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Trust Deed...claim PPI??
I was wondering what happens if someone had a trust deed which is now completed, can they try to reclaim PPI on the accounts? If they had successful claims would the cheques still come to them?
Appreciate your help guys!
Comments
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Post on the Bankruptcy board..0
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Ultimately if any money was written off as part of the process and the debts were not sold on, yes any PPI refund can be used against the debts in many cases
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Ultimately if any money was written off as part of the process and the debts were not sold on, yes any PPI refund can be used against the debts in many cases
It's not as clear cut as that in Scotland, which is why I recommended posting on the Bankruptcy board where more informed responses were given:
https://forums.moneysavingexpert.com/discussion/5504944
Bankrupts in the rest of the UK are not allowed to personally benefit from PPI in the first place and any redress awarded is classed as a pre-bankruptcy asset. Any such awards go straight to the Official Receiver.0 -
The posts on that link pretty much say that (quite rightly) the person who has been through the deed should not be able to make money when they didn't pay the money back in the first place. Any attempts to get around that are perverse.
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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