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Scottish Trust Deed Forum
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08/02/2015 1:15 pm
Hey there, I need some advice and would be grateful of any help or insight,
I have been in a trust deed and it's coming to an end in 3 more payments,
However I just recieved a letter from a company on behalf of my trust deed in regards to PPI reclaim, I'm a little lost to this as it advises the creditors to make all cheques payable to the representative of the trust deed on behalf of myself, I'm a little lost as to what would benefit from me doing this as, I have three payments left and once there paid then I assume I am free of this ball and chain, so why would I want to claim monies that I assume the creditors or the trust deed providers will benefit from, or would I stand to gain some money as some of these PPI was from many years ago long before I even entered the trust deed, would it not be in my best interests to not sign these letters and pursue this matter once I'm free from the trust deed in a year or so or am I legally binded to do this,
Any help, guidance or insight into this matter is welcomed
08/02/2015 2:47 pm
Welcome to the forum luckykals.
When you signed your trust deed your assets vested in your trustee. One such asset was the ability to make PPI claims.
Your trustee is obligated to investigate whether PPI claims present an opportunity to repay more to your creditors.
You're obligated to comply with the reasonable requests of your trustee, so if you refuse to sign these forms you're unlikely to be discharged from your trust deed even if you've completed your monthly payments.
It's irrelevant that some of the PPI relates to debts from before your trust deed. What's relevant is that such claims could help to repay more to the companies you now owe money to.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
09/02/2015 11:21 am
Hi luckykals,
I can see and understand where you are coming from but unfortunately as TDA has advised any assets including possible PPI compensation will be ingathered into your Trust Deed to pay back a bigger proportion of your debts.
To allow yourself to move on and receive your discharge at the conclusion of your Trust Deed then it's best to try and deal with the PPI issue.
Any delay from you in dealing with it could potentially delay your discharge.
David is not currently posting in the Trust-Deed.co.uk forum
