Hi,

If both you and your Trustee have been discharged then I think you might have hit the jackpot.

From what I understand a minority of Trustees and one in particular is attempting to reopen a Trust Deed to ingather PPI and this legal action is currently pending an appeal to the Court of Session.

My firm for example once we are discharged have no interest in PPI in a Trust Deed.

A quick call to your Trustee to ask what their position is regarding any PPI now they have been discharged will confirm things. If I were you I would be calling them at 9am Monday morning.

You could find the bank request confirmation from your former Trustee that they have no interest in the funds.

Please let us know how you get on.

Hi David,

I'm going to call the bank first, and try and find out more.

I had nothing to do with the original claim, or the subsequent appeal, so its possible that they have also notified the firm my trustee hired to claim the PPI (if so, I bet they want a cut!)

Assuming that this info is strictly between the bank and myself, is there any legal obligation for me to even notify my trustee as we are both discharged?

Will let you know how things go!

Hi,

I’m not sure regarding the legal position if the bank should notify your previous Trustee. In my experience however banks will air on the side of caution and correspond with Trustees to see if they still have an interest or not.

You might have an argument that if it’s not as a direct result of the firm who looked into PPI ok behalf of your Trustee then they shouldn’t be entitled to any funds.

Speak with the bank and your former Trustee and you can take it from there.

Good luck!

Hi..

Wee update in this....decided that I want everything in writing from the bank in question and my trustee (so be prepared to have posts looking for legal jargon to be put into plain english!)
I think it may be important to have documentation of everything that happens.

After reading this forum, plus a few other sources,I'm concerned that the rules seem to be changing all the time with regard to ongoing court cases.

Assuming my trustee has no interest in reopening my case atm, what is to stop them from doing so a year or two in the future?? (or perhaps being forced to do so by creditors)?
Is there any statute of limitations on this?

Hi amorphous.

I'm afraid we're not trained, qualified, or regulated to give answers to the legal aspects of your question.

From a practical point of view, it would seem very very difficult for a trustee to explicitly state that they have no interest in an asset about which they're fully aware, and then to totally reverse that position in the future.

Your defence in this unlikely scenario would appear to be extremely strong.

So 3 days later, and my ex trustee still hasn't responded to my 4 emails on this issue(I could phone, but I really want a response in writing). Not even acknowledged them 🙁
I already regret telling them - no news is bad news imo!
The wait is absolutely killing me, its like the bad old days of money stress and paranoia all over again!

Anyway, questions about reopening trust deeds...

I gather that trust deeds are not currently being reopened?

(expired link removed by admin)

Is this still true?

Who were the firms guilty of reopening them for PPI?

Can a (ex) creditor ask/force a trustee to reopen a case, or do they have to do it off their own back?

Why would a trustee reopen a case - just for profit, or for other reasons?

Good luck with your claim and just be thankful it's not begbies traynor dealing with it. They've just sent me a letter saying they're taking my £3k disputed PPI award as fees not claimed during my TD! They've quoted some English court decision (AiB v Steven) to justify it. Losing the will to live with this

Hi amorphous.

Cynics might say they're reopened for the trustee to earn additional fees. Such cynics might be right. Trustees reopening trust deeds might say they're performing their duty to recover funds for creditors. People form their own view, often depending upon where they personally fit into this situation (for example your use of the word "guilty" when those doing it might be thinking "duty").

It's worth saying that trust deeds are a bit of an anomaly here. In other types of personal insolvency there'd be little doubt that this money would be going to the creditors. You can see how that might shape the way some trustees might think about this?

I'm not aware of creditors compelling this to happen. However, if the law came down on the side of trustees doing this, it's hard to see how the others could choose to do anything other than the same.

Hi,

I guess its just the uncertainty ,and not being able to get any answers that was killing me. I wouldn't really mind if the trustee got it, just as long as they leave me out of it, and don't prolong my pain. I do actually believe that it belongs to the banks anyway.
Its psychological torture to believe you are rich, and then get it snatched away again.

The firms who have reopened these - The AIB register is quite an interesting read with that regard. I know there may be loads of reasons why old cases are still on there, but the same names keep cropping up over and over.
Interestingly, many of these are English based - Makes me wonder about Scots law v English law, another added complication.

I was a happy ex debtor, rebuilding my life 10 days ago before this happened....for the sake of my sanity, I have decided I have to assume that no money is coming my way,and if it does, I need to assume it will be taken from me at some point in the future.

Back to life, back to reality 🙂

It is a huge sum of money amorphous. I can fully appreciate why some certainty would be welcome.

My view is that the outlook may be more positive than you describe, but I can understand that it might be more comfortable to expect the worst and then treat anything else as a (massive!) bonus.

TDA - I think I love you!

After absorbing all the posts in the forum on this subject over the weekend, I think its great how you have kept a balanced, impartial view on a subject that is probably far too emotive for many of us on here to be rational about.
Way above and beyond the call of duty imo, and a big thank you for all the time you take to give advice and your thoughts.

That's very kind of you amorphous.

I think it's important to demonstrate that there are two sides to some of the contentious issues that get discussed here.

As you say, feeling strongly about something often makes it hard to understand the opposing viewpoint.