Hi catcow,

Firstly... congratulations on having completed the payments into your Trust Deed.

Do you feel that the PPI insurance in question was mis-sold to you?

hi, thanks for the reply, i think most agreements were done on the internet, so there was no discussions about ppi. I may have been missold but i have been told there is nothing in it for me.
The letter i have been forced into signing also mentions recovering bank charges, which were a significant amount.

Hi catcow,

To make a claim there needs to be a basis upon which mis-selling took place. Examples would include:

1 - You were sold a policy you were not eligible to claim upon.
2 - You were told the loan was conditional upon taking the PPI.

Without a reason for alleged mis-selling there simply is no claim.
The fact that you purchased PPI does not mean necessarily that it was mis-sold to you.

If you do not feel that the insurance was mis-sold the only way to make a successful claim would be to make something up.
As this might result in a financial institution wrongly paying out a significant sum of money, making up the basis of a claim could seem to be fraud.

In short, if you feel that the PPI was mis-sold I can see why your Trustee might want to make a claim (though this is pretty unusual... we have only heard on this forum of one company doing this).

If you don't see any reason for mis-selling I cannot see any reason by which your Trustee (or you) could justify making a claim.

It would seem unlikely that they will try a bank charges claim as it appears that the banks have won the legal argument that such charges were fair and reasonable. Though of course they have since reduced them... indicating that they know that they probably weren't fair or reasonable. Strange.

You might want to ask your Trustee whether they will receive a payment from the claims company for the introduction of your case, or upon the claim being successful.