Hi Julie1988

Although you were discharged in December, your Trustee may not have been discharged if they were looking at PPI. If this is the case, then the funds should go to your Trustee for the benefit of your creditors. If the Trustee is discharged, i don't see how the Trustee can get extra funds, but then again, I don't think eWelcome will pay it to you either. If you had not been in a Trust Deed, then welcome would have used it to reduce te balance outstanding. Sorry!

I recieved the letter from FSCS (Financial Services Compensation Scheme) saying I was entitled to it. I informed them at the time of applying that i had been discharged from my trust deed.

My trustee i dont think claimed back the PPI as i recieved no paper work informing me of this.

I dont understand how they can simply offset it against the welcome loan and not have it offset against all my debt.

i did pay 1 year of my welcome loan there for one year of my PPI would i not be entitled to atleast this back since i did pay that????

The fact that i was discharged and so was my trustee does that not mean my debt was satified. therefore me claiming back PPI cant be offset against a loan that is satified and closed of can it???

No you are right, it cannot be off-set against a loan that is closed, but I think Welcome will pay it into their write-off account to reduce the value of write-off's. I am not saying this is right, but I would not hold your breth waiting on money back. If the FCSC say you are entitled to it, why don't you show that letter to Welcome, and tell them you will take it further if they don't pay out? Worth a try!

Yeah i will try that.

I am not even looking for all the money however i did pay 1 year out of a 3 year loan therefor

Hi julie1988.

I wish you well in getting the outcome you hope for. I do have some sympathy with the position of the lender though; I think most people trying to see the situation through their eyes would understand their reluctance to pay out after writing off a significant sum after your trust deed?

Hi...

I have looked out my original trustdeed paper work..

Welcome had an outstanding balance of 3472 pound when i singed my trust deed.

the fscs state i recieved a payment fo 1378.91and after offsetting this i still owe 1404.95.

They have already recieved the payment ftom my trustee there for that payment was made as final payment for outstanding debt.

why would welcome think they are entitled to the full 1378.91 when no other creditor gets it.

I am not saying i want the full 1378.91 as i only actually paid one third of my loan before entering the trust deed. surely i am entitled to get this back?? they are the ones that miss sold me it.

Also considering I borrowed 1700 from them and they charged 5k for this i dont really feel sorry for them. they lost out on intrest not the original loan ammount. I also paid back 10000 in total out of 19000 debt.

I will try calling welcome tomorrow as if i can not have the refund i want to make sure it is shared equally and that welcome are not benifiting when other companies are not.

Please let us know what you hear from them julie1988.

I'm sure a lot of forum readers will be interested.

Hello

After a very busy 2 hours on te phone this evening..

I contacted FSOC they said that according to the FSA guide lines they must pay the money to welcome if welcome have stated that they have an outstanding balance on my account. However they also said that welcome have clearly failed to update there records falling my discharged and if they had the money would have been sent to me and not them.

They have given me the number to call welcome directly and recover the money (fat chance I know)...

I also called the Citizens Advice who adviced me that according to there records When a client is discharged from there trust deed from the discharge date all debt MUST be written off unless they were not informed of the trustdeed. (welcome were more than informed of this and infact had to be called directly by my trustee for hassling me at my work (on my work phone line and hasseling my wages department)5 days after my trustdeed became protected.

I have been adviced to contact SLAB recarding this matter as they are not ahearing to the law surounding the disharge of my trustdeed.

Also in by not writting of the balance when they should have and not marking it as satified they are also affecting my credit rating in the future. It should have marked as satified in December.

I will keep all updated..