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Topic starter
08/12/2014 5:05 pm
My TD is finished however the trustee has not discharged as still looking at PPI
I had a secured loan for around £30,000 which wasn't included in the PPI. I believe this is the last PPI to be looked at. It appears that a PPI refund was issued about 2 years ago but the refund of about £3,000 was deducted from the balance of the secured loan.
Should this have been deducted from the balance of the loan or paid to the Trust deed?
08/12/2014 5:15 pm
Welcome to the forum wr1970.
Your trustee will probably consider that it should have been paid over to them. Whether the lender will choose to do that now I don't know.
Did the lender give you the option of it being taken off the loan sum due?
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Topic starter
08/12/2014 5:21 pm
thanks for the quick reply
There was no option, the refund was added direct to the loan which reduced the balance.
Looking at other posts on here I think its common for the lender to reduce the debt with a PPI refund
08/12/2014 5:46 pm
One or two lenders certainly do that, though whether they should be able to is a different matter.
I imagine your trustee may well try and get that money back from the lender. If they can't then they might ask for it from you instead I suppose.
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