Am I right to think you are never free of an IP or Trustee

Rrushi_Shqiptar

Hi all,

I have been reading old posts regarding trustees/IP's and their roles in regard to obtaining PPI claims during the persons BR.

I have read that they have in fact claimed money back from post bankrupts i.e 8 10 yrs down the line.

Does this mean that ANY form of compensation that is awarded for ANY reason pre dates a persons BR and therefore you are never free of these organisations/people. Therefore you can never claim compensation in regards to anything before the BR

Cobalt77

Yep. Think of BR as a financial rebirth. Everything which happened prior to your BR date is no longer any concern of yours, and is now the responsibility of the OR/Trustee/IP.

So, if you try to claim compensation (or are owed any money) relating to a period before your BR date, it does NOT belong to you. End of story.

It's the price we pay for having all those debts written off, I'm afraid.

Rrushi_Shqiptar

Cobalt77 wrote: »

Yep. Think of BR as a financial rebirth. Everything which happened prior to your BR date is no longer any concern of yours, and is now the responsibility of the OR/Trustee/IP.

So, if you try to claim compensation (or are owed any money) relating to a period before your BR date, it does NOT belong to you. End of story.

It's the price we pay for having all those debts written off, I'm afraid.

So what happens when all your debts are cleared and not written off?

Cobalt77

Rrushi_Shqiptar wrote: »

So what happens when all your debts are cleared and not written off?

In theory, you could get your BR annulled - as you would have fully repaid all your financial obligations. However, this rarely happens as the OR/IP/Trustees will whack on extortionate fees.

dojoman

Rrushi_Shqiptar wrote: »

So what happens when all your debts are cleared and not written off?

What exactly do you mean by "cleared" ?