Sic semper evello tyrannis

You're certainly bringing this site up in the world culturally pinalta. And increasing traffic to Wikipedia!

Did I mention I have Higher Latin.

I knew it would come in useful one day and 32 years later......

Mark

TDA you are as always Semper Paratus .

Lol. Feeling left out. All I got was a GCSE in woodwork and physics!

Tonyd

Hi Tony

At least you'll understand the reasons for your cup stand falling apart!

Mark

What can my Trustee do about his fees ? , it states in the letter that if my creditors wish to have his accounts audited they should contact the AIB.
Given that the AIB has given its determination , but the statement of accounts shows the balance after the deduction of his latest fees , with it also saying that if there is no objection he will record his fees as approved . He also goes on about further delay about PPI even though this was claimed 2 years ago , and further delay due to the AIB audit , well the PPI claims are done and dusted , the AIB audit complete , yet another fee building exercise to claw back the reduction of his fees ? .

Got a letter today from MBNA , it states that there was a error in my PPI refund , and £679 . 11 was to be returned to me , given that my offer of composition was agreed a year ago would this be paid back to me ? , also says £56.20 was taken off through UK with holding tax , what is that all about ?? .

Hi pinalta.

If you're not discharged I'd imagine the PPI payment will go to your trustee. I'd be guessing as to what they'd do with it.

Certain elements of PPI claims may be taxable. I don't know, but perhaps they're passing an amount directly to HMRC?

Hi TDA

You are correct on both points. Any PPI payment would be paid to the trustee if he has not been discharged. PPI payouts are in 3 bits.

The first two constitute the compensation. They are:

A refund of the premiums paid
Interest you have paid on the premium

The third part is additional interest on the compensation at 8% per annum (not compounded, so no interest on interest). It is this part that is taxed.

Some will deduct the tax at source, however most will pay it directly to the trustee who will require to account for it.

Mark

So does that mean my offer of composition is out the window , does it not state that upon acceptance of any offer by my creditors the deed shall terminate ? . if so any surplus would be returned to me .

In hoc signo Vinces

Perhaps pinalta.

But the folks paying out your PPI claim will send it to your trustee if you're undischarged. Otherwise they're at risk of having to pay out twice.

Then it's over to your trustee...