Potential PPI payment (discharged trust deed)

883508

Hi looking for an answer if poss please.
I signed my trust deed in Sep 2011 and was discharged in Jan 2015 but my trustee has not been discharged from the creditors yet due to ppi investigations.
Anyway I received a letter from lloyds yesterday explaining they were reviewing a ppi claim I made in 2009 for an £8000 loan I took out in 2005 which was paid off in full..My claim back then was rejected.

My question(s) is will lloyds pay any potential payout direct to me,pay it to my trustee,will they know if I was even in a trust deed and if lloyds pay it to me,will my trustee ever find out that they did??

As I am discharged I have no contact with my trustee any more.

Cheers

dunstonh

In England, being a bankrupt, the rules are quite clear. You don't get to keep the PPI redress. It goes to the official receiver and they distribute the funds to the creditors that went unpaid. In Scotland, there has been no clear ruling on Trust Deeds. Some lenders are using the right of set off (using the redress to go against the debt you failed to pay with them). Some are not.

However, there was a court case in July 2015 where an ex-trustee sought permission from the courts to reopen the trust deed so they could collect the proceeds from the PPI refund that had been paid to the individual to claw it off them to pay to the creditors. The court ruled in their favour. So, you may find your ex trustee coming after you for the money.

883508

Thing is i never did owe any money to Lloyds so im just wondering if theres a data base type thing that trustees can view to see if i had a successful ppi claim from an account that was never included in my trust deed as like this one.
I mean,do trustees contact all lending institutions to see if i had a ppi claim?
I wouldnt think so no?

dunstonh

883508 wrote: »

Thing is i never did owe any money to Lloyds so im just wondering if theres a data base type thing that trustees can view to see if i had a successful ppi claim from an account that was never included in my trust deed as like this one.
I mean,do trustees contact all lending institutions to see if i had a ppi claim?
I wouldnt think so no?

Anyone who you owed money to should have been dealt with by the trustee. The bank should be aware you were subject to a trust deed. So, they may automatically check with the trustee or more likely just notify the trustee to leave it in the hands of the trustee.

Insider101

883508 wrote: »

Thing is i never did owe any money to Lloyds so im just wondering if theres a data base type thing that trustees can view to see if i had a successful ppi claim from an account that was never included in my trust deed as like this one.
I mean,do trustees contact all lending institutions to see if i had a ppi claim?
I wouldnt think so no?

No, but the lending institution will likely check to see whether you have been subject to insolvency proceedings (if you didn't owe them money then they won't have it on their records, however, there are publicly accessible records such as The Gazette). If they are aware then they will likely notify the trustee and leave it up to them if they wish to claim an interest.