Will I be bankrupt forever?

Minkym00

The OR limits payments to claims management companies to 10% income VAT. See here:

https://www.insolvencydirect.bis.gov.uk/technicalmanual/Ch25-36/Chapter31/part9A/Part%202/Part%202.htm

So Allay is likely to come to you for the other 14% you owe them. The link re Allay that was posted the other day will tell you that you need only have clicked a couple of links to give your authority to them to claim on your behalf.

iammumtoone

I am sorry I don't see your logic.

You went bankrupt (I am sure that wasn't a pleasant experience) but at the end of it, it meant you were in a better situation and no longer had to pay your debts. Put another, very simplistic way you got x amount given to you to pay off what you owed.

Those who got PPI payments had paid off all their debts and again put very simplistically got money given back to them.

The only difference is they get to keep the money, you didn't but in effect you both got 'some money' back.

You can't change what happens in life. I never got to make any PPI claims as I never took out loans I saved for everything first which was very sensible at the time but looking back maybe I should have taken out the loans I could have afforded to pay them back, got my purchases much earlier, and would have had a nice windfall in later years.

Mouse007

Minkym00 wrote: »

The OR limits payments to claims management companies to 10% income VAT. See here:

https://www.insolvencydirect.bis.gov.uk/technicalmanual/Ch25-36/Chapter31/part9A/Part%202/Part%202.htm

So Allay is likely to come to you for the other 14% you owe them. The link re Allay that was posted the other day will tell you that you need only have clicked a couple of links to give your authority to them to claim on your behalf.

Useful link but on close reading my take is that any such payment by the OR would not be applicable here.

The OP instructed a CMC well after bankruptcy, not before.

I read 31.9A.41 as following on from 31.9A.38 et seq which suggests to me the OR will only consider a part payment if the CMC had been instructed before bankruptcy and has already processed a claim to the point that compensation is payable.

Even then they are not bound to make any such payment and presumably any unpaid amounts would leave the CMC as another creditor in the bankrupt’s estate.

What we are dealing with here is a post bankruptcy “contract” which results in a fee being owed which can not be included, by definition, in the original bankruptcy or payable by the OR.

We have a “contract” to which the OR is not a party (they never agreed to it and so can not be bound by it) but who is entitled to the entire PPI payment without deduction.

We have a suspicious CMC who are apparently tricking naive and innocent souls into forming a “contract” which they will (at a later date) seek to enforce. The enforcement team will of course not be the reassuring person the OP spoke to. That conversation was post (after) the “contract” was made and therefore does not form part of any of the terms and conditions “agreed”.

The OP will then either have to pay up or get their head around contract law and study what makes a contract void. Misrepresentation, lack of capacity, no agreement ...? and build their defence.

I have little expectation of success with that.

[Deleted User]

BoGoF wrote: »

You are making no sense......i

Even a cursory glance at the OP's posting history reveals that he's continually yanking the chain of everyone who responds to him. I refer you specifically to his thread about Sky decoders as a perfect example.

Do not feed.

undetterred

renegadefm wrote: »

gary83, the way I look at it is credit was thrown at me like confetti, and it was thrown at the wrong person at the time. Not everyone is good with money. It was like giving a gambler the crown jewels, or an alcoholic free whiskey.

Thats why I look back at my nieve past and feel bitter and twisted. Surely managing money should be taught at school.

But the PPI issue as I see it was miss sold to me before I even dreamt of going bankrupt. Going bankrupt to me was such a hard decision because I was trying to keep it a secret so that my parents didnt feel obliged to bail me out, but I had to face the humiliating situation of them reading it in our local gaurdian newspaper and them approaching me about it, imagine that? And even my boss must have read it and approached me about it. Something like that I was trying so desperately to keep secret was now blown around like the wind.

By now I'm already bitter and twisted at the world. Then I discover 12 years after going bankrupt I payed out all this money on PPI that I cant even claim back. Yet a work college has just recieved a cheque for 22 thousand on one loan he had. Ok fair enough hes never been bankrupt, but I started to imagine what potentially I must potentially have to come back to me as PPI. It probably far out weighs my bankruptcy debt. So had I chose to struggle on with the debt until now I could easily pay it off from PPI pay outs and be even better off now.

So you can easily see surely why I am angry at the world. I have been delt the worst hand of cards ever going.

I have tried to do everything right, I have worked hard all my life since school, and have been living on the bread line all my live, never been rich or that well off. Yet people I know don't work and got all the luxurys I can think of.

Are you still wondering why I am angry at the world?

You've had the slate wiped clean.