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Stev
Starting Member
1 Posts |
 Posted - 08 May 2012 : 22:04:56
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| can i reclaim ppi premiums for mis-selling now thah my bankruptcy has been discharged? |
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debtinfo
forum expert
2826 Posts |
Posted - 09 May 2012 : 05:25:26
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no you cannot, please see the noticebelow from the insolvency service
Payment protection insurance (PPI) mis-selling claims and bankruptcy
PPI mis-selling guidelines
Following the recent publication by the Financial Services Authority of proposed guidelines for firms that sold PPI policies and their contact with customers who may have been mis-sold a policy, but have yet to complain, the following information may be useful to persons who became bankrupt after the sale of a PPI policy.
A PPI mis-selling claim: a bankruptcy asset
Following provisions of the Insolvency Act 1986, The Insolvency Service takes the view that if a PPI policy was mis-sold before the date of an individual’s bankruptcy, any claim relating to the alleged mis-selling of the policy is owned by the official receiver or trustee of the bankruptcy estate, not the individual to whom the policy was sold.
Discharge from bankruptcy does not alter the position
Discharge from bankruptcy does not alter this position. Discharge does not operate to transfer unrealised assets, including PPI mis-selling claims, back to the individual.
Considering a PPI mis-selling claim: refer to the official receiver or trustee
If a (former) bankrupt considers that a PPI policy was mis-sold, they should not attempt to pursue a mis-selling claim without reference to the official receiver or trustee.
If a claim has already been made, the official receiver or trustee should be informed of the claim and the person against whom the claim is being made should be informed of the bankruptcy
Use of claims management companies
The Insolvency Service is aware that some (former) bankrupts have used claims management companies to pursue PPI mis-selling claims for them. If these services are used after the date of the bankruptcy order, it is possible that the individual will remain responsible for all or part of the commission charged if an award is paid to the official receiver or trustee. This may be because the amount of the commission is challenged by the trustee or if the firm against which the award is made is a creditor in the bankruptcy and exercises a right to set-off the award against its claim in the bankruptcy. This could result in no payment being made from which the commission could be paid.
As such, care should be taken before acting in this way.
Best course of action: contact the official receiver or trustee
The best course of action for any individual contemplating making a PPI mis-selling claim who is or has been affected by bankruptcy is to contact the official receiver or trustee dealing with their case before proceeding further.
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Twirly68
Starting Member
United Kingdom
2 Posts |
Posted - 20 July 2012 : 14:40:39
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I was made bankrupt in 1996 and discharged 3 years later. Move on 10 years and I take out a loan which had PPI on it.
To cut a long story short, the claim has ended up with the FOS who have phoned me today to say that the Official Receiver wants all the money from my PPI claim!! This amounts to £5500!!
My question is, can the OR take this money when this loan and PPI were not a part of my bankruptcy debt and it is now 16 years since I was made bankrupt? |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 20 July 2012 : 17:04:26
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Hi Twirly68,
If this was a loan that was taken out after your bankruptcy, then I can't see they have any claim on the PPI payout.
Does the OR know that the loan was taken after your bankruptcy?
Wait for Debtinfo to reply, he may have dealt with this before.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
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year 2029
Average Member
590 Posts |
Posted - 20 July 2012 : 19:32:46
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I agree with Vikis sentiments.
As hasbeen asked, does the OR/Trustee know the dates involved?
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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debtinfo
forum expert
2826 Posts |
Posted - 20 July 2012 : 23:50:09
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| Thirded :) |
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Twirly68
Starting Member
United Kingdom
2 Posts |
Posted - 21 July 2012 : 12:16:11
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I have told the FOS that this was not a debt that was included in my bankruptcy as it was almost 10 years after the date I was made bankrupt. the FOS are going to speak to the OR to explain this to them.
Fingers crossed that they don't have a claim on my money, after all it is a substantial amount and i would prefer this to be in my pocket rather than the ORs. |
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year 2029
Average Member
590 Posts |
Posted - 21 July 2012 : 12:28:13
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Fingers crossed then Twirly.
It would appear from everything you've said all should be ok :-)
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 21 July 2012 : 15:05:20
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I'm sure it will be fine. Please let us know how you get on.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 21 July 2012 : 15:08:17
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Good luck from me as well Twirly - hope you get to keep the money!!
Ascend may you find no resistance
Know that you made such a difference
All you leave behind will live to the end
The cycle of suffering goes on
But memories of you stay strong
Someday I too will fly and find you again
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Topic |
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can I reclaim ppi premiums now my bankruptcy has been discharged ?
