trust deed question

[rabdeniro]

I have a trust deed , the trustee has been in contact with myself regarding PPI , they have said it is pointless me trying to claim as the creditors would get all the money( I hadnt even thought to reclaim it) they say they will try to claim it and give money to creditors, Is this the trustees try to get more money for themselves, I have only 3 months left on the trust deed so I was thinking of claiming it myself and give it to my creditors, hope this makes sense .

[S-Express]

Hello rabdeniro,

 

There are a couple of different aspects to this.

 

Firstly it would seem that some Trust Deed firms are looking to recover funds to help repay creditors. Others may be looking to boost fees and/or receive an introduction fee from the company handling the PPI claim. Others may allow someone in a Trust Deed to keep a percentage of the award. See:

Scottish Trust Deeds - Trust Deed and PPI repayment

 

The second question is whether there is actually cause to believe that the PPI was mis-sold at all. A poster on another forum reently claimed that they were being pushed into making a claim when they believed no mis-selling had taken place:

Scottish Trust Deeds - Help required

 

Is your Trustee requiring that you allow them to make a claim?

Who first brought up the subject of making a claim?

[rabdeniro]

The trustee brought up the subject, the trustee wants to make the claim for me.

[S-Express]

Do you believe that the PPI was mis-sold to you?

 

Did your Trustee have any reason to think that it had been mis-sold to you?