Notifications
Clear all
Scottish Trust Deed Forum
10
Posts
4
Users
0
Reactions
2,540
Views
Topic starter
19/08/2013 7:15 pm
I was discharged from my trust deed in 2011 after fulfilling all of my obligations including remortgaging my home. A few months ago I got a letter from my old bank RBS advising me I may have been mis sold PPI. I filled the form and sent it off and received a reply telling me that I was due a refund of over £9000.00 and this would be processed within 28 days. Today I received a cheque for just over £1000.00 and they have told me the balance had been paid into the loan account which was closed. I noticed on my experian report that the loan account had been re activated after it had previously been deleted. Can they keep they money or am I entitled to get it back has anyone else experienced this.
19/08/2013 8:43 pm
Hi unislave
RBS are offsetting ppi payments in trust deeds where there is an existing debt and appear to have done the same to you.
I think your only option would be to seek legal advice on your position as they will carry on doing this until challenged.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
19/08/2013 9:23 pm
Thank you I will go to the citizens advice and find out if they can point me in the direction of someone who can help.
20/08/2013 8:54 am
It really does need someone to challenge this. Given that your balance on that account would have been reduced to zero after finishing the trust deed it seems unfair legally that they can then suddenly claim 8000 back.
I would look for a no win no fee type solicitor and see what they say.
Of course the other side of the debate is that you are still 1000 better off and you had debts written off so why shouldnt they keep the money.
This is why its worth reclaiming ppi before looking into sorting debts out because formal insolvencies can on occasion be avoided by paying off debts using ppi reclaim funds you may be due.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
Topic starter
20/08/2013 6:50 pm
Strange thing is they've paid me the interest and have now passed me from dept to dept but no one can actually tell me why they have started a new credit agreement which I never authorised.
20/08/2013 11:17 pm
This does seem like quite an uncertain area of law.
Challenging a bank on this, with no certainty of victory, would probably require such deep pockets and courage that the (possible) payoff might not be worth it. Or it could turn out that the bank's advice was correct and their action is justifiable in law. The costs might be catastrophic.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
21/08/2013 6:05 pm
I'm resigned to the fact that they are putting the funds to the loan account. I can see the reasoning behind it why should they pay me the money when I never paid my debt in full. I'm more concerned that they have opened a new credit agreement when this could affect my credit report as I'm trying to rebuild it I know it would be silly to take on a bank with their legal teams and it would cost more money than I have. Thanks for everyone's help though it is awful when you feel lost and don't know who to speak to.
21/08/2013 6:08 pm
Hi Unislave.
I have no way of knowing, but I very much doubt that this account would have been reported to the credit reference agencies.
Have you checked?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
22/08/2013 5:35 pm
On my credit report it said credit agreement deleted as most of my old accounts are now as I signed the trust deed in July 2007 then a few days ago it came back on my credit report as a new credit agreement with the same last 4 digits 🙁
22/08/2013 6:01 pm
Does it show as being fully paid/settled?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
