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Debtnomore
Frequent Contributor

40 Posts

Posted - 07 November 2020 :  11:32:22  Show Profile  Reply with Quote
Good morning.

I applied for ppi compensation with RBS in May 2018. I was successful in 6 claims but was informed that the compensation would be offset against my trust deed debt. I didnít accept or reply to the offers as I wanted to wait and see what the court rulings would decide.

Today, out of the blue, I received 6 letters from RBS stating I have 12 weeks to accept the offers and to provide payment account details. Has something changed? Am I to believe this money will now be paid to me?

Any advice or information would be greatly appreciated.

TDA (Debt Adviser)
Trust Deed Expert



13542 Posts

Posted - 07 November 2020 :  14:27:27  Show Profile  Reply with Quote
Hi Debtnomore,

All the latest we know about this subject is at https://forum.trust-deed.co.uk/forum/topic.asp?TOPIC_ID=7521&whichpage=20 and https://www.trust-deed.co.uk/rbs-and-ppi-claims-after-trust-deeds.html (both of which I'm sure you're fully aware of).

It will certainly be interesting to hear if anyone else who's hoping to receive a payout from RBS has received similar letters.

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

40 Posts

Posted - 08 November 2020 :  10:05:37  Show Profile  Reply with Quote
Thanks TDA. I will let you know how things proceed.
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Luke4630
Advanced Contributor

123 Posts

Posted - 08 November 2020 :  12:31:46  Show Profile  Reply with Quote
Don't trust rbs check paperwork over and how it's been worded .
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Debtnomore
Frequent Contributor

40 Posts

Posted - 10 November 2020 :  23:08:11  Show Profile  Reply with Quote
Hi Luke4360

I have clicked on the online acceptance form and it doesn't mention any money being offset. In the original acceptance letters from May 2018, it clearly stated 'If I am, or have been, subject to an IVA, Protected Trust Deed, Bankruptcy or Sequestration, any payment will be made to the relevant account I hold with you. Any disbursements due under the terms of the arrangement will then be managed by the Group's Insolvency Team'. I will phone and try to speak to someone tomorrow.
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Luke4630
Advanced Contributor

123 Posts

Posted - 11 November 2020 :  10:29:59  Show Profile  Reply with Quote
Hi debtnomore just seen message ,wording from rbs if you are or have been subject to a IVA or trust deed meaning they will offset money ,this was the wording the ombudsman didn't think was right ,let me know how you get on
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Debtnomore
Frequent Contributor

40 Posts

Posted - 12 November 2020 :  14:20:02  Show Profile  Reply with Quote
Just a quick update. I phoned RBS this morning. The advisor suggested I email customercare to check if the ppi money I have been awarded will be offset against my discharged trust deed. I explained about the court ruling in November 2019. He said to attach a copy of my form 5, showing discharge from over 5 years ago and to clearly state that I will not accept offer until I have confirmation that the money will not be offset.

And now the waiting game again....
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Luke4630
Advanced Contributor

123 Posts

Posted - 12 November 2020 :  21:21:35  Show Profile  Reply with Quote
Hi debtnomore last letter I received from rbs went into detail on court ruling and stated if final outcome was that rbs shouldn't have offset ppi money then it would be paid back to debtor,if you want a copy send me an email to lukecg@aol.com
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