Thank you TDA and Mark for explaining your opinions on this, i understand your thinking TDA and agree that the trustee must pursue this PPI system, but i fully agree with Mark that these could be in estigated early on in the trust deed to mitigate against any loss to the creditor, its very easy to blame the debtor but the trustee is paid to carry out all check vugorously and if they fail to do so then why should a debtor face getting a court letter through their door several years later just because a trustee firm has completely failed in their duties to carry out all duties asscociated with administering a trust deed!

I think we can all agree that PPI matters should be tied up as soon as possible as there is no reason for it to wait until the debtor is discharged. Certainly whenever anyone now signs a Trust Deed with Grant Thornton the PPI investigation is started immediately, as I am sure is probably the case with the other firms represented on here, and it has been this way for some time now.

I,m in the same boat yes its ridiculas that after 3 years td an 2 years paying equity off not missing any payments and paying equity off earlier with my boiler savings(not cant get new boiler )they say when you get form 5 which seems to mean nothing it will take further 6-8 months plus 8-10 weeks to close td case with both myself an td discharged

Hi all interesting points all round. I agree trustee has a duty to pursue all avenues to pay creditors as much as possible . I have read on the forum the ppi claims can be significant amounts which may have been enough in my case to settle my debts fully without the need for TD. If pip had been investigated 3yrs ago at the start would the trustees fees still be the same? The ppi claim paying the total debt, my three years money paying fees..... should trustees be required to partially refund fees as debt co u l d have been settled much sooner?

Hi maverick267.

Form 5 seems to mean nothing?

Honestly?

Hi RDN152.

One issue is that PPI claims can take months, even years, to reach a conclusion. That was especially the case a few years ago when some banks were behaving really badly to avoid taking responsibility for having behaved really badly previous to that.

Your trustee could not have known whether PPI claims would be successful, how much they'd pay or when those funds would be received. As such, I can't imagine there would have been much of a fee saving even PPI work had started earlier.

A significant percentage of total trust deed fees also relate to the time-consuming set-up process at the start - a part of the work that would not be reduced by handling PPI sooner.

Just venting my frustration really....I do understand it was all so much h more difficult to get the banks to agree n compensate for bad practice back then. Form 5 day was great. But its kinda like you've made it through but are still not completely in control of your own finances yet which takes the shine off it. I will be happier once trustee is discharge too.x

Fair enough RDN152.

With the exception of PPI you are fully in control of your own finances aren't you?

as for form 5 yep it does not seem to mean anything as until trustee is discharged your still in td awaiting ppi claim's to be dealt with hoping not to get a windfall so they take it

You're misunderstanding maverick267.

You're not in a trust deed. You're discharged.

The trustee is just getting on with some work that doesn't need to concern you.

Any new windfall that comes your way isn't going to go to your trustee.

not the way I see it once you have form 5 it still does not mean you are out of td till trustee is discharged, I have a letter from credifix that says that even with form 5 if you get a windfall/ppi it will go to them .
Unless different company's deal with it differently??

They don't as far as I'm aware.

I think the way that you're seeing it is causing you unnecessary concern.

I'm sticking by what I've written and will drop out of this now.

ok phoned them again and until form 7 is issued not completely out of td any ppi would go to them however once form 7 issued then windfall/ppi lottery all mine

The PPI existed when your trust deed started. You promised to pay that over back then.

Newly acquired assets after your discharge are different.