That's a very tough one Bampot, perhaps a bit of a "how long is a piece of string" question.

You'd hope that they'd ensure that the claims operator is pushing things along as quickly as they can, but beyond that it's a little out of their control.

Will those that sold PPI to you accept that compensation is due? They might do, or they may add to the timescales involved by rejecting any such complaints or claims (perhaps even for good reason).

That side of things is really outside of the control of your trustee so it must be hard for them to set an expectation on timescales until they are in a position to discharge themselves.

I am pleased to hear that you are being promptly discharged having completed your obligations to the trust deed.

Hi Bampot

Unfortunately the trustees discharge is outwith their own control.

The ppi thing would allow for a finite time period before discharge, however there was a ruling last year on VAT and this has also been thrown into the mix. However your discharge should be the main issue.

Mark

Thanks TDA
So indefinitely then? I am pleased to be discharged though I do feel sorry for those whose trust deed firms are not playing ball, especially having adhered to their side of the bargain. I do understand the need to investigate PPI. I do not understand why it should take so long. We are told by banks etc that claims will be dealt with and a decision made within 8 weeks. Why is this not the case is these set of circumstances? I do not have PPI on loans or CC's. Surely that's straight forward and should therefore not delay the trustee's discharge.

Thanks again

8 weeks is the period in which banks are expected to deal with things Bampot.

"Dealing with it" from their point of view may however involve formally rejecting a complaint or claim. That could then lead to time-consuming Ombudsman or legal procedures.

If you never purchased PPI this really shouldn't take too long though. Hopefully the claims operator can tell the trustee that there is nothing for them to chase pretty soon.

We were discharged in january and rsm tenon anticipate being able to discharge themselves by august. We have no ppi but they are investigating regardless!!!

Paul

I was discharged from my Trust Deed in Apr 2011. I recently received a letter from the Debt Recovery Specialists that managed the deed advising that they could act on my behalf and make a PPI claim. I wouldn't need to provide anything as they have all the information on file. That's lucky as I never kept any loan agreements or evidence other than statements and demands. My debts were, in the main, a bank loan and credit cards so they have advised that it will take approximately 8 weeks to receive confirmation if I am entitled to a pay out. They seemed confident but to be honest I did pay an insurance in case I lost my job and it was built in to the repayments. How can they prove that this was miss-sold? Also, as I've been discharged I would receive the repayment. Recently, I couldn't get credit to buy a new sofa and had to buy it in a relatives name and make the repayments to them. So that will be the suite paid if the clam is successful. I have also purchased 2 cars this way in the past 7 years. Will I ever get credit again???? Seems strange that I had to go bankrupt to ease my problems and now the bank could be paying me back. I can't get my head around it. Is it a case of their word against mine? Could I say I was confused and just signed because I needed the money?

Hi neelia.

There are a number of grounds under which PPI may have been mid-sold even if it was an insurance cover that you wanted.

Some credit providers may seek to withhold PPI claim payments if they have also written part of your debts off.

I cannot answer your question about getting credit again as there are so many individual variables involved. We have plenty of forum posters that have completed protected trust deeds and been able to access various types of credit afterwards.

Received offer on RBS loan that was refinanced 10 times before entering in to Trust Deed in 2008. They have offered over £17,000 in mis-sold PPI for this refinanced loan. At time of entering Trust Deed the loan was valued at £24,000 so have recouped interest over the time lapsed. The original loan started in 1997. I'm over the moon. Mind you I will need to pay 25% to the recovery firm but looks like it's going to be a good Christmas this year.

I signed offer and sent back forms today so fingers crossed the cheque will be in the post soon.

I would urge everyone in or entering a Trust Deed to claim PPI. It may reduce your debt substantially. I wasn't expecting as much as this. I hope RBS confirm receipt of my offer soon.

Hi neelia.

We've read very often here that RBS set-off such PPI payments against debts that were previously included in a trust deed.

How much did you owe them in total?

Do you know how much they got in a dividend from your trust deed?

£24k. Have been advised by MacKenzie Stewart that as the deed has been discharged they will not offset. Was not very much pence in the pound from memory but this hardly seems fair now. I read the offer letter and they will offset if I am subject to a live deed. I hope that this isn't true for me.

Just checked all the paperwork for RBS. Debt was £23,000 @ £0.2796 so £6,000 to loan and now £17,000 offer for PPI? Is the writing on the wall with this? Need to check if the accounts were closed after settlement or could they reopen to settle the debt. Excitement now gone.

I'm afraid that McKenzie Stewart are most likely mistaken. I got an offer that was set off after discharge - of all the banks, RBS are quite terrier-like in their determination to keep the money, sorry to say.

Hi neelia.

Tanyadm is one of a number of posters here that have reported the same outcome.

One of the issues seem to be that RBS send out their offer letters before they do any insolvency checks. That creates hope that people are going to get paid for obvious reasons, but then the position seems to change once they've done their checks.

I hope this doesn't turn out to be the case for you but I suspect that it will. Maybe McKenzie Stewart have got a different angle on this if they've so confidently told you that RBS will not offset. I guess we'll have to wait and see. Please let us know what happens.

I think it stated in the offer letter to me that if there was live or historical debt, then it would be recouped from the offer. I also got a separate letter about being in a trust deed - however, I stated in my application that I had been in a trust deed.

Disappointing, Neelia, but don't want to get your hopes up! I've got a multi-stranded complaint in with them - not about the set off, because I don't think that's entirely unfair (a wee bit, but not entirely!), but about how they handle things. I got an email earlier to say they will respond next week after they've finished their investigation, so I'll update then. Let us know how you get on - I will be VERY interested if they do pay you the PPI redress direct!