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zander123
Just Joined
1 Posts |
 Posted - 11 July 2012 : 17:56:19
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| Hi made last payment to trust deed in march no contact from trust deed firm then get a letter saying that they are chasing PPI clams that was a few months ago , to day get a letter saying that they are going to claim several companies for PPI and as I when signing the trust deed agreed to help them ingather assets held by me for the benefit of my creditors they are going to try to recover this asset . My thinking on this is what if I dont think that I was missold this PPI and was told all about it at the time I took out the loan is this not a fraudulent claim that I am being forced into by my trust deed firm ? |
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amorphous
Frequent Contributor
36 Posts |
Posted - 11 July 2012 : 18:06:57
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I was about to post the exact same thing....my trustee has told me they are going after PPI on behalf of my creditors, and referred my case to a PPI specialist.
I don't ever believe I was missold PPI, but get the feeling I may be 'encouraged' to say otherwise.
I really don't want anything to do with it. |
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Trust Deed Assistant
Trust Deed Expert
6763 Posts |
Posted - 11 July 2012 : 18:17:37
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Welcome to the forum zander123 and hello again amorphous.
This is a difficult area. A lot of people may think that they weren't missold PPI, but in fact they were. I'll give a few examples later to help illustrate this. If it was so obvious that the PPI was being missold I doubt that so many of us would have been duped into purchasing it in the first place.
A couple of examples:
1 - You were sold a policy that you couldn't claim on (perhaps if you were self-employed for example).
2 - It was stated or insinuated that if you did not take out PPI cover you wouldn't get the associated credit or loan.
3 - You didn't need the cover because cover was already in place (provided by your employer perhaps).
I'm no expert, but I understand that this list could go on and on.
My advice is therefore to provide the appointed claims firm with the truth, the whole truth, and nothing but the truth.
You'll then meet your obligation to your trustee and trust deed (to comply with reasonable requests), the claims firm will have reliable and full information to assess whether misselling took place, and any claim submitted to a PPI seller on a false basis could hardly be seen to be your responsibility.
Remember that PPI sellers can stand up to dodgy claims. They do, and the Financial Ombudsman Service certainly doesn't side with the claimant every time.
Remember also that your trustee has an obligation to investigate whether legimitate PPI claims could help to boost the funds available to repay the creditors. Their regulatory bodies have instructed them to look at it. It's a pain for you, but it's not necessarily something they'd choose to do either. |
*** Qualified Debt Adviser & Trust Deed Forum Administrator ***   |
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plasticdaft
Advanced Contributor
1211 Posts |
Posted - 12 July 2012 : 22:00:30
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These reclaim companies are simply taking advantage now,because banks are not contesting any claims. People should stand firm,if they wanted and took out ppi then it wasnt mis-sold. TDA I know you are pointing out cases where ppi has been mis-sold but people are being treated as idiots now by trust deed firms telling us what was and wasnt mis-sold.
Paul |
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn. |
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angiepal
Frequent Contributor
27 Posts |
Posted - 12 July 2012 : 22:43:15
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totally agree plasticdraft!
just had to fill one of these in and have to say feel as tho I am signing a document that is not of my liking... do feel as tho I am being railroaded, albiet if there is PPI then my creditors are welcome to it. just felt that some questions I could not answer...ie when did you take out this cover....eh god knows???? who were you working for at the time?..eh..if I dont know when I took it out, cannot say where I was working........
Im just extremely scunnered with this whole trust deed saga and getting to the stage couldny care less if they discharged or not...
Just gonna change my name to mickey mouse......start anew eh???? If only!!!
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teed off after 6 months & still no discharge! |
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prenticebaby
Advanced Contributor
69 Posts |
Posted - 12 July 2012 : 23:08:09
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| It would be interesting to see if people were still of the opinion that they weren't mis-sold ppi if they were financially benefiting rather than creditors, I would imagine most would be writing to the lenders to chance their arm whether they believe they were mis-sold or not. |
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Trust Deed Assistant
Trust Deed Expert
6763 Posts |
Posted - 13 July 2012 : 09:37:04
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| That's an interesting point prenticebaby, and one that may be a little controversial amongst other members!! |
*** Qualified Debt Adviser & Trust Deed Forum Administrator *** |
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Ralph
Frequent Contributor
45 Posts |
Posted - 13 July 2012 : 09:41:59
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Nice one Prenticebaby, when you say most dont you mean about 99.9%!!
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plasticdaft
Advanced Contributor
1211 Posts |
Posted - 14 July 2012 : 09:37:25
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A good point indeed.
Paul |
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn. |
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amorphous
Frequent Contributor
36 Posts |
Posted - 15 July 2012 : 12:06:06
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The more I think about this, the more bizarre it seems to me.
If I have to go ahead with this, I am claiming PPI back from the banks just to pay it directly back to them through my TD.
A waste of time and money for all concerned.
It would make more sense to sign a document to waive any future claims to PPI. |
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Trust Deed Assistant
Trust Deed Expert
6763 Posts |
Posted - 15 July 2012 : 12:34:39
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| Well... banks that didn't missell will benefit to the detriment of those that did. Justice really considering some banks behaved a lot worse than others. |
*** Qualified Debt Adviser & Trust Deed Forum Administrator *** |
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amorphous
Frequent Contributor
36 Posts |
Posted - 15 July 2012 : 12:41:45
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Good point..I tend to have combined all the banks together in my mind as one nasty entity!
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Trust Deed Assistant
Trust Deed Expert
6763 Posts |
Posted - 15 July 2012 : 22:28:55
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That's easily done amorphous, I'm sure we all do that from time to time.
Most of them haven't treated customers very well for a while, but some seem to have behaved much more aggressively than others in terms of their internal selling procedures and the (lack of) value of their products. |
*** Qualified Debt Adviser & Trust Deed Forum Administrator *** |
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Topic |
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Fraudulant claim on PPI ?