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  • FIRST POST
    • Sir1973
    • By Sir1973 7th Feb 18, 10:25 AM
    • 4Posts
    • 1Thanks
    Sir1973
    PPI Claim After Bankruptcy & 3rd Party Fees
    • #1
    • 7th Feb 18, 10:25 AM
    PPI Claim After Bankruptcy & 3rd Party Fees 7th Feb 18 at 10:25 AM
    Good Morning. Some advice would be appreciated on this matter please. I feel somewhat foolish in posting the following thread, hindsight is a wonderful thing however..

    I have already read associated posts on this forum about claiming PPI after Bankruptcy.

    I went through personal bankruptcy in January 2009. Last year 2017 a PPI Refund Management Company contacted me about reclaiming PPI on old loans and credit cards. I admit I went along with starting a claim, I thought what the hell it's a "no win no fee" scenario leave them to it, I haven't really got anything to lose. What I should have done however, and I know this now, is contact the Insolvency Service before engaging with the Management Company.

    Following processing a claim with the PPI Refund Management Company, Barclays Bank have admitted they have miss-sold PPI to me back in 1999 - 2000. They are prepared to compensate £4500. Barclays are aware through their own investigations that I was subject to a Bankruptcy Order in January 2009 and have stated in a recent letter that any monies owed will be sent directly to The Insolvency Service. I don't object to this at all, I was responsible for my own actions in going Bankrupt so my creditors deserve recompense, final.

    I am now very nervous however about the prospect of the PPI Refund Management Company coming back to me to claim their fees from me directly, I understand this could happen as The Insolvency Service is not responsible for paying any fees from any refund proceeds. Yes I should have done my research I know.

    I don't know what to do here as potentially I could end up being a lot worse off through having to make payment of fees yet not actually having gained anything from the claim itself. I can honestly say that this potential scenario was never explained to me by The PPI Management Company throughout the claim process. I know ignorance is never a defence. I feel hard done to if I'm honest as the banks contributed all those years ago to my financial plight and I could be in a similar position again having turned things around since I was made Bankrupt in 2009.

    Help
Page 1
    • zx81
    • By zx81 7th Feb 18, 10:30 AM
    • 17,282 Posts
    • 18,391 Thanks
    zx81
    • #2
    • 7th Feb 18, 10:30 AM
    • #2
    • 7th Feb 18, 10:30 AM
    You need to put in a complaint to them that they should not have taken on the case as you were bankrupt.

    There are regs around this - you should have told them you were bankrupt and they should have refused to take on the case, but they are also supposed to check.

    The PPI board will give a more comprehensive answer.
    • Sir1973
    • By Sir1973 7th Feb 18, 10:48 AM
    • 4 Posts
    • 1 Thanks
    Sir1973
    • #3
    • 7th Feb 18, 10:48 AM
    • #3
    • 7th Feb 18, 10:48 AM
    Hi thank you zx81. What do you mean by "the PPI board" please?


    I can honestly say that the Management Company never asked about previous bankruptcy. If they had, I wouldn't have been untruthful and what have stated this was the case.


    I'm unsure what next step to make here? Do I contact the Insolvency Service and confess or will they just be happy they have received monies and leave things at that? I don't particularly want to contact the Management Company and stir things up either. I feel as though I should sit tight and just see what happens or should I go on the front foot and make a complaint as you suggest?
    • Bigp29
    • By Bigp29 27th Feb 18, 11:24 AM
    • 1 Posts
    • 0 Thanks
    Bigp29
    • #4
    • 27th Feb 18, 11:24 AM
    • #4
    • 27th Feb 18, 11:24 AM
    I am in exactly the same scenario.
    I won't see a penny of the refund but the claims guys have invoiced me £600.
    Let me know how you get on.
    Thanks
    Adrian
    • acerimmer7
    • By acerimmer7 4th Mar 18, 7:27 PM
    • 2 Posts
    • 0 Thanks
    acerimmer7
    • #5
    • 4th Mar 18, 7:27 PM
    • #5
    • 4th Mar 18, 7:27 PM
    I have a successful PPI award pending, however I was made bankrupt some ten years ago. What happens re the PPI interest accumulated since discharge from bankruptcy?

    Would the official receiver have a claim to that as well?
    • Sir1973
    • By Sir1973 4th Mar 18, 7:40 PM
    • 4 Posts
    • 1 Thanks
    Sir1973
    • #6
    • 4th Mar 18, 7:40 PM
    • #6
    • 4th Mar 18, 7:40 PM
    If the ppi refund refers to loans before bankruptcy then as far as Iím aware all monies including interest goes to the official receiver.
    • Moneyineptitude
    • By Moneyineptitude 4th Mar 18, 8:08 PM
    • 20,466 Posts
    • 11,345 Thanks
    Moneyineptitude
    • #7
    • 4th Mar 18, 8:08 PM
    • #7
    • 4th Mar 18, 8:08 PM
    I can honestly say that the Management Company never asked about previous bankruptcy.
    Originally posted by Sir1973
    That's odd, it's normally one of the first questions asked on CMC application forms

    Regardless, all monies awarded to you will go direct to the Official Receiver. You should therefore contact the Legal Ombudsman with regard any bill which the Claim Company present you with, as they should have refused to handle your case as soon as it became apparent you are a bankrupt.
    The "PPI Board" are simply a group of people posting about PPI related issues elsewhere on this forum.
    I was made bankrupt some ten years ago. What happens re the PPI interest accumulated since discharge from bankruptcy?
    Originally posted by acerimmer7
    The OR gets everything. You get nothing. Sorry.
    Last edited by Moneyineptitude; 04-03-2018 at 9:25 PM.
    • acerimmer7
    • By acerimmer7 4th Mar 18, 8:09 PM
    • 2 Posts
    • 0 Thanks
    acerimmer7
    • #8
    • 4th Mar 18, 8:09 PM
    • #8
    • 4th Mar 18, 8:09 PM
    Thanks for your time.

    That's what I suspected.
    • Moneyineptitude
    • By Moneyineptitude 4th Mar 18, 8:12 PM
    • 20,466 Posts
    • 11,345 Thanks
    Moneyineptitude
    • #9
    • 4th Mar 18, 8:12 PM
    • #9
    • 4th Mar 18, 8:12 PM
    I won't see a penny of the refund but the claims guys have invoiced me £600.
    Originally posted by Bigp29
    Contact the Legal Ombudsman, the Claims Guys should not have accepted your complaint in the first place.

    Every bankrupt considering a PPI complaint should go to this link and read it carefully:
    http://forums.moneysavingexpert.com/showthread.php?t=3766585
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