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Luke4630
Advanced Contributor

51 Posts

Posted - 09 November 2018 :  20:02:06  Show Profile
My trustee isn't interested in the ppi money . What happens then money goes back to debtor

Colin luke
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amorphous
Advanced Contributor

126 Posts

Posted - 09 November 2018 :  20:03:13  Show Profile
What is to stop creditors seeking the trustee to be reinstated at some point in the future off their own back??



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Turbobhoy
Advanced Contributor

86 Posts

Posted - 09 November 2018 :  20:42:57  Show Profile
So the trustee is basically charging you for holding your money which is rightfully yours would be nice to see how tda defends that trustee just goes to show some trustees just out to make money I wonder what Icas would make of there offer
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sophie
Frequent Contributor

28 Posts

Posted - 09 November 2018 :  20:52:18  Show Profile
Can't belive there is a trustee out there that is that gready. When you go to there websites they say they are there to help. Just greed they should be ashamed of themselves. You know who you are.i would like you to show yourself let's see the trustee who is going to do the right thing and let's see the greedy ones. We all know what the law is but you will play games. Sorry bit of a rant but I think it is out of order. As I have said before you are playing with people's life's everyone has went through enough.
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contoboy
Frequent Contributor

35 Posts

Posted - 09 November 2018 :  20:58:56  Show Profile
I know this forum is regarding Mond however, I would be grateful if anyone knows the answer to this concerning the dreaded RBS. I was successful in claiming £3200 in respect of ppl and _£1073 for package bank account. I was in a trust deed and discharged in 2013. I received a cheque for £554 from RBS for interst on the PBA but I hey are keeping the rest as ‘indebtness’ due to money still owed after PTD was completed. I saw the Donnelly vRBS ruling 2017, does this mean they can’t use off set and am I right in challenging them over the rest of the money they are keeping?
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tinsoldier
Advanced Contributor

732 Posts

Posted - 09 November 2018 :  21:01:34  Show Profile
Well I suppose this dispels the myth that trustees wanted deeds reopened to benefit creditors.

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amorphous
Advanced Contributor

126 Posts

Posted - 09 November 2018 :  21:06:31  Show Profile
Tbh, I think the vast majority of trustees are decent, ethical firms.
One or two rotten apples are purely in it from a commercial point of view.

I'd suggest requesting a breakdown of costs in writing, and consulting the CAB/AIB. this does not seem legit imo.
I'd also seriously consider billing your ex-trustee £100/ hour for any time you spend on this, plus an additional £75 per letter. THis is prob what they charge you.


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Luke4630
Advanced Contributor

51 Posts

Posted - 09 November 2018 :  21:30:32  Show Profile
Contoboy . Hi I've posted some post in regards to rbs . I phoned rbs the other day they said they were waiting on word from FCA . I'm in touch with the same solictor that Donnelly has . He is keeping me right on what to do .

Colin luke
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Wildchild
Advanced Contributor

164 Posts

Posted - 09 November 2018 :  21:36:41  Show Profile
Are you optimistic ? After talking with them
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Luke4630
Advanced Contributor

51 Posts

Posted - 09 November 2018 :  21:56:01  Show Profile
Yes I believe rbs will not take things futher with the Donnelly case . . Rbs where holding out to see what happened with the mond case . Hasn't went there way . Just need rbs to change there policy which might take a bit time .

Colin luke
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contoboy
Frequent Contributor

35 Posts

Posted - 09 November 2018 :  22:22:57  Show Profile
Thanks Luke. I called RBS and was transferred to 4 different departments I mentioned Donnelly v RBS 2017. Last department told me that would have to talk to the debt recovery department however, they closed 5 minutes ago. #128514;#128514;
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candlewick
Advanced Contributor

315 Posts

Posted - 09 November 2018 :  23:44:23  Show Profile
quote:
[i]Originally posted by Gleith[/i]
[br]This is the e mail I received to day from ex trustees.

Dear Gail,


Thank you for your recent email in relation to your PPI. With regards the ruling at the supreme court on the 31 October 2018 and after further counsel from our solicitors it is noted that under the judgment it contains a postscript which suggests that a creditor might consider making an application to reduce the Trustee's decision to be discharged, thereby acting as a reinstatement that way and allow the funds to be recovered and distributed.


I have now spoken to your former trustee and he has decided to offer you the following proposal regarding your PPI. His proposal to you that after nearly 3 years awaiting a decision on how the funds are to be dealt with instead of instructing my solicitors to contact your former creditors to pursue this route of seeking their approval of reinstatement. He would offer you a lump sum payment back from your PPI less legal fees and his outlays.


I trust this to be in order and will await your reply to this proposal.


What do other think - not particularly happy I have to pay for his legal fees.




In your shoes, I'd have a few questions for the former trustee:

- On what legal basis has the former trustee retained these funds for so long, given paragraph 20 of the Supreme Court's judgement

- What guidance has been issued by the former trustee's regulatory body in respect of PPI refunds in closed trust deeds

- how much are the former trustee's legal fees and outlays; what are the projected costs for contacting the creditors; what are the estimated costs of any action of reduction; and what are the estimated fees and outlays for the trustee, if reinstated

- after all of the above costs and any others have been paid, what is the projected dividend for creditors

If the creditors aren't going to get much, if anything at all, hit the former trustee with Sheriff Deutsch's decision on (not) re-opening a sequestration in July 2017 if the only people who would benefit are the former trustee and their lawyers and agents.

And submit a complaint to the former trustee's regulatory body.

You've waited three years for a resolution. I suspect that the former trustee is banking on you being desperate to get this over with. He may even have read that on this public forum [waves to Gleith's ****former***** trustee -and throws some shade ].

In my view, in your shoes, I'd want the former trustee to answer those questions - for starters.




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tinsoldier
Advanced Contributor

732 Posts

Posted - 09 November 2018 :  23:59:00  Show Profile
Hi Candlewick

Excellent post.

The answer to your second question is, of course, none.
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TDA (Debt Adviser)
Trust Deed Expert



12834 Posts

Posted - 10 November 2018 :  00:15:19  Show Profile
I’d hoped the amazing Candlewick might make a reappearance on this thread.

Welcome back.

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

259 Posts

Posted - 10 November 2018 :  07:17:13  Show Profile
No mond wasn’t my ex trustee
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