Notifications
Clear all
Topic starter
19/06/2013 8:47 pm
Hi, I have been following the site with great intrest for the past few months and have found a lot of very useful information during this time. This is the first time I have needed to ask a question so here goes. I am now entering the last year of my Trust Deed and a few months ago I was asked by my Trust Deed provider to fill out some forms with regards to claiming some PPI which they felt I may have been owed. Whilst I was at work today I had a call from my provider to say that there had been some success in my claim and they would be in touch in a few weeks to let me know the full outcome. I am aware that I won't personally see any of this money and that is fine but what I would like to know is will this money go towards my existing TD agreement and perhaps lead to it ending a little earlier or is it added to the pot to increase what I pay back. Thanks in advance for any help
19/06/2013 9:14 pm
Hi jambodoug
Unfortunately no. It's dealt with as a separate 'asset' and does not have any effect on your contributions.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
19/06/2013 9:27 pm
Hi Mark
I thought that this would be the case, many thanks for your quick response
19/06/2013 9:29 pm
No problem. Glad to help.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
19/06/2013 9:54 pm
Hi, can I also say that the money will be put into your account and it's up to you to transfer it over, they also know that this has happened as they get an email telling them that money has been handed over to you... So there is no chance of you sneaking any off it lol.
This is what happened to us anyway but some might do it differently..
Topic starter
19/06/2013 10:01 pm
Thanks Bravator, that means I will need to show some self control. A lack of which has put me in a TD in the first place! lol
19/06/2013 10:11 pm
what would happen if you received a ppi claim after trust deed had been discharged as well as the IP being discharged, I suppose it could happen if you didn't include a credit card or loan as part of your trust deed or is that nonsense.
19/06/2013 10:47 pm
Unfortunately the funds are required to go to the Trustee over and above the Trust Deed agreement. Some institutions send the money to the client however in my experience most I the time the funds are sent direct to the Trustee, if the Trust Deed is still ongoing. The Trustee is copied in to all correspondence you receive so they should be expecting the funds.
Rob is not currently posting in the Trust-Deed.co.uk forum.
19/06/2013 10:49 pm
If there happens to be a PPI payout post trust deed and both parties have been discharged, then there is nothing the Trustee can do and the client would receive the funds. It would be very unlikely that the trustee would seek their discharge without investigating the PPI though.
Rob is not currently posting in the Trust-Deed.co.uk forum.
20/06/2013 10:34 am
Some banks will simply offset the PPI refund against your debt
