Your discharge should happen regardless of ppi reclaims(when did TD get signed??),and your trustee simply remains in office until all ppi reclaims have been dealt with. Dont worry about when your firm pays off your creditors,it really doesnt affect you,and its common for lenders to not get a penny until after all the money is collected and split up.

Congratz on getting to the end!!!! The new start is just around the corner.

Paul

Thanks plasticdaft! Im so happy that the end is in sight now and can't believe its nearly here already!

I signed my trust deed in Oct 2008, not sure if that makes a difference?

Congrats Scorpio , Im very happy for you , and hope your discharge follows quickly, Good luck for the future

Kitty x

Hi

Your trustee will do all the necessary paperwork to allow you to be discharged, you do not need to do anything. You will not be discharged the next day, but hopefully within a few weeks. The Trustee has to adjudicate on the claims and pay the dividend to creditors. Normally the dividend is paid at the end of the 3 years, rather than at intervals. The PPI should not affect your discharge if the Trust Deed was signed after April 2008.

Hi All
What is the current situation to trust deeds signed before April 2008?
I have been in one since December 2007 and have made my last payment on August 2011. I received a letter in November 2011 explaining how bad banks had misold PPI and that they would like to complain on my behalf and that I had the right to object, which I did. I thought this letter was my discharge papers. I have now received a circular that they intend to charge for their services from the trust deed fund for pursuing these complaints. I now have had letters from my creditors apologising for my complaint, and that as they have not had signed authorisation from me to allow Invocas to complain on my behalf would like me to complete and sign a complaint form.
I have contacted Invocas complaining about this and they say it is on hold pending there investigations.
Surely they need my consent to complain on my behalf?
Surely I do not need to complain regarding PPI if I do not want to as I am trying to improve my credit relations with these creditors not make it worse?
Why am I still being held when I have complied with all my terms of the trust deed and this is recent legislation enforced by the courts on the banks, long after I signed and complied my trust deed?
I feel this is a money making exercise for Invocas and their partners EIF and not to benefit of my creditors as I will be complaining to them for funds to give back to them.
What are the Legal rights for me regarding giving permission to them to complain on my behalf when I clearly do not want to complain and just want this finished with?
Legally do they have the right to complain already on my behalf when I have already declined their offer?

Welcome to the trust deed forum subrid.

I think you need to check with Invocas whether they have accepted your objection. If they have there seems to be no reason not to discharge you now.

If they have not accepted your objection it may be that they have decided to go ahead with the PPI claims anyway. Some trust deed firms are not giving their clients the option to object with PPI claims being made and are requiring their co-operation.

As your trust deed was signed before April 2008 they cannot discharge your from the trust deed until the PPI claims are resolved if they have decided to press ahead.

Of course, if they haven't accepted your objection it begs the question why you were asked in the first place. We had a similar thread on the same subject recently and I recall there had in fact been some kind of administrative error that was cleared up with a few calls.

PPI claims can sometimes help to repay creditors a greater amount towards the debts owed. Insolvency practitioners are receiving guidance that these potential assets should be looked into as their job is to make sure creditors are repaid as much as is reasonably obtainable.

I cannot give you legal advice I'm afraid, that's outside the scope of the forum. However I do very much sympathise that your discharge is being held up in this way for reasons you have little control over and can understand your frustration.

If I were you I think I'd be talking to Invocas about the initial objection to the making of PPI claims and whether there has been some kind of mix-up that can be quickly resolved now.

Hi Scorpio81

As I understand it the PPI claims are for people who have been "mis-sold" PPI, not just anyone who has had it.

I wonder if you advise your Trustee that when you took out the PPI it was fully explained to you and you chose to take it. In that case it was not mis-sold and you feel it would be dishonest and unethical to pursue this claim.

Just my understanding, but I'm not an expert.

PB

Sorry Scorpio81, that response was meant for subrid

PB

It may not always be that straightforward Poorboy.

For example, it may have been missold if you willingly accepted it but would not have been able to claim on it (for example if you were self-employed).

There are lots of other reasons why mis-selling may have taken place.

Having said that, there is increasing evidence that the banks are receiving a lot of questionable PPI claims at the moment. I think that will become a much bigger story at some point in the future.

Sounds interesting - how do you mean "questionable", trust deed assistant?

There seems to be a lot of poor practice amongst certain claims management companies Kevin.

There was a small article in the FT a couple of weeks ago about a number of them being refered by the banks to the Ministry of Justice as they were concerned about their activities.

The chief of Lloyds this week described 25% of the claims they are receiving as being "fraudulent" which was widely reported in the press. He also said around a third of the claims they are receiving are for accounts that had never had PPI sold on them.

There's a certain irony in firms allegedly making fraudulent claims in respect of insurance policies which were allegedly fraudulently sold in the first place. What is that phrase about reaping and sowing?

Hi all

Thanks all, I am going to write to my trustee rather than phone so I have a paper trail.

Out of interest if I was realeased from my Trust Deed without PPI being investigated, could I claim for PPI for myself since my Trust Deed started prior to April 2008?

Hi subrid,

That's a very interesting question, so we wrote a blog about it a little while ago!!

(Blog now removed from website)

The answer is probably yes, but you may have to fight your corner.