So where do we go from here? Just wait for RBS to get in touch?

Just had this update :

We are still awaiting further information from our Legal Team regarding the Bank's position. I have been informed however that once this has been established the Bank will be writing out to all impacted customers

Received a letter from the RBS yesterday, asking me to confirm my details on an old account within 28 days. Anyone else had a similar letter?

Here's the Pinsent Masons opinion presented again in today's The Scotsman:

https://www.scotsman.com/news/opinion/columnists/court-session-ruling-allows-banks-claim-debtors-ppi-cash-joanne-gillies-3116033

“The Court decision highlights that although insolvent debtors with PPI claims may have been discharged, the underlying debt owed to the creditor is not extinguished and that following a reduction of the discharge, which the Court has suggested is permissible, the creditor may set-off their PPI claims liability against sums due to them.”
So pi nsent masons view is that debts are not extinguished?? Is that not the point of a trust deed or am I missing something? Can they make this claim?

We don't know what RBS will do or whether the solicitor's viewpoint will stand up Mb77.

Certainly Candlewick (who has looked at this closely) commented, after this was first reported on Pinsent Masons own website, that...

"I haven't seen that much spin since the last time I went on the Waltzers!"

I don't know what anyone who has an interest in this can currently do other than wait and see what happens next.

Hi mb77 waiting game just now should get an answer in 28days ,

Thank you for the responses, much appreciated

This is a biased interpretation and spin as suggested before. Both sides can interpret to their benefit. For me the key thing here is that i feel Mrs Donnelly will be paid out here as will anyone else in the same circumstances. Yet again RBS trying to mitigate damage!
Had they been in the right, why would they set aside hundreds of millions of pounds to pay claims?

I'm concerned how this may impact on the past. I've been discharged since the early 2000's and since then have turned everything around and in a great place. Would hate for this to have any impact on what I thought that everything was settled. Seriously thinking of just letting them offset and forgetting about this.

Hi kdyguy you have nothing to be concerned about I'd wait and see what rbs sends out .all the other banks paid out ppi after a trust deed discharge without blinking ,it's rbs in the wrong being the worst offender in regards to ppi claims .

Another law firm with their take on the process.
https://shepwedd.com/knowledge/protected-trust-deeds-and-assets-discovered-after-debtors-discharge

However, what is clear from this latest decision is that the “equitable considerations” will need to be in the creditor’s favour before the court will be willing to exercise its discretion in favour of the creditor. If a number of years have passed since the discharge was granted, or the asset in question is not particularly valuable, then those are likely to be factors that will weigh against a creditor. The judgment also suggests that the creditor will need to provide for re-appointment of a trustee to allow the debtor to be discharged once the relevant matter had been dealt with. So, while reduction of the discharge from a trust deed is, in theory, possible, it could be very challenging for creditors to persuade the court to agree to this.

Might be a daft question but curious:
Do we ever know what is paid back to all creditors once a trust deed is complete? I ask as I’m curious as to how much my ppi payment goes against that. So, say I borrowed 5000 and this was all paid back to them - can they still hold onto it?

I was discharged 6 years ago but can’t remember getting any acknowledgment of that?

No daft questions on here, leeper1974.

The final amount paid back to creditors is shown as a pence-in-the-pound figure on the closing paperwork of a Trust Deed, of which you should have received a copy.

If there is PPI that they bank is trying to offset against outstanding debt, this judgement says that they would have to convince a Sheriff to reverse your discharge and have a trustee reappointed to ensure that funds are being shared out between creditors fairly. It isn't clear whether RBS intend to do this as a matter of course yet but if they did then you would only receive any back if all the debts were fully repaid from the PPI funds.
Alternatively, RBS may decide not to go through the above process, in which case the PPI money would have to be paid out to you in full.

Thanks!! I’ll try dig up the paperwork.