Welcome to the trust deed forum lewby.

The honest answer is that there isn't much benefit to you, your trustee is trying to ensure that your creditors are repaid as much as possible. Their regulators have told them to look at whether PPI claims can help with this.

The fees for the claim should come from any payout made.

I hope that helps to explain?

Hi lewby

It is not beneficial to you, it is beneficial to your creditors if successful as the Trustee has an obligation to your creditors.

I am unsure what you mean at your second point. If a PPI claim is successful, this is completely separate from your contribution and you would still require to meet the contributions agreed at the start.

Mark

Hi TDA and Mark,
thanks for your prompt reply
Mark my second question was that if the third party was successful in claiming ppi, would i be liable for their paying their fees?
TDA answered that the fees should be paid from any payout.

Is this normal process now? i was a bit dubious when i got the letter
what if i was due PPI from debt that had been paid off prior to my TD?
L

Hi again lewby.

I wasn't certain about the second question; I think Mark and I collectively covered the bases!

This is normal now. The professional bodies that oversee insolvency practitioners have told them to look at PPI claims as a potential route to maximise creditor returns.

I'm afraid that the connection between a particular debt and your trust deed isn't relevant. Any possible claims, including those that date from before your trust deed, might help serve the purpose described previously.

thanks for your help...much clearer now
L

yes I have a similar query

I had a number of loans etc pad in full before my trust deed started

these were organisations not due anything from my trust deed

Do I understand if I lodge a PPI claim with for example Alliance and Leicester, and find I am entitled, that I have to declare that ?

Do the trust deed companies run a check on companies not included in the trust deed for example ?

Hi twitcher.

Any windfalls you receive prior to your discharge are likely to have to be paid in. This could be PPI claims, inheritances etc. They'll result in the creditors being paid back more.

Your trustee may seek to investigate all types of PPI claims that could be possible, irrespective of whether the accounts involved relate to your trust deed or not.

ok but does it follow that if you get your discharge and then get PPI from a company not on the list of trust deed creditors then the money becomes yours in full ?

That may depend twitcher.

If your trustee has remained in office to deal with PPI claims (they have not been discharged) then maybe not.

thanks for reply

I can understand if they havent discharged on PPI grounds, but once they do, and you know of other amounts, as the questionnaire only asks you to commit about the ones on your trust deed, and you get discharged having 100% complied with their request ( they dont ask you to declare items in last 10 years not on trust deed ) then my question is do you get to keep the full 100% to yourself then of those specific cases outwith the trust deed ?

I appreciate it may be morally a different question, but I ask really from legality point of view and laid doen obligations you have as party to a trust deed

Hi twitcher.

We cannot give you legal advice, but we can give you an informal opinion based upon what we know.

My thought is that if...

1 - You've fully complied with requests for PPI information from your trustee.
2 - You have been discharged from the trust deed.
3 - Your trustee is no longer in office.

... then there is no reason why you could not retain the proceeds of a successful PPI claim.

We have members that have written here about doing exactly this.

Hi twitcher.

It is probably worth while to note that even if you have old loans more than ten years old that are not on your questionnaire but you have loans on your questionnaire that are from the same company then they may find the older ones. When I made a PPI claim with the Halifax I only remembered 3 loans when I got my claim upheld and received my letter with breakdown they had actually paid out on 4 loans (one I didn't even remember I had). It seems to be common practice with some companies that when you put in a complaint about one account they look at all accounts that you have had with them (that they have a record of) and investigate all.
Hope that makes sense.