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30/03/2019 10:03 pm
I have been reading with interest comments on forums about RBS PPI payments and trust deeds as I am in this boat. I have read conflicting stories on a few forums and came across this forum this evening
Long story short, I entered a Protected trust deed in 2001 (debts around £45k), discharged in 2004 and RBS was one of my creditors(the biggest)and they received 2p to £1 on discharge. Roll onto now and on checking PPI (to which I was sure I wouldn't have had any), apparently I may have it on a few accounts and I have recently received a decision on the first account with an offer of £2.5k.
I have read that people who have received an offer letter, it states on that letter that they have been subject to a trust deed but my letter didn't say that although there was a general note of trust deeds/Iva's/bankruptcy on the letter that gets signed and sent back.
Also, the loans the PPI relate to were from the late 90's. I took out a loan but needed more. So, loan 1 was taken out, then I needed more so load 2 was taken out, partly to pay off loan 1. Then I needed more so I took out another loan, paid off loan 2......and so on, until I was in the position of going down the trust deed route.
So, I am just wondering, should I expect a cheque if they have not mentioned I was in a trust deed in the letter received with an offer or will that come instead of a cheque?
Any thoughts or peoples experiences in a similar situation would be appreciated
01/04/2019 8:47 am
Hi kdyguy.
Sorry to say this, but if they're aware of your trust deed I think it's highly likely they'll hold onto the funds.
Insolvency checks are often undertaken right at the end of the process.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
01/04/2019 9:17 pm
Many thanks for the reply TDA
Topic starter
30/04/2019 7:32 pm
Well, RBS text on 2nd April to say payment should be issued by 29th April but to date nothing has arrived. I am guessing they have withheld funds for off set as I am sure a cheque would have been issued by now if they were paying out. Awaiting a letter instead!
01/05/2019 9:06 am
Sadly I think that's likely kdyguy.
If this is the case there's still always the chance that the position will change in the future.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
02/05/2019 11:21 am
Well, I received the dreaded letter today. What a palaver to get to speak to someone in the DMO, kept saying I failed security and to go into my branch to update my details! Anyway after 4 calls and about an hour later, transpires they have my old address from 2004 on file so thats why I was failing. So.........payment has been offset against my debt, and although I said they received a full and final settlement payment, apparently it was a partial final settlement figure and the PPI goes towards my debt. (£3k PPi against £16k debt outstanding they say).
I mentioned the court case and I was initially advised that it doesn't apply to my case, then aftre a bit of discussion the advisor said they knew of no court case and what they were doing was correct and following their guidelines.
Anyway, don't know where I stand now. Do I get a solicitor involved? or do I just leave things as they are and see what happens and trust RBS will refund automatically if anything changes?
02/05/2019 6:11 pm
A shame kdyguy, but not unexpected sadly.
If it were me I'd sit tight and monitor whether the position changes.
You could spend a lot of money on solicitors and get nowhere. That's just a personal opinion though; it's your choice.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
03/05/2019 10:32 pm
Thanks for the advice, I agree. Never thought for a minute I had PPI and just decided one day to check after reading on a travel forum I am on about others on there never thinking they had any yet did. Have already banked over £5k from elsewhere so its all a bonus anyway, no point wasting money chasing RBS. Thanks again
Topic starter
09/05/2019 4:22 pm
I received another letter today about 'setting off' , explaining how it was the banks right to do this when there was any outstanding debt. It says I also have 6 months from the date of the final letter to appeal to the ombudsman, is it worth doing this? Would the ombudsman side with myself in light of the court case decision in 2018 siding with the debator?
10/05/2019 9:05 am
Given that we believe RBS are appealing that decision then I'm not sure how the ombudsman would look at it to be honest.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
10/05/2019 3:40 pm
Hi kdyguy..............if you look at my note on the RBS v PPI update you will see the Ombudsman comment to myself, as I have a claim in with them re the RBS set off.
Topic starter
12/05/2019 3:43 pm
Thanks for the reply, will see what happens over the coming months!
13/05/2019 10:35 am
I'd suggest putting a complaint into the Financial Ombudsman Service.
It might not result in things happening now, but failing to do so might enable RBS to claim they don't have to deal with your complaint in the future (if things later move against them).
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
14/05/2019 7:57 pm
Ok, many thanks for the advice. I will do
16/05/2019 8:02 am
Hi kdyguy
I complained to the Ombudsman back in December last year and they are still dealing with my case. As long as you have complained to them, they then need to wait on RBS coming back to them
Hope this helps
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