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Scottish Trust Deed Forum
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Topic starter
03/01/2012 4:37 am
i was in a protected trust deed from which i was discharged in july 2010.about 6 weeks ago i made a ppi claim for loan i had, i was awarded £1600 but company said this would be set-off against the loan. as this loan was included in the trust deed can they do this as they have had the payout from the trust deed which states creditors accept this as full and final settlement of debt. so does this mean i owe them £0 and the award should be mine
03/01/2012 8:31 am
This question has been the subject of debate on here before, with different opinions I think. Personally I would say you are right, but in practice I'm not sure how easy you will find it to get the money.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
03/01/2012 9:10 am
Hi luggy93.
To expand a little on Kevin's comments, you might be "correct" but the onus now appears to be on you to force the bank to pay up. That could involve expensive and risky legal action against the bank.
I have mixed feelings on this. Should a bank profit from misselling PPI? Of course not. Have they profited in this instance? Perhaps not given that money has been written off as part of the trust deed.
I think that most of us, if we were creditors that had written off money in a trust deed, would be pretty reluctant to pay out in such circumstances?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
03/01/2012 11:15 am
You may find that contractually as you entered a trust deed normal rules do not apply and regarding PPI reclaims companies retain the right to offset claims against debt(even if it has been written off/partially settled as part of a trust deed).
Unless you manage to repay your debts in full through the trust deed I wouldnt even attempt to reclaim any PPI.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
