Trust Deed Forum - RBS PPI Claim After Trust Deed - 2019
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wishfulthinker22
Contributor

7 Posts

Posted - 02 February 2021 :  13:44:07  Show Profile  Reply with Quote
My worry would be finding myself back in a state of insolvency should the court grant a reduction as I currently work in a regulated role within the financial services industry. However, I suspect my potential payout would be eaten up in costs so they would be unlikely to petition the court to do so. The article also suggests the court would consider my current position and the fact I was discharged 15 years ago. RBS do appear to be dragging their heel though.
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candlewick
Advanced Contributor

348 Posts

Posted - 02 February 2021 :  14:36:48  Show Profile  Reply with Quote
quote:
[i]Originally posted by MrBlue32[/i]
[br]Another law firm with their take on the process.
https://shepwedd.com/knowledge/protected-trust-deeds-and-assets-discovered-after-debtors-discharge

However, what is clear from this latest decision is that the “equitable considerations” will need to be in the creditor’s favour before the court will be willing to exercise its discretion in favour of the creditor. If a number of years have passed since the discharge was granted, or the asset in question is not particularly valuable, then those are likely to be factors that will weigh against a creditor. The judgment also suggests that the creditor will need to provide for re-appointment of a trustee to allow the debtor to be discharged once the relevant matter had been dealt with. So, while reduction of the discharge from a trust deed is, in theory, possible, it could be very challenging for creditors to persuade the court to agree to this.





Thank you for that article. I think it's a far better summary of the court's actual decision than the one we saw earlier.
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Mercgaz74
Regular Contributor

20 Posts

Posted - 03 February 2021 :  10:17:32  Show Profile  Reply with Quote
Looking for some advise please. I have just received a letter from RBS stating they have retained a sum of ppl monies In reduction of the balance outstanding.
It further goes on to state an outstanding balance which I still owe.
As this account was and has been confirmed as part of my trust deed which both myself and my trustee were discharged some 14 years ago I don’t understand why I would still owe any balance.

It would appear that in light of recent court rulings RBS has decided to retain the monies however my understanding is that RBS would need to apply to the courts in order to conduct these actions, I’m I correct thinking this.
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Mercgaz74
Regular Contributor

20 Posts

Posted - 03 February 2021 :  10:21:45  Show Profile  Reply with Quote
The Alison Donnelly case has now been concluded in her favour.
My case is very similar so don’t understand the letter I received this morning.

I have been advised there will be a 5 year time bar to raise and serve court action and we are required to prove when we first became aware of the claim. This should be easy for me to prove as ppi claims really became known about 2006 after my trust deed finished.
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Luke4630
Advanced Contributor

150 Posts

Posted - 03 February 2021 :  10:38:11  Show Profile  Reply with Quote
Hi merchgaz74 I'm lost is time bar from discharge from trust deed ,5 years on when claims was made ,if 5years has passed I take it rbs can't raise a court action .
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Mb77
Regular Contributor

18 Posts

Posted - 03 February 2021 :  10:47:46  Show Profile  Reply with Quote
Hi this is all feeling very worrying. The fact the people are receiving letters saying monies are owed? Rbs seem to be implying individuals need to take court action rather than them? Am I reading this right?
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Mercgaz74
Regular Contributor

20 Posts

Posted - 03 February 2021 :  11:16:48  Show Profile  Reply with Quote
I couldnt believe what i was reading when it said balance still owed.
Im sending an email to RBS and will update on their reply.
I have contacted a solicitor and i msy end up going to court to get the monies paid to me.
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Luke4630
Advanced Contributor

150 Posts

Posted - 03 February 2021 :  11:45:34  Show Profile  Reply with Quote
Same here got hold off a lawyer today for some advice .
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Kayak
Advanced Contributor

108 Posts

Posted - 03 February 2021 :  14:08:54  Show Profile  Reply with Quote
Looks like RBS are preparing to fight every case on its own merits. I would suggest for those who have been discharged and then set off occurred to get a group together and approach Mrs Donnelly,s lawyers and do an on mass claim against RBS.
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ewenR22
Contributor

12 Posts

Posted - 03 February 2021 :  14:44:47  Show Profile  Reply with Quote
Kayak, that might be a way to go for some of us.
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Luke4630
Advanced Contributor

150 Posts

Posted - 03 February 2021 :  15:01:56  Show Profile  Reply with Quote
Yes I agree collective claim ,my lawyer is coming back to me this week I'll see what advice we can get going forward .rbs are unbelievable
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Mb77
Regular Contributor

18 Posts

Posted - 03 February 2021 :  15:02:14  Show Profile  Reply with Quote
Kayak that sounds like an excellent plan
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Luke4630
Advanced Contributor

150 Posts

Posted - 03 February 2021 :  15:21:16  Show Profile  Reply with Quote
[quote][i]Originally posted by Luke4630[/i]
[br]Yes I agree collective claim ,my lawyer is coming back to me this week I'll see what advice we can get going forward .rbs are unbelievable .going forward I think we would have to come off the forum.
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Duckbill
Frequent Contributor

27 Posts

Posted - 03 February 2021 :  15:26:45  Show Profile  Reply with Quote
Hi Luke4630, I would be interested in joining the collective group claim. What is the reason for coming out of the forum?
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Luke4630
Advanced Contributor

150 Posts

Posted - 03 February 2021 :  16:08:11  Show Profile  Reply with Quote
My reason for leaving forum would be to keep things more private for us all.lets see what replys we get back from rbs first ,They told me 28days .I will check with my lawyer if a collective claim would work .
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