Hi Nikki

I assume from your post that you were discharged, however your trustee was not. If this is the case, then any PPI funds would be paid to the trustee.

The payment is not for fees, but in general need to be paid to the trust account. Do you know if creditors received a dividend payment?

Mark

Hi Nikki

This is something which the majority of us have gone through on this site. The PPI refund needs to be paid into your trust deed fund and added to the payments you have been making.

Tonyd

I think their wording has confused the issue.

Paul

Hi all, thanks for your responses.

Mark - No, they definitely said it was the fees of £2800 (just over) They didnt say anything about them being or not being discharged.

Tony - I'm no longer making payments, this concluded last february and I received my discharge in March

Plastic - I spoke to them on the phone also, she made it fairly clear it was fees. Am I missing something here?

Hi Nikki

The best way to check would be to ask for a copy of the Receipts & Payments as this will detail all income going in and all income going out.

From the information provided, it would mean the entire contributions have been taken in fees as well as the PPI payment.

Mark

Fees again. . . .. I wonder if. .

Anyway Nikki, It may help the experts understand if you could tell us a few more things.

How much was the original debts?

How much were you paying each month?

And how long for?

Tonyd

Hello Nikki.

I'd suggest that you have a look on the Register of Insolvencies. It's accessible via the Accountant in Bankruptcy website.

You'll be able to confirm the details of your discharge, but more importantly you'll be able to find out whether your trustee has "remained in office". This means that they're not yet discharged.

If they're still "in office" this might well be because they've been looking to raise more money for your creditors (and/or to cover the trust deed fees) via PPI claims.

If this is the case the money isn't going to come to you I'm afraid. Even if there weren't any extra fees the money would be going to your creditors rather than you.

This is because the potential to make a PPI claim is an asset. Your assets vested in your trustee when you chose to sign a trust deed.

Hi Nikki and welcome to the forum,

As TDA has suggested the first thing you want to do is check the Register of Insolvencies to see if your Trustee has been discharged or not.

If the Trustee is still in office and hasn't been discharged then unfortunately the PPI money would be ingathered into the Trust Deed.

If the Trustee has been discharged and the case closed then I'm not sure how they could argue that they have an entitlement to these funds to offset against any fees that they have.

As Mark said ask for a copy of the Receipts and Payments which will show all money received by the Trustee into the Trust Deed and all money paid out including what fees they have charged.

If you could give us some answers to the questions tonyd has asked that would assist us provide you with some more guidance.

Hi all

thanks for the responses.

Ok, my answers

How much was the original debts? - the original debt was around £80k including our flat which we allowed the bank to voluntarily repossess. It was split with my ex husband, and the trust deed was split when we seperated and divorced. The flat later went to auction and sold for around £32k. I'm not sure if this went into the trust deed or not?

How much were you paying each month? - MY monthly repayment was £148.00 and so was my ex husbands, up until we seperated. at that point I dont know what he was paying.

And how long for? I signed the trust deed in March 2009 and made my final contribution in feb 2013.

Thanks

Hi

I've just looked on the register of insolvencies and found the below information

Date of trustee's discharge 18/04/2013
Date of debtor's discharge 18/04/2013

Does this mean that the trustee has also been discharged the same time as myself and they are not able to take the PPI funds?

Thanks again for all your help

Hi Nikki,

So by my calculation between you and your ex husband you paid just over £14,000 into your fund. I assume that as the trustee has first call on the fund he has already claimed all of the £14,000 you paid in as his fees and costs. He now appears to want the PPI refund towards his fees as well.

Correct me if I am wrong experts but as he and Nikki are both discharged surely he cannot take this PPI refund. The deed is finished and Nikki is no longer bound by it?

However Nikki this may not end as you may want it to. If the PPI refund is from a bank who you owed money to in your deed then in the end they may not pay it out to you. Instead they may put it towards what you owed them at the start of the deed.

I know it may sound unfair but that's the stand some banks have taken in similar PPI claims after the trust deed has been discharged. There as other posts on this forum on that subject.

Sorry to be the one to give you the bad news.

Tonyd

If the trustee has been discharged and funds from PPI or wherever to be honest are made available, the Trustee has no legal basis to interact with these funds and certainly not bank them.

Once the trustee is discharged, his part of the whole process is finished and any post discharge funds would revert back to the individual.

I would be amazed if a licensed IP was stupid enough to interact with funds over which be had no control.

Mark

It might be different if you had been sequestrated, Nikki, as the trustee could seek to be reinstated by the court (which the Accountant in Bankruptcy have been doing in relation to PPI). However, there isn't any way for a trustee under a trust deed to do this.

It's certainly a strange one and if the Trustee has indeed been discharged and banked the funds, that is serious enough, however if the funds have been used for fees after he has been discharged, then that is a whole new matter.

If you are speaking with the bank, I think you need to voice your concerns directly to them and advise them that the Trustee has been discharged and they have are in no position to hand over payment to him. You should then ask the bank to investigate the who;le matter and provide the date the cheque cleared and if possible, in whose account the funds cleared.

Mark