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13/04/2012 5:56 pm
I am fairly confident, certain in fact that I refused PPI where it was discussed in relation to any borrowing signed up for since moving to our current house in 2003.
Before that, I don't recall being aware of it at all.
I received a call today from a company stating they are confident they can claim for loans pre-dating that. I had to lie and say I was leaving for an appointment to get the guy off the phone, told him to send details and anything else he needed facts on. I actually hung up after the 3rd time I answered just one more thing.
Couple of questions-Does this issue affect older accounts, as in 9+ years ago?
If I had agreed or been given PPI on a loan without knowing, surely after the loan's been repaid it's not eligible for claiming on?
If they achieved a positive outcome(Unlikely I'm sure)would it be able to be paid towards the creditors when I apply for sequestration?
I've never thought it worth looking into on the basis that the work involved in searching through old, disorganised paperwork(I know I kept it because I've kept almost every financial document since we were married 20 years ago)would far outweigh any likely claim. Also, if any of the creditors included in my sequestration are the ones who had me take PPI, it seems almost 'right' that they don't have to payout to me whilst I'm having other amounts put aside that I owe them.
So, should I give any time to their forms when they arrive or not-thoughts?
13/04/2012 6:17 pm
Hi Pamjo.
If you've decided to become bankrupt it makes little difference to you whether you claim or not.
If you do decide to claim I'd suggest researching a company yourself, or handling it yourself, rather than using the services of a firm that has called you making big unsubstantiated promises.
Just my opinions. Others may see it differently.
By the way, having fully repaid a loan doesn't mean a claim isn't possible.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
13/04/2012 9:34 pm
Thanks TDA-I'm unconvinced by the caller and not inclined to do 'business' with his company.
Call it laziness, I don't think I'll bother.
My efforts are best directed to organise myself in advance so things are different(better) after sequestration.
Is there any prospect of it delaying discharge from sequestration down the line?
13/04/2012 11:34 pm
For what sort of reason Pamjo?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
14/04/2012 2:54 am
I was thinking along the lines of the strife others have had with discharge being delayed due to previously unclaimed PPI - albeit in pTDs.
14/04/2012 8:13 am
I would be amazed if during the sequestration process they dont look into ppi. Seems to be a bit like money for old rope nowadays that banks arent contesting claims about misselling so if you were to have taken ppi at some point even if you wanted and asked for it they will pay out!!
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
14/04/2012 10:32 am
I think discharge from sequestration is a more automatic process after a year, but perhaps one of our experts could confirm what the similarities and differences are for us...
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
20/04/2012 9:08 am
TDA-if the discharge is automatic but payments continue longer (36 months)is this longer period when payments are still being made the 'period of sequestration' referred to? If I understand it correctly, the claims for PPI, lottery wins etc would still help pay off debts during the period of sequestration?
20/04/2012 9:15 am
With hindsight "more automatic" probably wasn't the best choice of phrase here
Mark, Kevin, Shona and Chris handle sequestrations. Let's see what they have to say on the subject...
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
20/04/2012 1:14 pm
Discharge is usually automatic after 1 year, so there should be no delay to discharge caused by PPI in a sequestration.
If a trustee in sequestration is expecting funds from a PPI misselling claim then it doesn't matter if your discharge happens during this process. They are still able to gather the funds in after you have been discharged.
Other windfalls could not be gathered in after your discharge, such as a lottery win. The difference is that the PPI claim existed whilst you were still undischarged, whereas if you receive a windfall that only came about after your discharge then the trustee cannot claim it on behalf of your creditors.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
20/04/2012 11:44 pm
Ok-thanks. I don't buy lottery tickets but my Mum insists on putting a 'lucky dip' in every birthday and anniversary card. Hope she picks /dips lucky in the next year.
