Thanks for sharing that David.

It certainly seems as though people shouldn't assume that any old PPI claim is going to come their way after discharge from sequestration.

As we've heard on other threads, ex-customers of certain trust deed providers may well be in the same boat.

I guess if you handle a claim yourself there's only time and the price of a few stamps/calls to be lost. If you use a claims company it could be a whole lot worse though.

The risk is that the bank admits liability, the claim is paid out (not to you), and the claims company presents you with a large invoice.

I think there is a high chance that this will become standard with Trust Deeds too in due course. Once it has been successfully done by one or two trustees then it is difficult for others to justify not doing it.

I was thinking the same Kevin.

The direction of travel here seems pretty clear.

Thanks for highlighting this issue, which has been covered in some previous posts ie ppi and trust deeds reopened, now having
fallen into this debt situation, i personally feel that should you and your colleagues in this industry continue or may i say jump on the bandwagon of pursuing people once they are clear of their trust deeds, then you are only damaging your industry, because if people in a trust deed start to understand that this traumatic time within a trust deed could continue to go on and on and on after discharge then who in there right mind is going to enter a trust deed knowing this, do as you please but bear in mind that in my opinion you could be destroying the trust of debtors in the trust deed system and i fear the security of the industry that pays your wages, your choice professionals, dont bite the hands that feed you!

It's not pursuing people is it littlemo? It's a trustee pursuing a PPI payment - the only consequence for their ex-client is that they don't get the PPI. They're not put in a trust deed again.

A government agency is involved in this same process after sequestration discharge, as David describes. Practice regarding trust deeds is often similar to sequestration and it's easy to see why trustees would investigate whether they should follow a similar process to the AIB.

I've no idea if any of the firm's featured here are considering doing the same now or in the future. For the reasons Kevin explains though, I'd be surprised if most firms don't at least consider whether they ought to.

Hi there TDA and thanks for your reply which I disagree with, let me explain, if someone takes out a trust deed for the average 4 years, and the Trustee issues form 5 and registers the discharge after full compliance with this, then this should be the end full stop, if the Trustee then comes back lets say a year later chasing an old PPI claim, then this is clearly "pursuing" in my book.
My point is, again, if Trust Deed companies fail to investigate PPI claims during the 4 years of a Trust Deed then why should the debtor be faced with Trust Deeds being opened again to Ingather this payment, what has the Trustee been up to during this time?
I would imagine most people who enter a trust deed do so on the previso that they will be debt free in the agreed 4 years time frame, if it becomes known to the public that this 4 year timeframe is not set in stone and could go on for some years after, then the insolvency sector will suffer as people will walk away from Trust Deeds and may prefer a straight forward bankrupt route or alternative debt management with government agencies or charities rather than practitioners like the ones on this forum or anywhere in the country, I mean where does it stop, are we going to chase up previous debtors for winning a £200 scratch card in oct 2010 or a punter who never declared £500 quid his Da gave him in December 2014 cos he was skint!!!!....this really is ridiculous and at the same time concerning for the folk who also work hard within the insolvency industry who I feel must be worried about their future especially when companies in their desperate surge to Ingather funds are at the same time in the early stages of driving debtors away from Trust Deeds as word gets out that they are not as they say they are, as you could still be dealing with these firms many years after discharge, reliving all the nervousness that you felt during the 4 years of struggling with your Trust Deed, don't ruin your industry for more funds, be happy with what you all have at this moment.....only my thoughts.

You mention people may prefer bankruptcy littlemo. But David has just explained that the responsible government agency, the AIB, has been doing the exact same thing with PPI payments after bankruptcy discharge on many hundreds of occasions.

It's just not as simple as "the trustee should have done it before". We've had that discussion before though, without reaching an agreement, so I'll leave it here for now.

Worth remembering that this whole PPI thing is drawing towards an end now. I doubt it will be a "thing" at all in two years time.

True TDA it will naturally draw to an end....just wonder what it will be next once it does lol:)

I appreciate that if this becomes standard practice then many people will miss out on payouts that they might feel they deserve to keep, though that point is certainly debatable and I'm sure creditors would take a different view.

However regardless of the rights and wrongs of this, I think it is important to clarify that there is no other affect on the individual here. They are not being put back into a Trust Deed, but remain discharged throughout this process - it is only the trustee that is being reappointed. So there shouldn't be an knock-on effect regarding the person's credit score for example.

Hi

If the Trust Deed is re-opened to ingather the PPI refund, does that mean that the person's name and Trust Deed re-appears on the AIB website.

I know it disappears one year after Trustee's discharge, so does it re-appear again until the PPI is gathered and then have to wait one year after the Trustee is discharged again?

I personally have no issue with any PPI money being gathered and repaid to creditors (although, there has been debate about how much the PPI may have contributed to the debt in the first place).

I have no issue with the Trustee re-opening the case to collect and distribute that money.

I would have an issue with my name appearing again for a further time simply because a PPI payment was not collected during the Trust Deed. I am curious how the AIB handles the record of the Trust Deed or whether it is re-opened and recorded in a different way.

I'm not sure Firewalker and it's an important question.

I wonder if someone that has experienced this might be able to check their own details on the Register of Insolvencies and let us know?

I can certainly appreciate littlemo's thoughts and concerns and to an extend agree.

The position with scratch cards etc could not arise as the asset needs to have existed pre discharge, so there would be no scope to re open for this type of win. However as said, it needs to be balanced with the view that the funds belong to the creditors. That said, the Trustee in both trust deeds and sequestration need to satisfy themselves and confirm to creditors that the administration and assets have been dealt with and fully concluded before seeking discharge.

Mark

Hi,

I need to make a correction to the number of Sequestration cases the Accountant in Bankruptcy advised they had reopened.

At the training event, John Cook advised it was over 500.

He has been in contact to say that this was a typo with his notes and in fact, the number was in excess of 200.

I agree with both sides of this one!

I agree with Little Mo - if you have completed your specified contributions, been discharged and your Trustee has not investigated the PPI route during the four years then I am sorry, they have not being doing their job properly and one that they get handsomely paid for.

On the flip side - the Trustee investigates the PPI during the four years, conclusion is PPI is due to the person in the Trust Deed but it should be paid to the Trustee. After all it is an acquired sum.

But I struggle to understand how a Trustee can have PPI paid to them when the TD is complete, everyone is discharged, the PPI is coming from a company that weren't even involved in the TD!

I'm sure the PPI saga will run for years to come!