Hi Beloved_Aunt.

They're just investigating the possibility.

The claims company needs to propose a reason why PPI was missold and the seller of the policy has every right to defend themselves if they can demonstrate otherwise.

And because most banks arent contesting claims its a free for all.

Paul

It is a subject that has cropped up regularly on this forum, Beloved_Aunt.
Insolvency practitioners have been told by their professional bodies that they should be pursuing claims where possible and the sheer numbers of claimants, not just those in trust deeds, has really slowed up the rate at which this can be done.

That said, as long as your trust deed was signed after 1st April 2008 then there is no reason why your trustee can not discharge you but remain in office themselves to clear the PPI issue up.

quote:

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Originally posted by Trust Deed Assistant

Hi Beloved_Aunt.

They're just investigating the possibility.

The claims company needs to propose a reason why PPI was missold and the seller of the policy has every right to defend themselves if they can demonstrate otherwise.

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What happens in the case where the claim is put forward, the claims company come up with a reason why it was mis-sold, the person who took out the loan and the protection categoricaly states they knew what they were buying and were mis-sold nothing, the claim is eventually successful and goes in to the trust deed pot. Who is guilty of fraud?

It's a little more subtle than that saabrina.

There are circumstances where someone could willingly buy a policy that had been missold to them.

The seller should be able to defend spurious claims.

Hi
The DMP company I was using (now given notice to) used their claim services to claim back PPI. I signed their agreement prior to even thinking about entering a TD. A refund payment has now been sent and the PPI claim company want their 30% commission. The actual premium amount returned went direct to the current account I closed which was overdrawn so was swallowed up and the interest amount sent to me. However, the interest amount doesn't actually cover their fee! They have yet to invoice me for the fee despite several requests. Would this invoice be covered by the TD seeing as I signed the agreement prior to TD?
Any advice would be welcomed. To be honest I'd rather the PPI interest go into my TD rather than the greedy PPI claim comp!!
Thanks.

Domino - I eventually got my PPI claim fees included in my trust deed - similar circumstances to yours

Kevin, Im just looking at your reply earlier about the date April 2008 and discharge. My TD was taken out in June 2008, is still running as they said they wont discharge me until PPI investigations have been concluded. Any advice please?

Hi Mollykins10.

The rules changed in April 2008 in a way that most firms now consider they can discharge a client that has fulfilled their responsibilities while dealing with any outstanding matters (like PPI).

Not every firm has taken the same view apparently. We hear of a couple of firms in this forum that appear to be unwilling for some reason to discharge their clients in these circumstances.

While the rules changed to make discharge possible, they didn't change in a way that required a trustee to discharge their client in such circumstances.

I might just have to get in contact with them again with this information. Many thanks