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Wildchild
Advanced Contributor

59 Posts

Posted - 09 June 2018 :  19:06:43  Show Profile  Reply with Quote
So how does everyone think the mond case will go am I right in assuming the result will determine wether trust deeds can. Be reopened. And assuming if he wins all ppi payments will go to former trusteees

Turbobhoy
Frequent Contributor

48 Posts

Posted - 10 June 2018 :  08:33:21  Show Profile  Reply with Quote
Going by the Wright v green case Iva in England when looking at that details when trustee issues payment to creditors it does not say first and final distribution which I think is the case so as far as I'm concerned Mond is wrong but knowing the English court system they will try to turn the scottish courts decision but when you look at it ppi company take 30% then trustee takes there cut is it worth reopening trust deed to get money when the majority of trustees will milk there cut banks creditors will get only 50% back so trustees should not be using ppi company at all and because they never did there job properly in the fist place they should not be able to get any cut from ppi payment rant over
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maverick267
Advanced Contributor

131 Posts

Posted - 10 June 2018 :  09:33:48  Show Profile  Reply with Quote
doubt we would get anything if you owed say 7k during td(ppi) u get 10k ppi once ppi company takes its 30% etc why should you get anything u still owed that money during the td creditors will want it all I don't see how people are saying after 6 years since you completed it they wont hound you. even after finishing mine 3 years ago I still get letter's asking for more money from creditors
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Wildchild
Advanced Contributor

59 Posts

Posted - 10 June 2018 :  11:43:21  Show Profile  Reply with Quote
So sad and upsetting the anxiety it is causing in people's lives for a few quid courts will then re open trust deeds so really a trust deed never ends
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Turbobhoy
Frequent Contributor

48 Posts

Posted - 10 June 2018 :  12:46:44  Show Profile  Reply with Quote
So if trust deed gets reopened what stopping the banks chasing you for the rest of the debt ? First and final distribution should be as it says first and final so trust
deeds needs to be rewritten if there is another distrubution as no where does it state that's threres to be a second one
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Wildchild
Advanced Contributor

59 Posts

Posted - 10 June 2018 :  19:16:26  Show Profile  Reply with Quote
Praying they leave former trust deeds
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ramona11
Frequent Contributor

30 Posts

Posted - 11 June 2018 :  16:44:18  Show Profile  Reply with Quote
I am kind of confused by this mond case. I was in a trustdeed which ended 10 years ago. I did recently put in a few PPI complaints. My understanding was that the most that would happen would be that the bank may offset against the debt (which they can't do I don't think) or they might ask for proof your trustee is discharged and that they don't have an interest in the pay out. I was told informally my old trustee would be uninterested in any ppi payout I recieved so I went ahead and put in my complaints.

Now reading these threads it seems depending on this case my old trustdeed could be reopened, is this correct?
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TDA (Debt Adviser)
Trust Deed Expert



12549 Posts

Posted - 11 June 2018 :  16:56:59  Show Profile  Reply with Quote
Hi ramona11.

There's been a separate case where RBS contends that they can set-off PPI claim payments against debts they wrote off as part of a trust deed. The outcome of that has become connected to the Mond case.

If Mond wins his case it's possible that other trustee's position on this issue will change.


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

5 Posts

Posted - 11 June 2018 :  17:07:21  Show Profile  Reply with Quote
Just curious and a little worried. I was discharged from my Trust Deed some time ago and my bank sent a standard letter saying that I could apply for mis-sold PPI. I honestly thought that this was allowed and did not consider my Trust Deed (living in England now and I genuinely did not know Trust Deeds could be re-opened etc). The Bank turned down my claim for PPI but made me a good will gesture.

The money came directly to me so would my former Trustee chase for this money now (and could they since it was a good will payment and not a PPI settlement). Many thanks as always for your assistance.
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TDA (Debt Adviser)
Trust Deed Expert



12549 Posts

Posted - 11 June 2018 :  17:52:47  Show Profile  Reply with Quote
Hi NellieBuff.

This seems unlikely. However we can only speculate at this point as we don't know which way the case will go or how other trustees will act if Mond wins.

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

5 Posts

Posted - 12 June 2018 :  09:02:55  Show Profile  Reply with Quote
I will try very very hard not to get too stressed then.

On occasions I think folk forget that Trust Deeds involve people (not just numbers, policies and laws) and forget that wild speculation (and doomsday scenarios) are not beneficial to those of a fragile nature (not you TDA as you are always kind but professional). This is just my take on a situation and not meant to upset or disregard anyone.

Thanks as always.
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TDA (Debt Adviser)
Trust Deed Expert



12549 Posts

Posted - 12 June 2018 :  10:42:34  Show Profile  Reply with Quote
Hi NellieBuff.

It is very clear that people see this in different ways.

From my perspective I can't see much of a practical issue with this if it happens (which it may well not in any case). People aren't in a trust deed again and it doesn't affect their credit rating.

There is the issue of who gets the money of course. But that's what this legal case is about really. Under the law, who should get the money. It's not entirely clear and that's primarily what's getting sorted out here via the legal cases.

It seems though that this is about far more than the practicalities and the money for many people posting here. It's about raking up aspects of the past that, entirely understandably, people are glad that they've moved on from.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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jojo93
Advanced Contributor

60 Posts

Posted - 13 June 2018 :  11:53:33  Show Profile  Reply with Quote
dose anybody have any idea how long this mond case will take
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amorphous
Advanced Contributor

82 Posts

Posted - 13 June 2018 :  13:19:56  Show Profile  Reply with Quote
Hi.....
Its going to be heard on july 3.
Supreme court cases are usually between 2 -4 months for the vedict, as far as I can tell.
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Gleith
Advanced Contributor

225 Posts

Posted - 17 June 2018 :  18:08:35  Show Profile  Reply with Quote
I didn't think it would take this long - do other cases take as long ?
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Wildchild
Advanced Contributor

59 Posts

Posted - 18 June 2018 :  08:49:54  Show Profile  Reply with Quote
So basically if mond wins al former trustees can then apply to EE open old trust deed and claim. Monies they holding on to and how long does this process usually take then names on too r o i all over again #128545; this is actually unbelievable. So closed trust deed has no meaning
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