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PPI and have been bankrupt
Seadogs_2010
Posts: 206 Forumite
Hi all
I would like some advice please on reclaiming PPI after bankruptcy.
My mother law was made bankrupt in 2003 as she had various unsecured loans because her partner at the time could not obtain credit for whatever reason, so she took loans out for him and in the end he could not pay the payments.
After leaving him she declared herself bankrupt.
Previous to meeting this man, she had loans that she took out and paid in full without any problems.
Can she try to claim back the PPI on the loans she took out before she got into trouble with the new ones or is this not possible after she was declared bankrupt?
Thank you very much for any help and advice
I would like some advice please on reclaiming PPI after bankruptcy.
My mother law was made bankrupt in 2003 as she had various unsecured loans because her partner at the time could not obtain credit for whatever reason, so she took loans out for him and in the end he could not pay the payments.
After leaving him she declared herself bankrupt.
Previous to meeting this man, she had loans that she took out and paid in full without any problems.
Can she try to claim back the PPI on the loans she took out before she got into trouble with the new ones or is this not possible after she was declared bankrupt?
Thank you very much for any help and advice
0
Comments
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The right of action vests in the OR, first post in this link explains it all:
https://forums.moneysavingexpert.com/discussion/34616290 -
Bankrupts will never receive anything personally from PPI complaints. Any redress, should it be awarded, would be paid to the Official Receiver for re-distribution to your Mother-In-Law's former creditors.Seadogs_2010 wrote: »Can she try to claim back the PPI on the loans she took out
A successful PPI complaint will be regarded in perpetuity as a pre-bankruptcy asset.0 -
Seadogs_2010 wrote: »Hi all
I would like some advice please on reclaiming PPI after bankruptcy.
My mother law was made bankrupt in 2003 as she had various unsecured loans because her partner at the time could not obtain credit for whatever reason, so she took loans out for him and in the end he could not pay the payments.
After leaving him she declared herself bankrupt.
Previous to meeting this man, she had loans that she took out and paid in full without any problems.
Can she try to claim back the PPI on the loans she took out before she got into trouble with the new ones or is this not possible after she was declared bankrupt?
Thank you very much for any help and advice
As per the below, the right of action is with the official receiver so she should discuss with the dealing office first. Also if she was to be awarded anything then the OR has the right to the funds as well. She would only get anything if her bankruptcy debts were repaid in full.0 -
Thank you for all the excellent advice everyone.
Very much appreciated0
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