Hi again tinsoldier - it's nice to hear from you.

The company is just using a "play it safe" procedure. If your former trustee doesn't accept the cash they can pay it to you. If they send it to you first and it turns out they shouldn't have they might have to pay out twice.

I think you've been a little fortunate - there's a trend towards trustees reopening trust deeds to gather this type of payout for creditors at the moment.

A good time of year for a little fortune.

Thanks.

I don't understand how a trustee can reopen a trust deed. I mean surely the is a point where you and they are truly discharged from obligations?

There is - but the point seems to centre on whether that asset (the PPI) vested in the trustee when you signed a trust deed. If it did, is it fair that creditors lose out later?

The AIB is doing the same for discharged bankrupts.

It seems likely this will become more and more common in the future.

I've been assured I will receive the funds, and my trustee has already returned a cheque sent to them by the same bank which leads me to think that my trust deed won't be reopened in this case

That certainly seems very likely to be the case tinsoldier.

It doesn't seem to be every trustee doing this - at this stage at least.

Also, how can I find out if my trustee has been discharged, as I searched the AiB register and there is no record of my TD on it anymore??

That probably means your trustee has been discharged tinsoldier.

Your entry is removed from the public register one year after your trustee has been discharged.

Your former trustee or the AIB may be able to confirm the exact date for you.

Which lends weight to the PPI funds being returned by the trustee......

I agree tinsoldier - and as discussed they don't seem to have taken the position of trying to reopen the trust deed so that the creditors can benefit from these funds.

Terrific news for you hopefully.

If your trustee remained in office there's little or no doubt that they'd retain those funds.

Hi tinsoldier,

It sounds like you have had a bit of good luck with the PPI refund.

As TDA has advised some Trustees are applying to the court to have themselves reappointed in a Trust Deed to be able to ingather the PPI money and pay this to the creditors. At the moment my firm isn't doing this but this could change in the future and it's something which we are monitoring.

When PPI first came around some Trustees were looking into it and some weren't. After time the majority of firms are now doing this to recover more funds for creditors which is the Trustees main responsibility. It's on this basis that it could become common in the future for Trustees to be reappointed to ingather the PPI funds if they have been discharged.

Providing you do receive the cheques then enjoy the extra funds especially at this time of year.

Let us know how you get on.

Hi David

Further developments - Halifax have written a latter saying they have sent the cheque to BDO who advised that they still have an interest in it, but they seem to be getting confused with bankruptcy and trust deeds. They are insisting I was subject to a bankruptcy order, which I wasn't.

Probably someone in a call centre that doesn't understand the difference, tinsoldier.

Sounds less promising 🙁

How can BDO still have an interest in the funds if a)they have already returned one sent earlier by the Halifax and b) the trustee was discharged over 3 years ago?

I was thinking that myself Kevin.

When it comes to things like this you really want to speak with a senior member of staff tinsoldier.

Try and speak to them again and let us know what they say.