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Scottish Trust Deed Forum
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Topic starter
28/02/2012 3:28 pm
Hello
Just a quick question.
My Trust deed has come to an end this month and now it is just being continued until I can repay my arrears of £6000 including the equity in my home. This I do not have a problem with.
My Trust deed got in touch with me to say they were going to do checks to see if I was due any money back from the PPI from my accounts.
The question I have is that what happens should they find that i am due anything. They advised that any money that comes back from this would go straight to my creditors.
My question is this, does the full amount go or am I not entitled to half of this.
Thanks..[:)]
28/02/2012 3:36 pm
Hi tompie1980.
I'm afraid that you should expect the full amount to be paid into your trust deed and therefore to help repay your creditors.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
28/02/2012 3:50 pm
Hi tompie1980,
TDA is correct in this matter, the full amount will go to the Trustee to pay the general body of creditors.
Chris
Chris is not currently posting in the Trust-Deed.co.uk forum.
Topic starter
28/02/2012 3:58 pm
Oh ok then I just think its kinda of silly that the banks and credit cards will have to pay themself this money as its them that is loosing out as a third party will take a percentage of whatever is reclaimed yeah. Would it not just be better to just put a mark or something against my name to say that I could not claim for this thing in the future.
28/02/2012 4:04 pm
Hi tompie1980.
Any creditors that you have which missold PPI to you will lose out financially.
Any creditors you have that did not engage in this malpractice will benefit financially from those that did.
There's a good element of justice there.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
28/02/2012 4:17 pm
Yeah suppose I never thought of it like that. Ah well.
Thanks very much again this forum has proved much usefull..
28/02/2012 5:22 pm
some creditors appear to be offsetting ppi reclaims directly against what money is still owed on defaulted accounts. So many creditors who did engage in the art of skullduggery are benefiting,sort of?!?
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
28/02/2012 5:53 pm
Not if they don't collect the money Paul?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
