Need some help

[neilfisk]

Hi,

Short story. I sequestratered In June 08 and discharged June 09. I have been fight the RBS since this time to get my PPI refund. I have gone to the FOS and they have only just come back and said that they will refund the monies but they state that it will go on my card.

1/ can they do this?

2/ it was my understanding that PPI was separate to the payment off the credit card?

 

Any advice here would be much appreciated.

 

Cheers

 

Neil

[BankFodder]

I understand that you have been made bankrupt in Scotland.

 

I think that you should check with your bankruptcy counsellor but I expect that a PPI refund would have to be shared between your creditors as it refers to a time either before or during your bankruptcy.

 

It is certainly not for RBS to grab for themselves and it isn't for you either

[neilfisk]

Thanks for the reply. Yes, I was sequestrated in Scotland. I started to claim back the PPI after I was discharged. Does this make any diff

[IdaInFife]

this may help

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?334150-ppi-and-trust-deed

 

I will ask ND to comment to clarify it for you

[neilfisk]

Thanks, very much appreciate that info and if ND can clarify that would be great.

 

I just got another reply from someone on another forum, they state they are an IF and basically say that 'if I went bankrupt and I owed RBS money they have a right to keep it and because RBS is taxpayer owned he hoped they don't back down and they keep the money!!

 

Thanks again

[National Debtline]

Hi neilfisk

 

Sorry we're not sure what exactly IF is short for?

 

Anyway, as far as the PPI refund goes:

 

You have the right to specify how you wish a valid PPI refund to be credited to you. It does NOT have to be credited against any balance outstanding on the agreement to which the PPI complaint relates (in this case, there is no outstanding balance anyway as it has been erased by the bankruptcy). You could simply request payment by cheque or bank transfer, for example.

 

However, we do not believe the timing of the PPI claim makes any difference to how it is treated by the Accountant in Bankruptcy (AiB). The matters in question predate the bankruptcy and so any "windfall" arising from a PPI claim would be treated as part of the bankrupt person's estate. Despite the fact that you were discharged 2.5 years ago, there remains an obligation on you to declare any such windfalls to the AiB. Failure to do so could result in the AiB making a Bankruptcy Restriction Order against you.

 

AiB helpline is 0300 200 2777 http://www.aib.gov.uk

 

We hope this information is useful.

 

P.S. The poster you refer to above is not helpful in this context. Whether RBS are taxpayer-owned is completely irrelevant to the issue.

[bluedogx]

From the AIB website-

 

'Any assets aquired by the debtor after their discharge will not be transferred to the trustee.'

 

As long as the trustee has not already claimed the PPI there is no reason why the OP can't have a go and keep the money.

If 8% statutory interest is also added to any payment HMRC must be informed as the interest is taxable.

 

B