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Topic starter
19/11/2013 1:06 pm
Hi I am looking for a little advice. I have completed my TD and the company involved are now completing PPI claims on my behalf. One of my creditors have come back stating there was PPI on an old loan. My TD company has given me the reference for this loan, of which I have no records. This loan was not part of my original TD and I am unsure if any potential redress from this claim should go to my TD provider. Frankly the have delayed the whole process and the fact that this matter is dragging on is very stressful and time consuming. I have asked my TD provider to give me the details to contact the creditor directly for more information on this loan as I do not recognise this account number.
How far can PPI be claimed back, my understanding was 6years. I do not recall this loan and cannot confirm when this was taken out but want to confirm this before allowing my TD provider to put in any claim.
I would really appreciate some advice on where I stand on this. My TD company are stating any potential redress of this PPI would go to pay any of the creditors included in my TD even if this loan wasn't. Is this correct? It was my understanding that any PPI redress could not be offset against any debt that has been written off by a creditor.
Many thanks
Lizzie
19/11/2013 1:28 pm
Your PPI compensation would go into the pot to pay your creditors regardless of if the creditor/loan was included or not.
Not sure if the PPI thing should prevent you from being discharged though
19/11/2013 1:32 pm
Hi Lizzieyg
As mentioned above, any PPI payment for debts incurred at any time prior to the signing of the Trust Deed will go to the Trustee for the benefit of creditors. It makes no difference if the debts were part of the trust deed or settled before it was signed.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
19/11/2013 1:46 pm
Hi both
Thank you for your help. The PPI shouldn't affect any discharge should it as m TD actually completed in November 2011.
Am I right in saying the TD will be removed from your credit file 6 years after the TD was signed?
Thanks Lizzie
19/11/2013 2:01 pm
Hi Lizzieyg
No, normally the trustee will discharge the person in the trust deed and remain in office to deal with any PPI, pay dividends etc.
The trust deed will be on your credit file for 6 years as you say.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
19/11/2013 2:29 pm
quote:
Originally posted by Lizzieyg
.......Am I right in saying the TD will be removed from your credit file 6 years after the TD was signed?
Thanks Lizzie
As should the defaults! have you checked your credit reports to make sure the creditors have marked the default date for each of your accounts as the date your trust deed was protected.
You can write to each of them and ask them to update the credit files. doing this will see them all drop off November next year, giving you a clean bill of (credit rating) health! there is a link somewhere on this site with letter templates to send to them
Topic starter
19/11/2013 2:32 pm
Thank you again to both, that's been very helpful.
Lizzie
