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Scottish Trust Deed Forum
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Topic starter
09/03/2013 3:12 pm
Hi and thanks for reading.
My husband and I successfully completed a Protected Trust Deed and we were discharged in October 2011.
A couple of months ago we discovered that my husband had PPI on a loan dating back to 1998 with Barclays.
We had a current account with Barclays (no relation to the loan hubby had paid off years earlier) that had an overdraft circa £1400 and that was wrapped into the Trust Deed when Barclays agreed along with all of the other creditors to do so.
So my question is...do we get to keep the £1200 PPI offer we have had from Barclays relating to that loan from 1998?
I hope we do because it was never part of the Trust Deed and we were unaware of its existence until a couple of months ago.
And surely the bank can't keep it to pay off the overdraft because they agreed to waive that figure as part of the Trust Deed (accepting 35p in the pound instead)
But advice from all the better-informed people on here would be greatly appreciated!
09/03/2013 3:59 pm
They may try and offset it against any debt they wrote off but worth trying as long as you dont use a ppi chasing company who will snaffle 30%.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
09/03/2013 6:23 pm
Hi BouncingBack.
Some companies are trying to offset, others not.
Nobody is certain about the legal position as its untested as far as we know.
As Paul has said, so long as there isn't a commercial PPI chaser involved you've got nothing to lose by trying.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
09/03/2013 9:22 pm
Is your trustee discharged too bouncingback? It might be worth checking the register of insolvencies if you aren't sure. If they aren't, then they may be able to claim these funds.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
