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Brian5
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7 Posts

Posted - 08 February 2020 :  05:45:57  Show Profile  Reply with Quote
I put in a PPI claim for loans I had with Direct Line, who were apparently taken over by RBS.
Anyway, eventually I received Offers from RBS for the PPI on the loans, There is a declaration tha is apparently to be signed in order to accept the offer, which is worded stangely and vaguely with the following paragraphs.

""If I am, or have been, subject to an Individual Voluntary Arrangement (IVA), Protected Trust Deed, Bancruptcy or Sequestration, any payment will be made to the relevant account I hold with you. Any disbursments due under the terms of the arrangement will then be managed by the groups insolvency team.""

""I understand that the offer will take into consideration any arrears on my account. The remaining balance, if any, will then be paid to me by cheque. I am aware that it is possible for the account to remain in arrears if yhe offer is not sufficient ro clear the full amont owing on my account. ""

I have had a similar problem with EGG Canada sqaure operations who "awarded" me a refund and compensation, and then sent the money to my "insolvency practitioner". They never informed me of who, where, when or how they sent the money. It is now over a year later, and I still do not have that money, I have recently managed to get a letter of no interest from my Trustee, and I am at present trying to get the money sent to me.

Bearing in mind that my trust deed was completed over 10 years ago, Am i likely to have similar problems with RBS, or should I sign this "decleration" and enclose a copy of the letter of no interest.

TDA (Debt Adviser)
Trust Deed Expert



13293 Posts

Posted - 08 February 2020 :  11:47:16  Show Profile  Reply with Quote
Hi Brian5.

As it stands, RBS isn’t going to pay you if they’re aware of your trust deed and they wrote money off that you had owed. This is explained here;

https://www.trust-deed.co.uk/rbs-and-ppi-claims-after-trust-deeds.html

There’s pending legal action so this situation could change.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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Brian5
Contributor

7 Posts

Posted - 08 February 2020 :  14:14:34  Show Profile  Reply with Quote
Hi, thanks for the reply,

Now that I have taken time to actually look at the forum posts, I found the lengthy post on the RBS problem, and have read it through, Here was me thinking I was the only one with a problem.

I was wondering what I should do in the mean time, while we wait on the descision of the courts. Should I sign the "declarations" either just with my signature, or signed and include a copy of my letter of no interest, or should I, as some have done, score out the "offending paragraphs" and sign, or should I wait a few weeks and see if there is an outcome from the courts or the RBS before accepting the offers.

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TDA (Debt Adviser)
Trust Deed Expert



13293 Posts

Posted - 09 February 2020 :  14:39:21  Show Profile  Reply with Quote
Hi Brian5.

I don't really feel comfortable answering this question I'm afraid. I'm not legally trained so cannot advise you what actions would be in your best interests or what the potential consequences of each action could be.

Others may be prepared to share what they've decided to do and why.

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