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Scottish Trust Deed Forum
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Topic starter
24/02/2016 8:54 pm
I finished my trust deed last March and received my letter stating that I was finished. So in August last year I asked my banks if I had any ppi outstanding which they told me I did. They asked me to contact my trust deed to say that I was finished with my trust deed. I did speak to them and I was told that it didn't matter if I was finished with my trust deed the money still went to them. She also told me that any money I receive now or in the future hoes to them. I'm confused as I thought once your out your trust deed that was it. Please can someone help me
24/02/2016 11:17 pm
Welcome to the forum kymcl. You may not have seen the other recent threads on this topic, so I will summarise briefly.
There are many others in the same boat as yourself, or whose former trustees have already formally been to court and been reappointed in order to gather in these funds and distribute them to creditors.
Very recently a case went to the Court of Session and the decision was made by the Lord that the PPI funds in that case should not go to the former trustee but should go to the individual instead.
So as it stands currently, the law may be on your side in arguing that the funds should come to you, and if your former trustee went to court then you may be successful if you had a solicitor defend your case on that basis.
It is likely that the decision in question will be appealed, so there is a chance that the situation could change again at some point.
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