You would have been entitled to the claim during your trust deed(or rather your trustee would be entitled to make the claim),meaning you had an asset which wasnt released to the benefit of creditors.

The options are do nothing,or contact your old trust deed firm and ask their advice but dont be too shocked if they want a piece of the action.

Paul

Welcome to the trust deed forum waltercz1.

I cannot see how the trust deed would be entitled for any payment that was forthcoming.

I think your question is whether the debt purchaser is entitled to part of any payment?

Assuming this is the question I can only really answer that I don't know about the legalities and technicalities of this. It's a bit out of the scope of this site. If it's a major concern (or a major sum of money) for you it might be worth considering taking legal advice.

Given that trustees are attemtping to investigate ppi claims if there was a valid claim during the period of a PTD,is that not like an undisclosed asset?

On for the IP's to answer methinks.

Paul

Hi plasticdaft.

Most trust deed firms aren't treating the possibility of a PPI payment as an asset; though of course the payment of a claim would become an asset during a trust deed if someone made a claim themselves.

It's just a handful of trust deed firms that are requiring their clients to make PPI claims; most aren't.

I was assuming that waltercz1 was discharged though in my answer.

I think that more recent guidance from IP's professional bodies has meant that many more firms are now actively pursuing PPI claims during trust deeds where relevant, including my own firm.

It's certainly an interesting thought as to whether someone who is aware they have a valid claim but do not disclose this to their trustee is breaching the terms of their trust deed - and I daresay there is a good argument to be made to back this up.

To answer waltercz1's question, I think that you would be well within your rights to claim that the funds should be paid to you and not the debt agency involved, though as trust deed assistant says this might be a question for a lawyer to answer.

Could you tell us some more about the further guidance received by insolvency practitioners on this PPI issue Kevin?

I can see why trust deed firms would be encouraged to look into this; though hopefully it will all be done in good time to avoid the discharge delay problems so many people have written about here.

The irritating aspect of PPI seems to be the number of times the issue is raised by creditors after the PTD period has been completed. Is there no guidance on this aspect from AiB which suggests that the PPI matter should/could eb explored at the time the PTD is being set up?

The other element of this that I do not understand is whether it is likely that the original lender of money (and thus a creditor) may also be the one who has sold/missold the PPI?

Its hard to see how a trustee could look back at a discharged PTD client and ask for future ppi claims to be paid given that monies would alrwady have been distributed,however companies that you perhaps claim money back from may well try to offset your claim against the debt(even though poist trust deed it would no longer exist!)

It would also be impossible to prove that a client knew they had a mis-sold ppi claim sitting,so I can understand for example my company RSM Tenon wanting to let a ppi reclaim firm loose with my creditors details to find out if I have a claim to make while the PTD is active.

I never had any ppi sold to me so wont have a claim to make.

Paul