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Scottish Trust Deed Forum
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Topic starter
12/10/2014 11:24 am
On entering my trust deed 3 years ago my Trustee set about seeing if I was entitled to any PPI.
3 years on my trust deed has been completed and I have been discharged.
The letter that I received stated that PPI was still being investigated and if I receive any payment then it should be returned to my trustee.
Anyone I have spoken to says PPI takes a matter of months not years to sort out.
I have no idea why it has not been resolved or fully investigated by now but my theory is Trustees are taking so long to deal with this so they can charge excessive fees.
If I am granted a refund through PPI and I return it to my trustee how do I get proof they have actually paid the PPI to my creditors and what percentage should be fees?
Thanks
12/10/2014 12:11 pm
Welcome to the forum Asmodi.
Some banks have behaved appallingly to delay and frustrate PPI claims. Long delays aren't unusual.
You should receive a breakdown of what's gone to creditors and what has been charged in fees once distributions are made.
Your creditors can challenge your trustee's fees if they consider them to be excessive.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
13/10/2014 12:32 pm
TDA is correct. A number of PPI cases can complete in months, however a similar amount will be delayed due to the bank or if matters are passed to the Ombudsman to investigate.
I would be surprised if a Trustee purposely extended a case as described as they are subject to reviews from their governing bodies.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
