PPI and Bankruptcy

National_Debtline

dadoandrew wrote: »

Hi I am very interested in your comments, I finished a trust deed and my wife is a discharged bankrupt. It is 6 years since commencement this October. But I have had a lot of conflicting information. Ranging from go for it and reclaim, to no chance mate the iva people will take it all off you!!
Good for you getting your money though. I wish that I could get some one to one in person advice and help with the credit rating stuff.

Hello there,

My understanding is that if both you and the trustee are discharged from the trust deed you would be entitled to keep any money from a PPI reclaim. This is not the same as bankruptcy, however, where the right to recover the money would vest with the trustee forever.

Best wishes,

David @ National Debtline.

-taff

Moneyineptitude wrote: »

I'm now totally confused as to your point?

You quoted me, then told them to go to the banruptcy board to the post that has the sticky detailing why a banrkrupt is unable to complain about the sake of PPI post banruptcy if it was a pre-banruptcy asset.

I was actually telling them to post on the bankruptcy board for more information because they asked for more information, not specifically about PPI.

dadoandrew

National_Debtline wrote: »

Hello there,

My understanding is that if both you and the trustee are discharged from the trust deed you would be entitled to keep any money from a PPI reclaim. This is not the same as bankruptcy, however, where the right to recover the money would vest with the trustee forever.

Best wishes,

David @ National Debtline.

Ok this whole thing is complex. I understand that the bankrupt part of my debt is unreclaimable.( new word). However as I was only in a trust deed, and would theoretically be able to make a claim for any ppi that I may have. How would I make sure that I did in fact receive my share and only my wife's share, as it was her that was made bankrupt would go to the trustee? help please.

-taff

Just inform whoever it is you're complaining to.

confusedscot

Thank you very much for all this information I really do appreciate it. I understand and accept that my creditors should get any money due to them but I do not agree that the accountant in bankruptcy should just keep the money .would this mean that the sequestration would have to be reopened? If so how would this work and what consequences does this hold? I have never not disclosed the sequestration toany of the firms that gave me money backand as I was told that the AIB had no interest in them so I do not think that I have done anything wrong

roonaldo

confusedscot wrote: »

I understand and accept that my creditors should get any money due to them but I do not agree that the accountant in bankruptcy should just keep the money .

But its not your money, its not for you to decide as you have been bankrupt and cannot benefit from this. Only if your creditors have been paid off in full would you see the money, but thats for the accountant to decide not you.

would this mean that the sequestration would have to be reopened?

Is there still creditors then? You need to speak to the accountant. Get them to confirm in writing that they have no interest anymore if this is the case, then provide that to FOS.

confusedscot

I already had notice that they weren't interested in writing and I gave this to the FOS but they have apparently now changed their mind

only_mee

I posted this before, my friend claimed after bankruptcy and kept it all.

roonaldo

only_mee wrote: »

I posted this before, my friend claimed after bankruptcy and kept it all.

which is the incorrect thing to do and if the insolvency practitioner found out they will have every right to try and recoup it.

only_mee

Yes, that has been said, but she still has had no contact at all.