PPI v Trust Deed di...
 
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PPI v Trust Deed discharge

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(@racingshell)
Active Member
Joined: 11 years ago
Posts: 7
Topic starter  

Looking for advice..........I have been informed by my bank of a substantial refund under a PPI claim.

I was entered into a Trust Deed in 2006 and discharged in Jan 2012, I am not on the Register of Insolvancies and as far as I can trace my Trustee company is "not in office" yet the Tustee has now laid claim to the monies.

Due to the large amount involved, could someone advise a Solicitor firm familiar with Trust Deed laws I could engage to take up my case with the Trustee firm in question, many thanks.


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

Welcome to the forum Racingshell.

If your trustee has been discharged we're not aware of any other situations where they have been able to lay claim to this money for the benefit of your creditors.

However, other types of insolvency can be re-opened to deal with assets that should have been included.

We recently heard here that one trustee was looking into a test case to see if the same could be done with a Scottish trust deed.

I cannot recommend a particular solicitor I'm afraid.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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(@racingshell)
Active Member
Joined: 11 years ago
Posts: 7
Topic starter  

quote:


Originally posted by Trust Deed Assistant
[br]Welcome to the forum Racingshell.

If your trustee has been discharged we're not aware of any other situations where they have been able to lay claim to this money for the benefit of your creditors.

However, other types of insolvency can be re-opened to deal with assets that should have been included.

We recently heard here that one trustee was looking into a test case to see if the same could be done with a Scottish trust deed.

I cannot recommend a particular solicitor I'm afraid.



   
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(@racingshell)
Active Member
Joined: 11 years ago
Posts: 7
Topic starter  

Thank you TDA , mine was a Scottish Trust Deed, like you I thought once discharged and creditors paid they had no claim. I asked the Trustee in question to confirm in writing why he has requested my PPI payments from the bank but he is yet to respond and I have refused to sign the release papers from the bank for the monies to be paid.


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

Well... there is a precedent with other types of personal insolvency in the UK. In some ways it seems perfectly fair that your creditors should benefit from this if it should have been dealt with during the trust deed.

To set against that, we're unaware of this happening with trust deeds in the past. It's probably not your fault that things worked out this way and it doesn't seem unreasonable that a line gets drawn in the sand at some point so that people can move on.

Would you let us know how it develops?

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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(@racingshell)
Active Member
Joined: 11 years ago
Posts: 7
Topic starter  

Thanks TDA yes I will let you know how it finishes.........


   
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