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Topic starter
09/01/2017 3:20 pm
Hi,
I was discharged from my PTD in 2013 (even though i thought it should have been completed in 2012) and now find myself in a bit of limbo.
As it has been some time since i was discharged i was wondering if someone might advise on how i deal with a PPI claim that has been re-investigated by clydesdale bank.
I received a letter last week stating that i was entitled to a substantial sum of money as the result of the claim being investigated again following the bank being prosecuted for not dealing with claims appropriately. The original claim was carried out by a third party acting on behalf of the trustee and as mentioned the bank refused to pay out. This claim was initially made in 2010, approximately 1 year after my TD started.
I never initiated this new claim (i never wanted to) and it has been carried out by the bank as part of their apparent obligation to revisit any PPI claims that they wrongfully didn't pay out for and as such they have advised that they have only written to myself with the details of this. They have not advised the agency who initiated the original claim and as far as i can see my TD has not been reopened. Going by the post started by Pascal12 which i have read and a few others there seems to be a lot of ambiguity as to how this is being dealt with.
Can someone give me some advice on where i stand? Do i have claim to the money resulting from the new investigation?
As mentioned already, my TD was discharged in 2013 and i have since successfully rebuilt my credit rating after a few years of hard work and discipline and would rather it not be reopened (even under the trustee) as i thought i was finished with all this.
I've been rooting around for a few days trying to scrounge up as much information as possible from the forums on here to ICAS to read the new legislation but the ICAS is vague and difficult to understand as there is a lot of financial industry language, i'm just a lowly IT boffin!!
Apologies for the wordy post but i'm at a loss.
thanks in advance
09/01/2017 3:28 pm
Welcome to the forum Confused1916.
The main question is whether your trustee has also been discharged (as well as you)? You can check on the register of insolvencies which is available online. If you cannot find an entry for yourself there, it would usually mean your trustee was discharged more than a year ago.
If they're not discharged, this money will almost certainly go to them to repay your creditors.
If they are discharged, the situation still isn't 100% clear. Trustees have been advised against seeking to reopen trust deeds by their professional bodies at this time based upon what the courts have found thus far, but one trustee is attempting to take an appeal case about this to the Supreme Court.
There's no certainty that the Supreme Court will accept this appeal, nor that this trustee will win the case even if they do. However, if the trustee did win the appeal, things could change substantially in a way you might not welcome.
All of which doesn't give you a clear answer I'm afraid, but it appears to be where things are right now.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
09/01/2017 3:38 pm
Thanks for the swift reply TDA,
I've had a look at the insolvency register and i'm definitely not there (i've checked and triple checked!). In light of this i had assumed that the trustee had also been discharged which led me to dig further.
I have looked to see if there was any further info on the case you mentioned but i can't find anything online to say when it is up for review. Do you have any idea when this will happen?
What would your advice be to me, i am expecting the money to be deposited into my bank within 28 days? I just can't get away from this nagging doubt that there will be some consequence to this pending appeal and i don't want to get my hopes up that i'll be able to keep the money.
09/01/2017 3:53 pm
Hi Confused1916.
If you're discharged from your trust deed, as is your trustee, and these funds are forwarded to you, I don't think you should have any concerns.
We don't know when/if this case will happen I'm afraid.
I think Clydesdale are likely to run an insolvency check prior to sending funds to you. They then may well contact your former trustee to confirm whether they have any interest in the funds. If the trustee has no interest (which seems likely as things stand today) then the bank will likely make the payment to you thereafter.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
09/01/2017 4:03 pm
Thanks TDA,
I appreciate your advice. It appears to be a very murky topic with regards to this situation. I had heard a load of radio adverts advising anyone with previous PPI claims with this bank to attempt to claim again, but in light of the whole TD process it never even occurred to me to even try and claim. My opinion was just to leave sleeping dogs lie and it also felt a little cheeky!!
On the other hand, i have read a few posts made by other people and i'd like to reassure anyone who has just entered into a TD that things can and do get better. I have been able to rebuild my life financially after a lot of heartache and my credit profile looks a lot rosier. It takes a lot of patience but it can be done.
If there are any developments re the PPI award i will update the post as and when for anyone who may be interested.
C
09/01/2017 4:26 pm
Thanks for that Confused1916.
Likewise, if you keep an eye on the site we'll be providing an update when we hear further about the possible Supreme Court appeal.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
