Notifications
Clear all
Topic starter
09/09/2011 12:53 pm
I have received an offer from a Bank on my PPI Claim which I wish to accept. However I am subject to a Protected Trust Deed and the Bank have said the settlement amount will be paid towards amounts owed to them. I had thought it would be paid to the Trustee for the benefit of all creditors. Can the bank do this?
09/09/2011 1:04 pm
Hi Carlyt and welcome to the trust deed forum.
I can understand why the bank would want to do this. Whether or not your Trustee will consider that to be reasonable is a different matter.
My suggestion would be to contact your trust deed provider with the details in order that they can take any action they believe is necessary.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
09/09/2011 2:06 pm
Are the debts outstanding and the PPI linked? I wouldn't have thought that a bank would payout £1000 for example, if it was still owed £5000 on the same loan. I was always under the impression that if a bank has your money and you owe them money, then if they want it they'll take it. I had a friend who had some money paid into his old account by accident electronically and he never saw it again.
SkintAlly
