Off Set and Sequestration

leipzig76

Hi,
I got a company to pursue some ppi's I had with RBS - some from over 20 years ago. RBS have come back with about £7k of offers.The PPI company get 10% (I know,I know ! )  I received a letter from RBS this morning saying they were going to pursue/look into offset because of my sequestration.My bankruptcy/Trust Deed was 16 years ago. Do they still have a claim after all this time ?

Thanks 

Gavin

mwarby

the 20 year old PPI will either go to the lenders via offsetting or the AIB/trustee I think

PPI that you incurred after that your sequestration I imagine would be due to you

you will likely have the issue that the claims management company will still want paid, even if you get none of the money. Assuming you told them of the sequestration there’s an argument that they should have advised you of this or declined to act

leipzig76

Thanks matey !.As it was 16 odd years ago I didn't think it would still be a concern. My own fault really.How would the claims company go about getting monies from me as I don't have savings and am now on Inv Benefits.

mwarby

The same way any other company could, they could pass it to debt collectors and ultimately to court. It does sound like if it got to court the amount you’d repay would be pretty small based on your ability to pay. It is of course possible that the claims company will just send a few letters and leave it at that

Sorry it’s not the news you wanted to hear. It maybe the case that you get something, but would be best to work on assumption that you’ll get nothing