Hi TomThumb.

I understand the general frustration about PPI.

Can I ask, do you consider the fact that your trustee has not been discharged is holding you back in any way?

Insolvency practitioners are instructed to establish whether PPI claims might help repay more to the creditors. Such claims aren't restricted to financial institutions that happened to be creditors to a protected trust deed.

TomThumb,

I am sorry to hear of your distress with this matter.

As Trust Deed Assistant says the Trustee has a legal obligation to see the investigation through. They also will be waiting to get discharged to close the case and take their fee.

The Trustee has taken the pleasure of discharging you whilst these investigations continue. Many others do not receive their discharge until all matters are complete.

I guess I am just trying to highlight (if any) positives.

Regards

Hi TDA,

Thanks for the quick reply. I was discharged very quickly (form 5). My concern is that it has taken 12 months to look into PPI, which is an overwhelming amount of time, only to be told we need to look back further into your credit history - non of this was in my TD.

The holding back part comes from credit history and cleaning up of Experian etc.... no lender will move your history to "settled" until they receive funds the TD regardless of your status of "Discharged" - this is my issue.

The second part off course is that they continue to draw down on the sum apportioned to my creditors. So between TD and there PPI partner (who are useless), they are wasting money - I have explained to them on more than one occasion that I have no PPI.

To your last sentence agreed, but there needs to be a timeline on this.... 12 months is a joke... as this is diluting that sum of money to the financial institutions.

Apprecite you feedback as always.

TT

Hi TomThumb.

They have no option but to mark your default notices as being satisfied or partially satisfied. However, you may need to force their hand.

This article will explain why and how:

https://www.trust-deed.co.uk/repair-your-credit-rating.html

I agree on timelines in principle, but in practice it probably cannot work currently. Certain banks are stringing things out for as long as they can to try and put people off. Even the Financial Ombudsman is telling people it will take 12-18 months for them to look into a complaint.

Hi TomThumb,

I can understand it's very frustrating having come so far in the process but as people previously advised it's unfortunately something that we have to do. I can assure you that our case administrators are as frustrated as our clients sometimes due to the length of time it can take to complete any investigations and the problems that some lenders cause.

Even although your Trust Deed file remains open, I suspect that as your Trustee is not carrying out a great deal of work on the case that they will not be charging a lot time to it and in turn shouldn't be drawing any significant fees from the case. Your Trustee has to justify any fees that they take from the case. The PPI partner will be completing any investigations probably on a ÔÇ£no win no feeÔÇØ basis.

In our PPI investigation cases, as the majority of work has been completed and the file is sitting waiting on the outcome of the investigations very little time is charged to the case unless we are speaking with the client for an update on the investigations, dealing with any creditor queries on dividend prospects or completing statutory reporting requirements.

Many thanks all for you replies. Helpful as always (Thanks TDA for the link).

I have come to an agreement with my trustee today where I will get the written confirmation, then they will move my case to closure.

Let the games begin.

TT

TT