Hi donnakebabs

It's good to see that the company you approached didn't let you proceed as you would have been left to pay their fees. I certainly wouldn't claim any mis-sold PPI yourself, I'd mention it to your trustee and see if they are interested in claiming this to go towards your trust deed. I don't know if the fact they were prior to you signing you TD will be a deciding factor or not but I'd ask the question now.

AB

my trust deed company was very interested in contacting other companies regarding PPI

Hi all

I think the guidance is certainly pointing towards IP firms chasing these. That said, the should not be a reason for delaying a discharge of the individual in the majority of cases.

Mark

Welcome to the trust deed forum donnakebabs.

I totally agree with the comments from AlphaB; it will be best to contact your trust deed firm and follow their guidance.

The PPI claims firm has advised you well which is good to hear.

this has got me a wee bit worried. my IP is pursuing PPI claims as part of my trust deed through a company. i never asked for this and didnt have a choice. does this mean im going to get a bill from the company for the work they are doing??

(my last payment was Jan this year, but IP wont issue discharge till PPI claims have been investigated).

thanks

Hi andy.

I don't think you have anything to worry about.

If a claim is successful the fee should be deducted from the payout in your case.

It's different because the claim is being conducted by your trustee rather than you individually.

Can one of the IP's please disclose whether or not they receive a referral type of fee from whatever PPI reclaim company is recommended to their clients,if a reclaim is successful? Just for absolute clarity on the ins and outs of this recent change in practice.

Paul

Hi plasticdaft.

Not all of the firms here are currently mounting PPI claims as part of trust deeds, though it does seem increasingly likely that they may choose to given the guidance which is being issued.

When we have spoken to the four firms that post here (none of which included PPI claims until a little while ago) the reconsideration of the situation is being prompted by guidance rather than commerciality.

I'm not sure whether any of the firms will choose to answer the question you ask as commercial confidentiality may apply. Whether they choose to or not, their regulators will I'm sure take an interest in any commercial arrangements that might exist to ensure that creditors are being treated fairly.

I don't believe there is any type of referral fee paid, Paul. Ethical guidelines laid down by IPs professional bodies prohibit this kind of thing.

Hi all

I'm happy to answer.

I'm not sure of the legals or ethics involved, one way or the other, but I've spoken to 2 firms on the subject of looking at chasing PPI in Trust Deeds and sequestrations and was offered 15% by both as part of the arrangement.

My response was NO THANKS under any circumstances as I cannot see how commission to an IP or any member of their staff could be acceptable. Nice, clean and easy. For the avoidance of doubt, this is my own personal decision on the matter and I have no interest on how other firms deal with these things in whatever circumstances.

Mark

Thanks Kevin and Mark.

Two clear and strident answers on the subject.

Fantastic Mark and Kevin,I really appreciate your answers,I have been hounding many an insolvency firm down south for an answer for over 6 months and got nowhere!!!

The whole ppi while insolvent thing has been handled pretty badly for those in IVA's and I wanted a scottish perspective!!

Some of the heavy handedness of some pretty large firms,threatening IVA failure after 60 months of payments etc etc is flabbergasting!!

I know of several people who have been forced into claiming ppi was mis-sold when they did in fact ask for it to be included on loans etc,but fear of failing their IVA has meant they are now putting forward fraudulent claims.

In a few years time people will be reclaiming against the reclaiming firms having mis-sold the reclaiming packages!!

Paul

Possibly Paul.

Or the banks make take their own action against those that they may come to view as having behaved inappropriately.

There is a big problem if trust is lost between banks and certain IP's.

We've seen stories on this forum which suggest people have been encouraged to make reports about PPI which they feel uncomfortable about, not least where they feel that their vulnerability in the circumstances is being taken advantage of.

Ok its rant time. Prior to our discharge we receieved letters from RSM Tenon telling us they intended to pass our details on to Slater Hayward Law to investigate whether any ppi mis-selling went on with our accounts.
I phoned our case manager in glasgow at the time and she told me she would get in touch with Slater Hayward Law to inform them of our position and they may phone us to confirm that we never had any ppi products on our accounts.

Todays post contains 2 letters from Lloydstsb regarding complaints WE(YES WE!!!) had made over charges and ppi on accounts included in the trust deed. Both letters point our that Slater Hayward Law had no letter of authority to act for us therefore TSB wouldnt talk to them but were informing us that after investigation THERE WAS NO GROUND FOR COMPLAINT!!!! Shock horror,exactly what we told Tenon,yet they ignored us and went ahead trying to claim anyways.

I have no objection to them chasing things up as I understand some people may we tell fibs about having ppi and wait until post discharge to attempt to make a claim,but they could at least have told us they intended to make claims even though we havent even spoken to Slater Hayward Law!!!!

This PPI reclaiming nonsense really does muddy the waters of trust deeds somewhat. I had total faith in my trustee until this point.

There will be no claim to be made on any of our accounts,we may have been frivolous with the cash but we werent stupid when taking out loans etc and knew exactly what we were paying for,and this chasing of creditors for non existent ppi appears to be holding up the AIB website updating our entries to show a date when a statement of realisations and distributions was received,and a date of trustee's discharge.(I understand that these entries dont mean much to anyone but I just want a line drawn under all of this).

Rant over.

Paul