So basically if mond wins al former trustees can then apply to EE open old trust deed and claim. Monies they holding on to and how long does this process usually take then names on too r o i all over again #128545; this is actually unbelievable. So closed trust deed has no meaning

It does have a meaning from your perspective Wildchild.

You were discharged from the trust deed and your debts after you completed your obligations. This doesn't change - you've been discharged and cannot be pursued for repayment by your former creditors.

The tricky bit is that the creditors were entitled to PPI money as part of the terms of your trust deed. The main questions being addressed legally (in different cases) are whether:
1 - They remain entitled to the money
2 - Whether banks can set the money off against debts they had to write off
3 - Whether it should go instead to an individual that has been discharged from a trust deed

I do totally understand why people wouldn't want their name on the register of insolvencies again. It will however show very clearly when you were discharged also (and will not affect your credit file).

So if Mr mind wins his case will your trustee still. Need to go to court to get it reopened?it sound easier said than done and how would people know if trust deed is being reopened if they have moved address

A Court will have to agree to a request from a trustee to re-open a case.

So am assuming if mond wins and law changes the court will always agree

I don't understand how they could reopen years old trust deed if it was not law then when I signed it

We can't offer legal advice I'm afraid Wildchild.

If this happened you could of course obtain legal advice with a view to opposing such an attempt.

Hi jojo93.

The Courts have already allowed some trust deeds to be re-opened for this purpose.

This was put on hold as a result of the progress of the legal case.

It's not that this wasn't (or isn't) the law - the issue is that it isn't clear what the law was (or is).

We could talk about this forever only time will tell

You're right jojo93.

Mr Mond may well lose his case.

Even if he wins his case, other trustees may not follow his lead.

With the PPI deadline looming, this doesn't appear likely to be a long-term issue whatever the outcome.

Hi.
Am I right in saying this court case on Monday all things will be considered on old trust deeds being renopened to collect ppi not just creditors and former trustees cut of the money. But also. The. Total upset of any former trust deed being renopened. On register once again affecting credit ratings and jobs etc
Thanks

Hi Wildchild.

I'm not sure many of the things that you mention will be considered at all.

It's a pretty dry legal question about who should benefit from the money.

As mentioned in various threads on numerous occasions, the re-opening of a trust deed should not affect anyone's credit rating.

Thanks .. not so good then was hoping who ever was challenging Mond would mention the bigger picture.

There is clearly a bigger picture Wildchild, but the Court is considering a fairly narrow and legally contentious matter only.

Thanks .. not so good then was hoping who ever was challenging Mond would mention the bigger picture.