Trust Deed Forum - PPI not fully discharged
Home Home Page

Trust Deed Forum
Trust Deed Forum
Home | Profile | Register | Active Topics | Members | Search | FAQ
Save Password
Forgot your Password?

 All Forums
 Trust Deeds
 Scottish Trust Deed Forum
 PPI not fully discharged
 New Topic  Reply to Topic
Author Previous Topic Topic Next Topic  

Just Joined

1 Posts

Posted - 27 August 2019 :  22:04:41  Show Profile  Reply with Quote
Hi All,

Looking for bit of help - although this is my first post, Iíve been reading this forum for the last few years and found it very useful during my trust deed.

I entered a trust deed 5 years ago and it was great to make my last payment just over a year ago. The trust deed was difficult at times however it was the right decision and so glad I entered one.

Anyway, my question is relating to PPI Ė With a couple of days ago I decided to do some PPI checks. I was fairly certain I never had any. However, one company (MBNA) has just come back and said I did have PPI on a credit card and have opened up a claim. Iíve no idea of the amount (I stopped using the card about 10 years ago).

However, although my last trust deed payment was a year ago I didnít receive my Form 5 until May. Subsequently, in mid-July I received a letter from my trustee confirming they were in position to pay the final dividend which I presumed was the end of the trust deed.

However, Iíve checked the insolvency register and Iím still not fully discharged Ė I presume (hopefully Iím wrong!) that any PPI would go still go to the trustee as Iím not fully discharged?


TDA (Debt Adviser)
Trust Deed Expert

13254 Posts

Posted - 28 August 2019 :  09:56:50  Show Profile  Reply with Quote
Welcome to the forum MagicR.

Your trustee has discharged you, because you have completed the commitments that you made. You are fully discharged.

It sounds as though they've remained in office (not discharged) to complete their work on your case.

If they remain in office, I'm afraid to say that the PPI will be directed to them to help repay more to your creditors.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
Go to Top of Page

Kevin Mapstone
Trust Deed Expert

3812 Posts

Posted - 28 August 2019 :  10:12:55  Show Profile  Reply with Quote
Hi MagicR

If you have received your Form 5 then you are fully discharged and have no further responsibilities or commitments to the Trust Deed.

However, any assets, such as potential PPI claims, that existed as at the date that you signed your trust deed were signed over to your trustee to collect in for the benefit of your creditors. Whilst it sounds like the trustee is close to registering their own discharge, if it hasn't happened and the PPI claim bears fruit then MBNA will likely pay the funds to your trustee so that the money can be shared between your creditors.

Recommended Partner & Trust Deed Expert - Ask me for help setting up a Scottish Trust Deed    
Go to Top of Page
  Previous Topic Topic Next Topic  
 New Topic  Reply to Topic
Jump To:
Trust Deed Forum © 2008 - 2020 Go To Top Of Page
Snitz Forums 2000

(c) Channel Active Limited. Company Number: 06412452. Data Protection Registration: Z1332750.
Telephone calls may be monitored or recorded. Authorised and regulated by the Financial Conduct Authority., Clyde Offices, 2nd Floor, 48 West George Street, Glasgow, G2 1BP. Tel: 0141 2490416.