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Scottish Trust Deed Forum
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Topic starter
16/01/2012 9:30 am
Hi everyone,
We have now made our last payment to our Trust Deeds and had assumed the discharge process could begin straight away.
However, I spoke to our IP and they said they were now checking up to see if any loans that became part of the Trust Deed has PPI taken out against them.
I assume the logic is that a successful claim for PPI cash being returned would increase the dividend to creditors.
Can they do this, they say it will take at least weeks chasing that up before the discharge process can even begin.
I don't understand why they had to wait until the end of the PTD to check whether we had any PPI.
We didn't have PPI on anything!
16/01/2012 9:37 am
Hi BouncingBack.
Well done on having completed the trust deed payments.
Some trust deed firms think it's sensible that they investigate PPI claims. The idea is that it could increase the dividend to creditors that did not mis-sell PPI and prevent those that did mis-sell from benefiting unfairly from doing so. I don't see any problem with that.
Sadly though we've heard from quite a few people on the forum where a certain (very small) number of trust deed firms seem to think it's OK to leave this right until the end of the trust deed hence making it very likely that your discharge will be delayed. I cannot see how that's OK, unless they find a way to discharge you while it's being done. They could have started such claims months or even years ago.
I'm afraid that there may not be a great deal you can do about this and can see why you might be very frustrated and/or angry.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
16/01/2012 9:51 am
Hi BouncingBack
As Trust Deed Assistant says, it's incredible that a firm wait till then end of the Trust Deed before looking at this.
I would demand to know why this wasn't looked at sooner as you have kept up your end of the deal.
We try to close cases as close to the 3rd anniversary as possible and would dream of starting any type of ppi 'investigation' after a final payment is made.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
