PPI and RBS

in IVA & DRO
5 replies 2.1K views
Hi,

I'm new here and been searching to see if anyone has received a letter from RBS (or any other bank) relating to the Green v Wright case?

I received a letter last week from RBS stating that they are awaiting the appeal before settling to either the Supervisor or the Customer. The letter also states that if the Supervisor agrees that the funds should be given to the Customer then RBS will honour this and pay the PPI to the customer before the appeal.

I have contacted my Supervisor (ClearDebt Ltd) but have yet to receive a response regarding their position.

Has anyone else received anything similar and had any luck with their Supervisor?

Thanks, Simon

Replies

  • Has your IVA finished?

    Have you received your completion certificate?
  • Yes, IVA settled 2 years ago and I have the completion certificate.
  • I cannot speak for Cleardebt, but I do seem to remember a post from David Mond, CEO of Cleardebt, on another forum which indicated that although they were happy to issue cc's where a debtor had complied with their obligations, their own view was that PPI was due to the supervisor even after a completion certificate had been issued

    Clearly, if the legal verdict contradicts that stance then I am sure that Cleardebt, as a reputable firm, will comply with the judgement handed down.

    I would imagine, though, that the issuing of cc's would then immediately cease for all clients still in an IVA, whether with Cleardebt or any other firms. If a cc has not been issued then my own understanding of this is that the legal case then holds no water at all.

    Some people would be pleased with such a position as it would mean that they would get any PPI payout (assuming the creditor(s) involved does not offset), but I fear many many more will curse their own ill fortune as it will mean that they then cannot move on until the PPI issue on each case is settled.
  • DorisTrousers

    Leading to a potential new case regarding lengthy completion times due to PPI?

    Any possibility of the case ruling Green v Wright covering this prudent part?
  • An individual could potentially bring a case against lengthy completion times I guess, but I fear that may be doomed to failure.

    Only a personal opinion, but IP's will not waste money challenging any upcoming decision, they will simply not issue certificates in cases where PPI is ongoing. They will also argue that they have a legal duty as supervisor to obtain the best return for creditors, which they do, and as IVA legislation does not specifically cover PPI they would not be able to perform their duty if forced to issue cc's.

    I'm no lawyer, but I don't think Green V Wright can cover the prudent part, as you put it, as that is not the issue before the court.
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