I don't see why you couldn't pursue this, Denise. If it happens before you are discharged then you would have to pay this to your trust deed, but otherwise it would be yours to keep.

Thanks for your quick reply. I will think about it. How long does it usually take for the discharge to be completed, our last payment was on 01/04/11.

Hi Denise.

I think you might want to be quite careful about how you proceed with such a claim.

I suspect that the bank concerned, even if they have to agree that the PPI was mis-sold to you, may not make the payment to you. They may elect to retain the funds to set against any debt that wasn't fully repaid by the trust deed.

Is it right that they do that? Possibly not... though if they choose not to pay the onus will then be on you to make them. This might require the involvement of legal help or the Ombudsman. Even then payment to you would not be guaranteed is you would have to win your case.

This will especially be the case if your PPI was single-premium. This is where you pay a lump sum for the insurance at the start which is then added to the loan (with interest being charged on it). If this is the case then you would effectively be claiming a refund for a payment that you didn't actually necessarily make in full.

Another concern would be the use of a claims company to chase the PPI for you (which you do not have to do). They typically take 25% of the award. Let's say you win your case but the bank choose not to pay the money to you. The claims company will still want their 25% and you'll owe it to them... though you will not have any lump sum at that point in time to pay them.

Of course the bank may choose to pay and so there may be no harm in trying. I just think it's worth being a little thoughtful in advance about some of the risks and possible obstructions involved.

Thanks for your reply, this is what i initially thought, i will still give it some thought but i think i may just leave well alone and be happy that i am now debt free.

Thanks

Hi Denise

I think you will lose the option to pursue for this as the debt effectively dies on discharge of both yourself and the Trustee. It may be that the trustee will discharge you but not himself/herself to allow them to pursue the claim.

In legal terms, you would be attempting to pursue for something that no longer existed.

Mark

Mark

I don't think it really matters that the debt is discharged - for example it is possible to pursue a ppi claim on a debt that is fully repaid. However, I think trust deed assistant's comments may well be on the mark....might be better to leave well enough alone

YES AFTER DISCUSSING THIS WITH MY HUSBAND I THINK LEAVING WELL ALONE IS THE BETTER OPTION, THANKS FOR ALL YOUR HELP