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Topic starter
06/11/2012 2:37 pm
Hi all,
I hope you can help me here.
I completed payments of my Trust Deed in May this year and received email notification that I had sufficiently made all the payments initially outlined at the beginning of my Trust Deed. I'd been informed that the letter had been dispatched, but I never received it. However I take the email as official notification and it is on KPMG headed paper.
I've now contacted my TD firm several times to ask about discharge. I've been informed that they are chasing potential PPI claims. I chased this up three times before they sent a PPI form out to me, which I completed and returned. Hoping that was sufficient, I then called them after not hearing from them again to enquire about my discharge. I was then told that due to the large volume of PPI claims, that it could be several months before I am officially discharge.
As you can imagine, I like many others, now feel as though I am in limbo.
I mentioned on the phone that other firms were discharging people in Trust Deeds and claiming PPI as a separate issue. I was then told that my firm could not do that because I could just go off and claim the PPI myself. That is not the plan at all, all I want is to be discharged so I can move on with my life. The person I spoke to said that they would arrange for a manager to contact me in 24 hours. 1 month later, I'm still waiting for that call.
Therefore, what I'm looking for is some direction here. I'm aware that different forms have different policies around discharge, however I get the feeling that my firm isn't really aware of the possibilities and are quite happy keeping me hanging on. I don't want to go straight to the complaining route, however what I really need is potential things to inform my TD firm about, educating them about what other firms are doing.
Any help and advice would be greatly appreciated!
06/11/2012 5:13 pm
Hi balamb.
As we have read many times here this firm seems to have taken the view that they cannot discharge their clients while they investigate PPI claims.
This is contrary to the position taken by plenty of other firms, but it is their decision to make as far as we can tell.
The problem seems to be that while other firms are choosing to discharge clients, there is nothing to compel a firm to do this if they do not choose to.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
06/11/2012 10:09 pm
Thanks TDA,
Yeah that's what I had thought after reading the other comments.
Therefore essentially I am trapped until they decide that they want to discharge me. They don't seem to be in any hurry to close anything.
07/11/2012 8:02 am
Hi balamb
It is very easy for the trustee to have sent a letter to creditors advising his intention to pursue PPI and advising that any payment vests in the Trustee. Should any payment be made to the individual while the trustee is in office, the the trustee would pursue the company for payment.
It is no different to the trustee notifying an interest in a policy and the insurance company paying out to the individual. The company is still liable to repay trustee.
I sometimes wonder if firms are adopting this non discharge policy to keep the numbers up.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
09/11/2012 5:17 pm
I'm pretty much in the same situation as balamb, although not with the same company. I feel very let down by my trustee and the whole Trust Deed system too be honest. Still waiting on discharge even though my 36 months was up in March!!
I'm not a homeowner and never took PPI out on any cards/loans etc. The last time i asked for an update was over 2 months ago and still no reply. They also refuse to issue Form 5 and deal with any issues seperately.
09/11/2012 5:43 pm
I am sorry to hear that ac1.
It must be even more frustrating when you read about other firms handling this in a different way.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
09/11/2012 5:48 pm
Hi TDA it is!!
I thought that as i was signing up to a government backed scheme it would be ok, but it seems these companies make up the rules as they go along.
10/11/2012 12:46 pm
Hi ac1.
Despite what so many ads say it really doesn't feel like protected trust deeds are a "Government backed scheme". It's simply part of the law of personal insolvency... thats very different from being "Government backed".
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
10/11/2012 3:07 pm
Stories like this worry me. As we all trudge along hoping on day it will all be over, situations such as this make me think, will it ever come to an end?
Every end has a start !!
