Hi angiepal

If you signed after April 2008, then there is no reason for the delay in discharge (despite what they might say)

If they refuse, please ask them to fully explain the reason why.

Mark

Hi Mark
Thank you for your advice, am in the process of doing as you say, with phone calls and letters , so giving them til this friday then will again be on the phone.Yes signed on Dec 2008, so do not see any reason for not giving me the discharge and them continuing as trustee to any PPI.
Again thanks to all you guys, members and experts that I know roughly what I am doing.
will update on friday , if I get past the minions on the phone!!!!

Hi Angiepal
Sorry to hear you are having the same problem with KPMG but if you have read my post , you know you can beat them. I will say it is not easy I had to do a lot of research and take a lot of advice in preparation for all they fired back at me. Don't waste time talking to the office juniors on the phones they know next to nothing . Go straight to the top write a letter of complaint to mr B.C. Nimmo and mark it private and confidential & personal then send it recorded delivery. Make reference to the 2008 legislation allowing you to be discharged if TD signed after April that year . Also make it clear this is a last ditch effort to resolve this before you take legal advice. They will try and stall with all sorts of reasons but stay strong because at the end of the day they know you are right. Oh forgot to say make sure you make a formal request to be discharged in your letter. Hope this helps . Keep us posted.
Regards
John

Hi angiepal.

Good luck with this; being discharged from your trust deed promptly after completing all of your obligations doesn't seem too much to ask.

Staggering that people have to go to such lengths to be discharged. Poor show from kpmg.

Paul

Hi All, John will do as you say but I also agree with Plasticdaft, the lengths we should not need to go to after we have fulfilled our end of the deal......TDA, yep not much to ask, but seems to be a big problem for some trust deed companys......
Will update at the weekend and thanks again all.

I really see no benefit to clinging onto clients other than in hope of a windfall capture!!!

Paul

This is the letter I received from KPMG today..... Help Guys, what next?

You may be aware that there has been a great deal of recent publicity and investigation regarding mis-sold payment protection insurance(PPI) policies.There was a high court ruling on PPI in April 2011, following which the Institute of Chartered Accountantsof Scotland (ICAS) issued guidence that confirmed that a Trustee is required to investigate whether a debtor has been Mis - sold PPI Policies as part of their duty as Trustee.
Accordingly, while I agree that you have fulfilled your obligation to contribute your surplus income towards your trust deeds, I am in the process of reviewing whether it is cost effective to pursue if you have been mis-sold PPI policies. Any compensationreceived from a debtorbeing mis-sold PPI is classed as an asset in the trust deed and I may not be fulfilling my duties towards your creditors if I discharge you from your trust deeds prior to investigating this matter.
I note your comments regarding the information posted on trust deed forums. However I would note that while Trustees are required to comply with the protected Trust Deed Regulations(Scotland) 2008 they are also required to comply with the terms of each trust deed. Each Insolvency Practitioner's trust deed can contain different terms. Due to the importance of this matter, I have contacted Legal agents for advice in relation to this.
I confirm that I will send you each a questionaire under separate cover in relation to any potential PPI claims to enable me to progress in the meantime.
Soooooooo as you see they are giving me alot of bull, what is my next step, surely what they are saying is they should have had this done before my TD finished in January, but they are dragging it out now, so if I win the lottery tomorrow, they get it.
I am so Angry, I am not interested in any PPI, if they get it good(aslong as it dont affect my tax for this year)!
I just want to get on with my life.......
So what do I reply with guys...please , IM at the stage where I want to go to the offices in glasgow and create merry hell..........

Hi angiepal.

There's a hint in the letter (I think) that something to do with the actual wording of your specific trust deed might prevent you being discharged while your trustee remains in office to deal with the PPI side of things.

The problem may be that even if they were in a position to discharge you now (under the April 2008 rules) we're not aware of anything that means they would have to do so.

Yes I understand that & will have to go thru the td with a fine tooth comb, the main thing is I dont have an issue with them getting the ppi, the issue is if they knew this last year April 2011 then why not get it done then before the TD finished? It seems as tho the companys are happy to drag this out to make more money for themselves, not so much the debtors......
I am now wishing I went bankrupt rather than go thro a so called agreement that the company can change the rules at any time it suits them...

Hi angiepal.

You make a point that I agree with and have written myself here many times. Most people don't seem to mind PPI being looked at as a potential asset, and I think that it's fair to do so, but leaving it right to the very end of a trust deed seems very unfair on clients who justifiably had expected that their discharge would follow soon after their last payment.

To be fair I don't think the ICAS guidance they mention came straight after the PPI court ruling last April though.

quote:

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Originally posted by angiepal

Yes I understand that & will have to go thru the td with a fine tooth comb, the main thing is I dont have an issue with them getting the ppi, the issue is if they knew this last year April 2011 then why not get it done then before the TD finished? It seems as tho the companys are happy to drag this out to make more money for themselves, not so much the debtors......
I am now wishing I went bankrupt rather than go thro a so called agreement that the company can change the rules at any time it suits them...

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i'm in the same boat angiepal. (not with KPMG though). it seems this discharging people who signed post april 2008 and pursuing PPI is completely down to the trustee. pretty pointless regulation then!! looks like all we can do is sit and wait. i too wish i just went bankrupt. ach well

yes guys yet again no rules for the poor people who sign up to an agreement, the fatcats just want more and more, regardless of timelimit....I signed up for a 36 months trust deed on the promise of a discharge and debt free within 2 months after final payment,,,, Having a good laugh at us numptys aint they............hope yours goes better thsn mine is Andy
Trust deed assistant much appreciating ur advice but gonna write another letter to KPMG and also putting it into ICAS, not sitting by letting them take the mick.
Any pointers that I can add to the letter would be much appreciated.
thanks guys for the feedback.

Let's be fair though angiepal.

Understandably annoyed as you are, your concerns aren't to do with the enrichment of fatcats and nobody will be laughing.