Hi

If your trustee is "still in office" (i.e. not yet discharged) then I'm afraid the funds will be distributed to your creditors.

Welcome to the forum Mitch0004.

Tinsoldier is correct. All trustees investigate the potential for PPI claims to help fund a bigger return to your creditors.

They're able to finish this work even if they've discharged you, which is good otherwise your discharge might be long delayed.

I think you'll find in reality the banks send your money straight to your trustee. They tend to run insolvency checks before issuing any payment.

Hi Mitch0004,

Well done on successfully completing your Trust Deed and receiving your discharge. I'm sure it's a nice feeling knowing you are now legally debt free.

Like others have said if your Trustee is still in office and hasn't yet been discharged themselves then any PPI funds that are paid out will be ingathered into the Trust Deed for the benefit of creditors.

If on the other hand your Trustee has been discharged (you can check this on the Register of Insolvencies which can be found on the Accountant in Bankruptcy website) then you stand a good chance of receiving the funds.

I have a similar but different query. My trust deed is ended (yey!).

During the Trust Deed an amount of compensation was proposed by the bank. Whilst waiting for payment the Trustee had received all of my payments and paid an interim settlement to creditors including the bank. The bank then kept the compensation saying it was entitled to offset it's loss. The Trust funds the bank received and the PPI compensation they kept exceeded the amount of the debt!

A PPI company has contacted me to say I can make another claim. I'm tempted to let them do all the work just to see what happens.

Hi exile.

Is this bank RBS?

it is... how can you tell?

Hi exile,

They've gone about dealing with PPI claims associated with insolvencies differently to most other firms.

RBS has appeared to form the view that they can set-off a due PPI payment against an old debt that may have since been written off.

There's more about this here:

https://www.trust-deed.co.uk/rbs-and-ppi-claims-after-trust-deeds.html

I can't see how or why they'd set-off a sum greater than the amount that was owed to them. So, if the payment from your trust deed plus the PPI claim amount exceeds your original debt to them, I'd be asking them to justify the figures.

I'm not sure that you'd need a claim firm to help with this.

Further down the track, RBS won a legal case on this issue previously but that decision, we believe, is due to be appealed fairly soon.

HI

Shouldn't the information regarding RBS offsetting PPI compensation in light of the recent outcome from the Dooneen Ltd v Mond case from the Supreme Court.

Thanks

I thought that rbs lost the case?

RBS did lose the case but are still doing off sets with people's PPI monies which is wrong and goes against what the Supreme court ruled.
It seems RBS can do whatever they want and get away with it.
Do the right thing and pay everyone that is legally due their money

The Supreme Court case wasn't about RBS or set-off.

RBS did lose their last Court case in respect of set-off.

Our understanding is that they sat back after losing this case to see how the Mond case worked out as it might influence their own position on set-off.

I'd guess that they'll be reviewing their position and taking legal advice on this now.

So... to say what they're doing goes against what the Supreme Court says seems incorrect. To say what they're doing is wrong might be correct, but could turn out to be incorrect. To say that RBS can do what they want and get away with it rather flies in the face of all the regulatory fines that have been imposed upon them for misconduct of several types.

I know everyone would like this to be a black and white scenario. And that they'd like to get the cash of course. But, as we've seen with Mond, sometimes these things take longer than we'd expect to work through to a position of clarity.

Can i just confirm that if you are discharged in say November 2018, If you are then made redundent or take on a new job in say July 2019, Can trustee still chase this if they havent been discharged ?

Hi np785641d.

The difference here is when you became entitled to the money or assets.

A potential PPI claim (the asset) existed when you signed a trust deed.

An entitlement to redundancy money (in your example) came into existence after being discharged.

It's the timing that determines why things can be treated differently.

When I signed my Trust Deed there was no potential PPI existed, I entered my trust deed back in 2004, PPI claims didn't become highlighted until 2010 when it was widely advertised
Back in 2004 no one knew about potential PPI claims.
I know that the recent Doneen v Mond case was nothing to do with offset, however the Donnelly v RBS case did, and the courts ruled that the monies belonged to debtor yet RBS are still carrying on regardless with offset in similar cases.