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  • FIRST POST
    • Natbel
    • By Natbel 27th Jul 15, 8:05 PM
    • 2Posts
    • 1Thanks
    Natbel
    Arch hall and ppi
    • #1
    • 27th Jul 15, 8:05 PM
    Arch hall and ppi 27th Jul 15 at 8:05 PM
    Hi just a quick one I'm an ex bankrupt for nearly 7years,in fact just got a mortgage,which is fantastic! Anyway had a call from a company called Arch Hall telling me I can claim ppi even though as I said I'm an ex bankrupt,I've gone for it (can cancel within 14 days) because even though I think it's pointless as I'm sure any monies would be taken from me probably by the OR,Arch Hall are saying I could possibly keep it and there would be no comebacks.
    Has anyone else had any dealings like this before?and is it a risk,can I get charged for anything.?
    I'm just thinking nothing ventured nothing gained
    Many thanks
    Mick
Page 1
    • GazHatesBanks
    • By GazHatesBanks 27th Jul 15, 8:57 PM
    • 167 Posts
    • 172 Thanks
    GazHatesBanks
    • #2
    • 27th Jul 15, 8:57 PM
    • #2
    • 27th Jul 15, 8:57 PM
    If the PPI was taken out before your bankruptcy CANCEL THE AGREEMENT NOW!

    The full PPI reclaim will be due to the OR and you will be hit with their fees. The lender will be aware of your bankruptcy and will either notify the OR or pay them directly but as you will have signed an agreement you will be responsible for their fees - usually 25-30% of the amount reclaimed + VAT!
    • fermi
    • By fermi 27th Jul 15, 9:21 PM
    • 39,439 Posts
    • 47,470 Thanks
    fermi
    • #3
    • 27th Jul 15, 9:21 PM
    • #3
    • 27th Jul 15, 9:21 PM
    Insolvency Service/Official Receiver info - Payment protection insurance mis-selling claims and bankruptcy

    Payment protection insurance (PPI) mis-selling claims and bankruptcy
    PPI mis-selling guidelines

    Following the recent publication by the Financial Services Authority of proposed guidelines for firms that sold PPI policies and their contact with customers who may have been mis-sold a policy, but have yet to complain, the following information may be useful to persons who became bankrupt after the sale of a PPI policy.

    A PPI mis-selling claim: a bankruptcy asset

    Following provisions of the Insolvency Act 1986, The Insolvency Service takes the view that if a PPI policy was mis-sold before the date of an individual!!!8217;s bankruptcy, any claim relating to the alleged mis-selling of the policy is owned by the official receiver or trustee of the bankruptcy estate, not the individual to whom the policy was sold.

    Discharge from bankruptcy does not alter the position

    Discharge from bankruptcy does not alter this position. Discharge does not operate to transfer unrealised assets, including PPI mis-selling claims, back to the individual.

    Considering a PPI mis-selling claim: refer to the official receiver or trustee

    If a (former) bankrupt considers that a PPI policy was mis-sold, they should not attempt to pursue a mis-selling claim without reference to the official receiver or trustee.

    If a claim has already been made, the official receiver or trustee should be informed of the claim and the person against whom the claim is being made should be informed of the bankruptcy

    Use of claims management companies

    The Insolvency Service is aware that some (former) bankrupts have used claims management companies to pursue PPI mis-selling claims for them. If these services are used after the date of the bankruptcy order, it is possible that the individual will remain responsible for all or part of the commission charged if an award is paid to the official receiver or trustee. This may be because the amount of the commission is challenged by the trustee or if the firm against which the award is made is a creditor in the bankruptcy and exercises a right to set-off the award against its claim in the bankruptcy. This could result in no payment being made from which the commission could be paid.
    As such, care should be taken before acting in this way.

    Best course of action: contact the official receiver or trustee

    The best course of action for any individual contemplating making a PPI mis-selling claim who is or has been affected by bankruptcy is to contact the official receiver or trustee dealing with their case before proceeding further.
    I'm a Board Guide on the Debt-Free Wannabe, Bankruptcy, Credit Cards and Loans boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com

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    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
    • TheGardener
    • By TheGardener 27th Jul 15, 9:52 PM
    • 2,277 Posts
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    TheGardener
    • #4
    • 27th Jul 15, 9:52 PM
    • #4
    • 27th Jul 15, 9:52 PM
    Just to reiterate - 100% of any payout will go to the OR and the PPI reclaim company will come to you for their percentage/fees.
    The PPI reclaim company will know this and don't appear to care (or they need to train their staff better) - they just want their cut and if you have a mortgage, then you have an asset they can secure their debt against. I don't think its over stating the situation to say this is effectively financial entrapment.

    Cancel it now while you can. This particular 'venture' many cost you dearly.
    Last edited by TheGardener; 27-07-2015 at 9:54 PM.
    • Natbel
    • By Natbel 28th Jul 15, 8:57 AM
    • 2 Posts
    • 1 Thanks
    Natbel
    • #5
    • 28th Jul 15, 8:57 AM
    • #5
    • 28th Jul 15, 8:57 AM
    OK thought as much and many thanks for the replies
    Mick
    • worried123
    • By worried123 22nd Jun 17, 11:32 AM
    • 302 Posts
    • 102 Thanks
    worried123
    • #6
    • 22nd Jun 17, 11:32 AM
    • #6
    • 22nd Jun 17, 11:32 AM
    Hi - I was just browsing this thread and I, too, have had a call from Arch Hall.

    I told them that I have never pursued ppi as I was made insolvent about 10 years ago. (if i was in a position to reclaim ppi I think I would actually get quite a bit of money going back quite some years ago.

    The chap from Arch Hall told me that people assume they cannot claim because they have been bankrupt and if they did reclaim anything it would belong to the official receiver....also they could go back as far as 1990....my claims would go back way before bankruptcy.

    Excuse me but i am not really up on these things and the chap is aware that i am a naive female......He told me that I `could` claim despite bankruptcy and they take 35% (plus vat) instead of 30% so that i am left with no fees (i don`t really understand it and i am not fussed about making a claim but was left with the feeling that i would have `nothing to lose` and everything to gain.

    They are sending me out some literature and forms but i am now very hesitant about pursuing this.

    Do you think i should put the forms in the bin and knock this on the head. I have reread the posts here and i think this company should be ashamed of themselves.....I know nothing but i always felt that any money reclaimed would belong to the official receiver.......he said this is not true...

    (also i could never attempt to reclaim ppi myself as my claims would go back absolutely years and i do not have paper work etc...it would be impossible
    thank you
    Last edited by worried123; 22-06-2017 at 11:41 AM.
    • zx81
    • By zx81 22nd Jun 17, 11:34 AM
    • 16,386 Posts
    • 17,438 Thanks
    zx81
    • #7
    • 22nd Jun 17, 11:34 AM
    • #7
    • 22nd Jun 17, 11:34 AM

    Do you think i should put the forms in the bin and knock this on the head.
    Originally posted by worried123
    As quickly as humanly possible.
    • worried123
    • By worried123 22nd Jun 17, 11:54 AM
    • 302 Posts
    • 102 Thanks
    worried123
    • #8
    • 22nd Jun 17, 11:54 AM
    • #8
    • 22nd Jun 17, 11:54 AM
    Thank you

    To be honest - i have to say that if i became bankrupt owing my bank money it is not right anyway that i should pursue a claim with them.

    I am however going to ring the chap from arch hall to tell him what i think he is up to and why i will not pursue things..he did sound a bit dodgy to be honest.

    thanks again
    • LincsPaul
    • By LincsPaul 22nd Jun 17, 1:29 PM
    • 131 Posts
    • 66 Thanks
    LincsPaul
    • #9
    • 22nd Jun 17, 1:29 PM
    • #9
    • 22nd Jun 17, 1:29 PM
    Yeh bin it - the guy from Arch Hall is interested in his % only, not yours.
    • fermi
    • By fermi 22nd Jun 17, 2:14 PM
    • 39,439 Posts
    • 47,470 Thanks
    fermi
    Excuse me but i am not really up on these things and the chap is aware that i am a naive female......He told me that I `could` claim despite bankruptcy and they take 35% (plus vat) instead of 30% so that i am left with no fees (i don`t really understand it and i am not fussed about making a claim but was left with the feeling that i would have `nothing to lose` and everything to gain.
    Originally posted by worried123

    Utter lies.
    I'm a Board Guide on the Debt-Free Wannabe, Bankruptcy, Credit Cards and Loans boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com

    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
    • LincsPaul
    • By LincsPaul 22nd Jun 17, 2:48 PM
    • 131 Posts
    • 66 Thanks
    LincsPaul
    Have a gander at this : https://www.gov.uk/guidance/ppi-after-bankruptcy#if-youre-contacted-by-a-claims-management-company

    Worst case scenario is the IS keep all the cash and the claims company come after you for the fee. Not very nice.
    • worried123
    • By worried123 22nd Jun 17, 8:25 PM
    • 302 Posts
    • 102 Thanks
    worried123
    Thank you everyone - i have just read the info LincsPaul and you cannot argue with that. They are complete rogues...surely what Arch Hall are doing is illegal.
    • Shypad4
    • By Shypad4 7th Feb 18, 4:25 PM
    • 2 Posts
    • 0 Thanks
    Shypad4
    not illegal but they are rogues
    the director of this company used to run other companies advising bankrupts and legally extorting money from people in debt at astronomical rates. he has a string of dissolved companies meaning he assett strips and moves on reaping the profits. he is called Christopher Holmes check him out on companies house beta search .gov.uk website. do not touch any company he runs with a barge pole. other forum posts will mention bankruptcy protection fund, he is a complete racketeer who takes advantage of peoples poverty.
    • Shypad4
    • By Shypad4 7th Feb 18, 4:29 PM
    • 2 Posts
    • 0 Thanks
    Shypad4
    he is dodgy
    Thank you

    To be honest - i have to say that if i became bankrupt owing my bank money it is not right anyway that i should pursue a claim with them.

    I am however going to ring the chap from arch hall to tell him what i think he is up to and why i will not pursue things..he did sound a bit dodgy to be honest.

    thanks again
    Originally posted by worried123
    the director is definitely dodgy, he was featured on the BBC when he ran the so called Bankruptcy Protection Fund. He also employed a criminal ex - solicitor called Michael Seward who had done time for embezzlement.
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