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Wilson Andrews - Letter of Discharge

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Mark McFadyen
(@mark-mcfadyen)
Famed Member
Joined: 17 years ago
Posts: 4798
 

Thanks TDA

The Advice to IP's is limited to

'The general obligation placed upon an IP to determine a debtor's assets would include PPI claims. If the debtor admits that he has been mis-sold a policy the mis-sold PPI claim is an asset'

A couple of points. It does not refer to any section of Act or guidance, although I will ask to have this clarified and expanded. But slightly more concerning is that it was issued in 6 weeks ago, so I am unsure of the guidance followed before that date.

I'll see if I can get someone to expand on this. As you say, it is a topic which comes up more and more and like most things, it would be good (although unlikely) to get a definitive guide.

Mark

Mark is not posting regularly in the Trust-deed.co.uk forum.


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

Hello Happy2.

We probably need to be careful about some of the statements that you are making here.

PPI claims firms may charge for their work. Do you have any evidence that your trustee (rather than the PPI claims firm) received increased payment because of it?

Making a claim for PPI associated with a mortgage, if it was missold, is reasonable. Trustees are instructed by their regulators to investigate whether PPI (of any sort) claims might help to repay the creditors. This isn't particular to your firm.

Lots of insolvency practitioner firms are highly professional and work really hard for their clients and the involved creditors. Your general assertion about client-handling is therefore unfair and incorrect, though I understand that you are frustrated with the service that you personally received.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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