So as mine was 15 years ago I prob did not have form 5. So is this what’s gonna go against. Us former debtors

Mine is 6 k my former trustee is holding onto I just took he he was gonna use it to re open it or else what is he wating on mond as many many trustees are showing no interest in ppi so must be ok to do it. So as they holding it I am expecting them to renopen just didn’t think it be worth it as prob be thousands in their fees and court fees

According to an old thread on here (from 2015) the AIB were reopening sequestration cases to gather in PPI where,

"...at least £2,500 had been received and/or if the amount of money was sufficient to pay creditors 1p in the £."

See: https://www.trust-deed.co.uk/forum/topic.asp?TOPIC_ID=5873

Might be some type of a yardstick?

Amazing to see just how wrong some of the assumptions on this old thread have become with hindsight. A dynamic topic.

Morning

Many old sequestrations were being reopened to distribute PPI as sequestrations. A trust deed is governed by trust law as well as the bankruptcy act.

As far as I am aware, it is becoming increasingly more difficult to reopen sequestration given the judgement at Glasgow Sheriff Court last year. Basically, there are other ways to distribute funds without reopening sequestration.

From personal experience, we reopened a number of sequestration cases however we demonstrated that the reopening would provide a sensible return to creditors and it was cost effective to do so. Each case involved a court process and the client was able to provide any representation before the case was reopened. In these circumstances, the cases were opened for less than 6 months and it was a relatively straight forward process.

Many trustee's including the Accountant in Bankruptcy followed this procedure.

Trust Deed's on the other hand is a much more contentious issue all together.

I agree TDA - the PPI process has certainly evolved over the years and the issues people had in 2008-9 about PPI are certainly different from today's issue.

Its been a long 10 years !

Does anyone know if rbs has paid out if you've been in a trust deed?

I started PPI reclaim process before I started trust deed but was in trust deed when got the news that was successful - RBS offset the ppi against my credit card debt (which was included in trust deed) This meant I was unable to pay the claims company fee, and after a lot of discussion KPMG agreed to add the claims company fee to my trust deed

Hi Macky.

We’ve seen RBS setting off these payments against debts that are, or were, owed to them.

We’ve seen them partially pay out when the claim value is higher than the debt owed to them.