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Topic starter
14/09/2012 7:20 pm
hiya
I am in a trust deed with wilson andrew's, which has almost been running for 12 months now. A few months ago they contacted me saying they are going to look into PPI claims on my behalf so i gave them the information they required .
Today i recieve a letter from the bank saying they are offering a payment of almost £3500. My question is can i get any % of this money back ? I just dont feel that they have the right to take the full 100% especially since some of the PPI was on credit cards that were NOT included in the TD and were fully paid off Years prior to my TD.
I am planning on contacting them asap and speaking to them about this. Just looking for any information if possible.
I read that it may be possible to get the 8% interest back, any truth on this ?
14/09/2012 9:45 pm
Hi db1980.
A lump sum received during your trust deed would be considered to be a windfall, or acquirenda.
Irrespective of whether it relates to accounts inside your trust deed or pre-dating it, it's an asset that vests in your trustee under the agreement you signed.
The beneficiaries will be your creditors, who will end up writing off less of what you owe to them as a result.
It may well be possible to get interest repaid, but again I'm afraid the beneficiaries will be your creditors.
Sorry it isn't better news.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
15/09/2012 9:48 am
Thats the deal with trust deeds,you get interest and charges frozen but if you come into money during the term you hand it over. As TDA says,its for the benefit of creditors who are probably writing off some of your debt so why shouldnt they get this bonus?
On the plus side at least they are looking into ppi nice and early in your TD case,and not waiting until the end.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
15/09/2012 10:39 am
can u claim for ppi after trust deed is finished?
15/09/2012 10:43 am
Hi.
If it hasnt been already you could do.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
15/09/2012 11:12 am
thanks tda,can u recommend any good companies for reclaiming?
15/09/2012 11:16 am
I'd say do it yourself.
There are great sections on MSE and Which that can guide you all the way and save you a fortune.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
15/09/2012 11:25 am
cool thanks again for all your help:-)
Topic starter
19/09/2012 2:36 pm
thanks for the help. I spoke to wilson andrews and it doesnt look like i will see anything from the £3500. 🙁
