Hi dls.

I'm a little confused.

Are there two trust deed firms that you have spoken with?

Am I right that you have a cheque from a financial institution for PPI which is made payable to you?

sorry what i meant was that i signed a td with a company but after about 4 months was transferred to another firm,the ppi claim was made months prior to the trust deed i never heard anything so presumed that i was not successful.when i did i phoned my trustee and sent on the letter and was told that they would pay the claim firm and keep the rest.but when i phoned the new company they said they would take all of it, the cheque is from the bank my claim was against and the claim firm are phoning me to ask if i have recieved anything.i phoned my td firm to speak to my trustee but when asked why was told to just pay it all to them i have never spoken to my new trustee

Hi dls

It could get complicated. I suspect that the 1st TD firm signed an agreement with the PPI firm or agreed for it to be pursued. If a new TD firm took over the old firm, I suspect there would be an agreement for the new firm to meet the liabilities/agreements of the old firm. Would the original firm be BR?

Mark

Hi Mark,

I think dls may have instructed the PPI claims company before the trust deed began.

dls - How about writing to your (new) trustee personally, explaining you began this complaint on your own initiative, explaining that x% of the payout is due in fees, and offering to pay the remaining sum to them once you have confirmation from them that this will be OK?

hi i am sorry i am not making things clear for you am in such a panic.you are right i agreed to try for ppi long before entering a trust deed,i never heard anything back and just forgot about it then i got a letter saying that i would be refunded,i was later phoned by the claim firm telling me that i had won my claim. i informed my then trustee and sent them the claim firms letter when i spoke to my trustee he said that its ok that claim firm would be paid and the rest would go to my td.i have now recieved a letter today from claim firm that i should pay them by the 31st,i really dont know what to do i am upfront and have not even put the cheque into the bank,when i phoned my new td company a few weeks ago i didnt get as far as my trustee i was told by the lady who answered the phone to just give it all to them when i whenever i recieved a payment.am running in circles here and dont want to get into any trouble with either company could i not just pay them both

Hi dls

It looks like you entered into an agreement with the ppi company and then signed the Trust deed. In that respect, the claim for their work in getting the funds is likely to be a claim in the trust deed.

mark

I'd agree with that. If your trustee will not pay the claims company then they cannot come after you for the money. The co will have to take it up with your trustee and lodge a claim with them if necessary.

I would try and speak to your TD manager again though dls - would be better if they will pay claims co to avoid any hassle that may come your way.

thanks for your advice folks,i am really glad i found this site its such a help and calms you down when you get in a panic.i will try to call and see what they say it works out at £3250 for the claim company and £4350 for my trust deed,should have claimed ppi myself but was put off by the paperwork.claim company called again today and left message to call them back but i will phone td first

Hi dls.

That's quite a fee! A real situation like this shows just how much claims companies are earning out of this process. For anyone considering making a claim, the evidence is that using a claims company doesn't improve your prospects of success by any substantial margin (especially as the Financial Ombudsman Service will take into account that many people who claim are themselves not financial or claims experts).

I still think you might want to write to your trustee personally on this. Could be a good way to bypass the frontline staff that quickly told you to send them the full amount earlier on. I'd be reluctant to send the full amount unless I had confirmation from the trustee that either:
1 - They were going to pay the claims company fee or/
2 - The fee would be included as a creditor in the trust deed.

thanks TDA, yes its a substantial share they get but i never thought i would get that much if anything at all in hindsight should have done it myself.i phoned my td company today and after speaking to 3 people was told to send everything including cheque to them and they would deal with it do you think that i should write 1st and explain better the circumstances of it all so i could get written confirmation of what to i dont want to get into any bother.

Hi dls.

I'd just want to know I wasn't going to get lumbered with the fee. Seems reasonable to get some kind of confirmation that this would not be the case in writing first. After all, you've been impeccably honest about this significant payment that has been sent to you.

thanks for your help your right at least i would have it all in writing.i will write and explain it all and take it from there,

This is why trustees should simply instruct those with ppi to make claims rather than use claims firms,much more would go into the td pot that way!

Paul