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Scottish Trust Deed Forum
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Topic starter
27/08/2019 10:04 pm
Hi All,
Looking for bit of help - although this is my first post, I’ve been reading this forum for the last few years and found it very useful during my trust deed.
I entered a trust deed 5 years ago and it was great to make my last payment just over a year ago. The trust deed was difficult at times however it was the right decision and so glad I entered one.
Anyway, my question is relating to PPI – With a couple of days ago I decided to do some PPI checks. I was fairly certain I never had any. However, one company (MBNA) has just come back and said I did have PPI on a credit card and have opened up a claim. I’ve no idea of the amount (I stopped using the card about 10 years ago).
However, although my last trust deed payment was a year ago I didn’t receive my Form 5 until May. Subsequently, in mid-July I received a letter from my trustee confirming they were in position to pay the final dividend which I presumed was the end of the trust deed.
However, I’ve checked the insolvency register and I’m still not fully discharged – I presume (hopefully I’m wrong!) that any PPI would go still go to the trustee as I’m not fully discharged?
Cheers
28/08/2019 9:56 am
Welcome to the forum MagicR.
Your trustee has discharged you, because you have completed the commitments that you made. You are fully discharged.
It sounds as though they've remained in office (not discharged) to complete their work on your case.
If they remain in office, I'm afraid to say that the PPI will be directed to them to help repay more to your creditors.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
28/08/2019 10:12 am
Hi MagicR
If you have received your Form 5 then you are fully discharged and have no further responsibilities or commitments to the Trust Deed.
However, any assets, such as potential PPI claims, that existed as at the date that you signed your trust deed were signed over to your trustee to collect in for the benefit of your creditors. Whilst it sounds like the trustee is close to registering their own discharge, if it hasn't happened and the PPI claim bears fruit then MBNA will likely pay the funds to your trustee so that the money can be shared between your creditors.
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