I didn't get the full amount of what was offered. After being offered £17000 in PPI plus interest from the loan that put me in to Trust Deed, RBS offset my debt with them and I was paid £6k. So all in all this took 6 months from start to finish. £1500 to pay back to MacKenzie Stewart but still a welcome addition to my bank balance.

A huge learning curve for MacKenzie Stewart not to put in so much optimism with their clients.

You need to look at how much debt you owed before Trust Deed as this will be offset.

RBS seem to be the main culprits in this as they offset against debts.

I think there were posts earlier on the subject and we have numerous cases where there have been several PPI payouts for several creditors. RBS then offset against their debt, but then benefit from the PPI payments from the other creditors when paying a dividend.

Mark

hi there

I too am trying to reclaim PPI from RBS, my TD was discharged in 2009. Are these debts not only written off in the Trust Deed but Statute Barred now as they are over 5 years old? MY first RBS loan was in 1999 - this had PPI on it and was paid off in full then I got another loan in 2001 that had PPI on it which I didn't ask for and then I refinanced this one several times - I cancelled the PPI in 2001 when I say they had added it. So the PPI on my original loan - this original loan was not included in TD as had been paid off in full a few years before I entered a trust deed. Surely they they need to pay me back for that loan? It is nothing to with the TD. Or do they have the "right" to take this money?

Hi weesenga.

As I understand it statute barring (prescription) isn't applicable here as it's been waived in terms of PPI claims.

We can't tell you whether they have the "right" to retain that money. It's a legal question we're not qualified to answer.

There's nothing stopping you from putting in a claim to see what happens.