if you had referred any PPI complaint through the people who administered your Trust Deed, then you would have been made fully aware of the consequences (indeed, folly) of your actions.

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SCOTSMANJIM3232

considering it ended 9 yrs ago would have been difficult.

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[Deleted User]

SCOTSMANJIM3232 wrote: »

considering it ended 9 yrs ago would have been difficult

Why would it be "difficult" to contact them, even nine years on?

There is plenty of free advice about such things on forums like this as well as organisations like the Citizen's Advice Bureau.

Banks will only ever look after their own interests, this is something Bankrupts should know only too well.
No one, bankrupt or otherwise, should use a claims handler because they do very little and charge a lot.

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SCOTSMANJIM3232

I think whats striking about your posts is u seem to be defending the banks here and lets be brutally honest the banks have been found massively guilty of a fraud which is widescale and are paying the price if you were the victim irrespective how this or that turned out you would want something in return no?

[Deleted User]

Moneyineptitude wrote: »

Banks will only ever look after their own interests,

SCOTSMANJIM3232 wrote: »

u seem to be defending the banks here

You think me telling you that Banks only look after their own interests is defending them? :eek:
Regardless, I'm not aware of any financial institution being found guilty of "fraud" at all. There was widespread mis-selling, but no illegality I'm afraid.

You made the mistake of employing a Claim firm at all. Doubly so because you were bankrupt.

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SCOTSMANJIM3232

Regardless, i received a cheque for £1776 yesterday.

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dunstonh

The problem of whether you should get it or not is partly as in England & Wales, it has been clearly defined that you should not get it after bankruptcy as it is classed as a pre-bankruptcy asset. In Scotland, its a gray area as the Trust Deed is different and it has not been officially stated what the position is. Some people find they get it and some people find they do not.

The regulator allows lenders to offset PPI redress against arrears, defaults and amounts written off as long as the debt was not sold to a third party and cannot be reclaimed from that third party. Agreeing a reduced settlement of the debt does not remove the fact the lender did not get their money.

Some lenders don't have very good record keeping and are not able to tell if the debt was repaid or not or that a trust deed/bankruptcy existed. We have seen people warned that they will not get the money. Shown them the Govt site that they will not get the money but they go on to get it. Some banks have been going back over old payouts to check the bankruptcy register and informing the OR of the payouts. Something a discharged bankrupt should do. This has led to people being chased some years after the event.

So, it is difficult to predict an outcome in Scotland. Technically, you should work on the assumption you wont get it but if you do then be happy.

Also, you should under no circumstances use a claims company where you have had arrears, defaults, amounts written off, bankruptcy or any other form of debt reduction/settlement. Claims companies bill on the full amount whether it comes to you or whether it is paid to the OR or offset against debt.