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Topic starter
03/03/2013 5:07 am
Thought I would do this as we have a lot of ppi questions on here,in different topics.
Lets start with 1 if you are still in a ptd then any ppi claims ongoing go straight to your creditors, 2 if you have not been discharged then any ppi claims go to you creditors,
3 if you have been discharged by your trustee but they have not discharged themselves,then any ppi claim goes to your creditors,finally 4 if you have been discharged and your trustee has discharged themselves then any ppi goes to you, or any other windfall you may be lucky to have.
Experts have I got this right or am I still missing some points.
Cheers
03/03/2013 8:11 am
Hi jimmybee.
We try to avoid generalising too much as every situation is unique and turns on its own circumstances.
What you've written however seems broadly correct, unless a creditor admits liability for PPI mis-selling but decides they're entitled to hold onto the cash to set against a current or older debt.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
03/03/2013 10:10 am
Hi jimmybee
Yes as TDA says, you are correct. The key point is the trustee still being in office. If that is the case, then any payments will go to the trustee for the benefit of creditors.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
03/03/2013 1:18 pm
Unless the total payment(plus ptd payments to date) would repay you debts in full plus trustees fees plus statutory interest if applicable. Only then would you possibly get anything back from a ppi claim.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
03/03/2013 9:12 pm
Thanks for the summary jimmybee. I'm sure you'll have saved many new forum readers a bit of time reading through various threads with that one post!
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
03/03/2013 9:20 pm
Hi. If I am in a PTD and have a secured loan that I continue to pay. I have thousands left to pay on it and I start a PPI claim with them. They uphold my claim and I ask that they pay the claim monies into my loan balance instead of back to me ( or my trustee ) via cheque. Is this OK? Technically I would be benefitting, no?
xxx
03/03/2013 9:36 pm
Hi there.
I think your trustee might take issue with that.
You'd also need to be conscious about the generation of equity in the secured property.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
