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Scottish Trust Deed Forum
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23/08/2012 8:02 pm
Hi this is the first time that I have used this site and I am as my name states confused. I paid my last payment to my Trust Deed on 1st March 2012 and it took until I read these forums and quoted to my trustee that I should be discharged whilst the deal with my PPI claims to get my discharge. This came within 1 month of me quoting this to them.
The question I have is is it Legal for a trustee to claim back you PPI at such a late stage. I would have thought that this should have been done throughout the term of being in your trust deed. I appreciate that PPI is a new thing and I am confused because some forums have said that some companies do not chase the PPI so is there a division in opinion on this matter, bearing the question is this legal and above board.
Please advise and in particular advise me what part of the Act this comes under. Before I hand money over to anyone I want to know my rights and where I stand by law. It has now been 4 years since the day I signed my trust deed and that is 4 long years.
There should be some consideration by trustee companies that this is a stressful emotional time for the individual and people need closure and to be allowed to put their mistakes to rest and move on instead of being constantly hindered by such a burden on their lives.
I am just looking for answers to this question and in particular why and why is this not mentioned when singing a trust deed? Why is this not spoken about during the term of the trust deed.
Sorry for going on as you can see I am confused!
24/08/2012 12:37 am
Hello confused and welcome to the trust deed forum.
I think it's a case that you could be discharged rather than you should be. A minority of firms seem to have decided that they will not. I'm glad that you were and that this site was useful in making that happen.
Legal advice is outside of the scope of this site so we cannot help on that score. However, in fairly recent times the organisations that regulate trust deed firms have instructed them to investigate whether PPI claims could boost creditor returns. They therefore now have little choice in the matter.
As a fairly new change to the well established process, trust deed firms have had to choose how to meet the regulatory expectations that they are subject to.
We certainly have heard that some firms have been more considerate about the interests of their clients in terms of PPI than others.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
