Discharged Bankruptcy

Idontbuy

Hi
Sorry if it has been asked before but I have searched but cant find the answer.

The wife and I went Bankrupt 22 years ago, we were discharged after 10 years had the letters from the receivers moved on got a mortgage ect, we recently looked at reclaiming PPIs for Bank and Credit charges but the company we looked at refused to start the claim due to the Bankruptcy, is this correct?
Does it apply to all PPI companies?We checked our credit history and nothing shows on there as it was so long ago.
Many thanks Pete

Andybez38

Same thing happened to me. Would be interested know others experiences.

Insider101

Idontbuy wrote: »

Hi
Sorry if it has been asked before but I have searched but cant find the answer.

The wife and I went Bankrupt 22 years ago, we were discharged after 10 years had the letters from the receivers moved on got a mortgage ect, we recently looked at reclaiming PPIs for Bank and Credit charges but the company we looked at refused to start the claim due to the Bankruptcy, is this correct?
Does it apply to all PPI companies?We checked our credit history and nothing shows on there as it was so long ago.
Many thanks Pete

The reason most of them won't deal with you is because generally speaking, if you are offered redress in respect of PPI (or any other product) sold prior to your bankruptcy then the Official Receiver has an entitlement to the redress to to distribute to your creditors (NB if the redress is paid by a lender who had a claim in your bankruptcy then they have the first right to set off against the unpaid debt). This is not affected by your subsequent discharge from bankruptcy.

That said, if your bankruptcy was 22 years ago and you were discharged 10 years ago it is possible that the PPI may have been sold after your bankruptcy (many lenders are reluctant to lend to bankrupts, but in the early-mid 00s lending was pretty free and easy in some quarters). If this is the case then you are free to complain and keep any redress that may be offered. It may be that the CMCs are not aware of this. So who was your PPI with and when?

NB if you do have grounds for complaint do it yourself and don't use a company, they do nothing you can't.

dunstonh

but the company we looked at refused to start the claim due to the Bankruptcy, is this correct?

Well done on that company for doing the right thing. The CMC should not take on the complaint if they know you are unlikely to receive the redress.

Some people have found themselves not getting a penny but being hit with the bill from the CMC.

As Insider101 says, you can only complain about PPI sales made after you were discharged. Not those before. Before would be a pre-bankruptcy asset and does not belong to you.