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RBS PPI and offset
Curiositymoney
Posts: 11 Forumite
Hello all,
I'm a new poster to the forum but have crept anonymously for a few years.
I know there is a lot of posts about PPI offsets, particularly when people have previously been declared insolvent etc, whether it be on a Trust Deed/IVA but I noticed an interesting post on Ombudsman Decisions.
ombudsman-decisions.org.uk/viewPDF.aspx?FileID=49108
Admittedly I have had a claim upheld with RBS going back to 2002 for MPPI, I am currently awaiting the payment. However I was in a Trust Deed for period 2006-2009 and there was RBS debt included. I did what I could and managed to pay back 33p in the £.
The wording of the Trust Deed states that debt written off on completion of the Trust Deed, so it will be interesting to see what happens. Bear in mind that the claim is in respect of MPPI and not PPI on a loan or credit card that was included within Trust Deed.
Reading the Ombudsman decision above it would appear that RBS would not be able to offset against loans/CC covered under the Trust Deed. Also the mortgage was still held during the Trust Deed period and continues to do so, without any arrears, I would class that as not intrinsically linked to the CC/loans.
Perhaps I am rambling on but just wondered what others thought regarding the Ombudsman Decision. Also please do not criticise me for submitting a claim when I had debt written off under a Trust Deed.
Thanks
I'm a new poster to the forum but have crept anonymously for a few years.
I know there is a lot of posts about PPI offsets, particularly when people have previously been declared insolvent etc, whether it be on a Trust Deed/IVA but I noticed an interesting post on Ombudsman Decisions.
ombudsman-decisions.org.uk/viewPDF.aspx?FileID=49108
Admittedly I have had a claim upheld with RBS going back to 2002 for MPPI, I am currently awaiting the payment. However I was in a Trust Deed for period 2006-2009 and there was RBS debt included. I did what I could and managed to pay back 33p in the £.
The wording of the Trust Deed states that debt written off on completion of the Trust Deed, so it will be interesting to see what happens. Bear in mind that the claim is in respect of MPPI and not PPI on a loan or credit card that was included within Trust Deed.
Reading the Ombudsman decision above it would appear that RBS would not be able to offset against loans/CC covered under the Trust Deed. Also the mortgage was still held during the Trust Deed period and continues to do so, without any arrears, I would class that as not intrinsically linked to the CC/loans.
Perhaps I am rambling on but just wondered what others thought regarding the Ombudsman Decision. Also please do not criticise me for submitting a claim when I had debt written off under a Trust Deed.
Thanks
0
Comments
-
Hello there,
Not very familiar with trust deeds but I can tell you my own experience of an IVA - mine ran the full 5 years & completed in 2011. In 2013 I successfully reclaimed credit card charges & PPI from one of my accounts that was in the IVA, Natwest - a cheque was sent in the post.
Not been on here for a while but it used to be the case you would see some people receive the money via cheque & some who would find that the provider would retain. Not sure what the current trend is.
Hope everything goes well for you anyway.0 -
An IVA is not a Trust Deed which is more akin to bankruptcy.0
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