Hi LZA

Did you both sign after April 2008? If so, there is nothing stopping you being discharged and the trustee remaining in office to sort out this ppi thing.

Mark

Hi LZA

Sorry, just read your post on the other thread. I'm afraid the option of the trustee discharging you but remaining in office.

I'm amazed however that the trust deed is 4 years old and the have only recently started to look at ppi!

Mark

So is there no limit to the length of time that a company can take to discharge you?

They have a responsibility to maximise returns for creditors LZA, and insolvency practitioners are receiving advice that investigating the potential for PPI claims should be part of this.

If you signed your trust deed before April 2008 you may be stuck until the PPI investigation and any claims are completed I'm afraid.

Of course, delays in your discharge might have been avoided had PPI investigations begun sooner.

i have been trying to be dishcarged from my teust deed for about 8 years now as my husband and i have been separated for same length of time and nothing is moving forward for me can i complain to them as i think they will expect charges for all this time wasted as they now wan to sell the house which i am all for they are saying i will get almost no money from the sale but there is £50000 equity in the house and they are wanting to claim for missold ppi what should i do next

I'm getting royally hacked off with my trustee. After being told things were being moved forward to completion after talking to the firm they use for reclaiming PPI who said they had no case as objections were raised, I'm now getting letters from my creditors asking me to fill in claim forms as they are now dealing with Invocas Financial and need permission for this. Do I have to take out an ad in the Edinburgh Evening News for them to realise I was not mis-sold? I can see me never getting discharged fully.

TDA- 'They have a responsibility to maximise returns for creditors LZA, and insolvency practitioners are receiving advice that investigating the potential for PPI claims should be part of this.'

Is this advice given universally to trustees by an overseeing/ regulating body?
It's probably fairly recent as it's become realistic to expect straightforward payouts where PPI has been part of a loan. Maybe that is why it's impacting on those hoping to get things finished up in the last few months.?

Do you think further advice is likely to be provided for newer trust deeds to identify these claims well in advance of expected discharge?

Hi Pamjo.

I don't know the answer to the second part of your question. It just seems to me that any trust deed provider that has a commitment to good client-care would find a way to get the PPI claims process underway as soon as possible to avoid the risks of later delays.

I think you're right that some of the more recent advice from some insolvency professional bodies may be causing some trust deed firms that weren't previously looking at PPI to commence doing so. That may be contributing to delays. As we've heard from our experts however it seems as though there is little reason for people not to be discharged if they signed their trust deeds after April 2008 (which must be the great majority who are getting to the end of their trust deeds now given that this was four years ago).

thanks TDA

Is there any perceived benefit for a trust deed firm to prolong a trust deed.?

Some companies are really dragging their heels. Other than extensions for other financial or practical reasons, a lot of deeds finishing now will as you say, be ones from a start date after April 2008. Is this (PPI claims completed before individual discharge)just one of the areas where companies can choose how to deal with things?

I'm guessing even people who did enter a trust deed with good information and preparation wouldn't have known to raise this issue at the start.

I have a lot of sympathy for those dealing with apparent shifting of goalposts.

Hi Pamjo

Maybe I'm being cynical, but my suspicion would be either fees or the need to have enhanced 'live cases' figures for the board meeting.

Personally, I like the idea of signing, doing, closing. Nice and easy.

Mark

Mark

I used to reject cynicism at every turn but I agree fees or 'performance' and statistics being required would make a difference.

Surely job satisfaction is higher if you don't have loads of stale files hanging around too.

Hi Pamjo.

It's difficult and expensive for trust deed firms to attract clients (witness the amount of advertising that goes on).

In the days of instant information sharing via social media I'd have thought IP's would be doing their level best to enhance their reputation for providing a good service, doing what they said they would, and attracting positive feedback and client referrals.

You're right about to employee side of things as well. Surely it's better for employees to have up-to-date files and happy (ex) clients.

Hi

couldn't agree with Mark more. If you have kept to your side of the bargain, then so should the Trustee. PPI can continue to be claimed even if you are discharged if the trust deed started after April 2008, and as TDA said, that should be most of you. To have a trust deed for 8 years is madness. If PPI was not mis-sold, then there is no claim.

nicely summed up TDA
A Two sided coin for companies-they struggle to attract clients because of little discussion taking place on the topic but also benefit from little in the way of negative comments.

Shona-I agree it's what's fair isn't it.