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Scottish Trust Deed Forum
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Topic starter
13/08/2013 8:34 pm
Hi forum,
I will try to keep this painless and as simple as possible.my TD came to an end the tail end of 2012 and I received my discharge letter early 2013.A few months later(may) I received a letter from Lloydstsb saying "having checked there records I may be entitled to ppi etc etc" so I decided to fill in the paperwork and send it off after the usual rigmarole of filling stuff out and phonecalls.About 2months ago I received an offer of a few thousand pounds and a few days after that I received a cheque with my name on it.Ive since cashed this cheque and spent it unbeknown to me that I should have informed the IP of this,i didn't know this until I had a conversation with a work collegue today who has had a similar experience.Throughout the investigation with Lloyds I wasn't made aware that the ppi claim was being made on behalf of my IP.I checked the AIB today and sure enough my IP still hasn't been discharged.I am at a loss what to do now,i haven't had any dialogue with my trustee since the beginning of this year and up until today I was under the impression that this ppi payout was mine as I had been discharged.HELP!!!!
13/08/2013 9:50 pm
Hello nearlythere.
I'm afraid I cannot think of any easy answers here.
I suggest you contact the trustee to start putting together a plan of action.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
13/08/2013 9:58 pm
hi TDA,
Is this likely to lead to serious consequences?
thanks.
13/08/2013 11:34 pm
Hi nearlythere
They will probably seek to recover the full value of the payment as a reasonable option.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
13/08/2013 11:45 pm
Hi Mark,
is this likely to be recouped in one payment?i have no equity or assets.
thanks
13/08/2013 11:51 pm
I think this is exactly the sort of question that needs to be worked through with your trustee nearlythere.
Hopefully they'll take a reasonable and practical view. That's maybe more likely if you bring this to light rather than it being otherwise discovered.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
14/08/2013 8:59 am
Hi nearlythere,
Unfortunately your Trustee will more than likely look to recover this from you as this will probably have been the main reason that your file was kept open.
The best thing to do is contact your Trustee, explain the position and to try and come to an arrangement over paying this money back into your Trust Deed.
As TDA has said, this will come to light eventually and it's best that you're the one that brings it to their attention rather than the PPI company they are probably using or Lloyds.
David is not currently posting in the Trust-Deed.co.uk forum
