ppi from natwest (RBS) claim back having gone bankrupt 8 yrs ago because ppi failed

[mrquattro]

Hi everyone this is my first post here so ill start at the beginning,

 

when i was younger i had several loans from natwest and one rolled into a bigger loan several times over the years,

 

after contact rbs they said i had 5 accounts with them and that so far they had one loan of £4.5 with an offer of £170 (like 4%) ,

then another account was 10k with £1900 offered (19%),

then an £11k one still awaiting an offer

, then an 18k one still awaiting offer.

the last one was £1700 loan with no ppi so no offer.

 

Heres where it gets interesting

i was sold the ppi as you had to have it to get a loan with them and that in the event you were off work it would pay your loan until it finished or you went back to work

 

, this however turned out to be false as i found out when i had a back injury was off work and the ppi ran out after a year leaving me with a loan to cover whilst not working which lead me to going bankrupt,

 

being bankrupt then made it difficult to find work ( no banking industry ) and even when i ended up working for an insurer the highest level i could be employed at was the job i had at £21k pa, the next job up was £36k (which is what i should of been doing) so i lost out on 15k per year when i went back to work.

 

Now i see that as some sort of damage (expectant measure, reliant measure, liquidated damages or professional negligence .) so in effect from me returning to work in 2009 (bankruptcy 2008) that until 2014 this was being held against me in terms of jobs and salary.

 

Could i claim 5 years at £15k a year loss?

 

Now that the bankruptcy is discharged will any payment from them go to me or insolvency people?

 

My next step will be to SAR them before accepting any offers they have made or will make.

 

is there any time frame for the SAR to be carried out by them?

 

and how long do you have to accept an offer.

 

thanks for your help

[dx100uk]

If you click sar and read it, you ll see it states the time frame

 

As for claiming 'lost' wages...no chance

 

Your need to carefully read link 1 below to correctly calculate your expected redress

 

I have my doubts if you'll be able to actually get anything mind

You're have to research bk and PPI carefully

 

Dx

[mrquattro]

thanks for the reply, ok was worth a shot as being bankrupt did screw me hard, am just scouring the forum about the bankruptcy OR getting it , am just clarifying if that applies after the 6 year mark of a bankruptcy?

[dx100uk]

SB doesn't apply to bk afaik

 

I'm not at my server so's can't check my notes

But I think it can be swallowed by the ip/trustees or why

 

Dx

[dx100uk]

http://forums.moneysavingexpert.com/showthread.php?t=3461629

[stu007]

Hi mrquattro

 

Couple of questions:

 

1. When were you made Bankrupt?

 

2. When were you Discharged from Bankruptcy?

 

3. Does the Employer you wish to claim loss of earnings from do Credit Reference Checks on Employees and is there anything in the contract about these?

 

4. Is your Employment for the loss of earnings period in the Financial Sector?

 

5. Have your actually checked your own Credit Reference File with one of the Credit Reference Agencies? (See below)

 

With your issue you need to be aware with Bankruptcy that it remains on your credit reference file for up to six years after your Discharge from Bankruptcy.

Edited October 25, 2015 by stu007

[mrquattro]

hi thanks for the replies appreciated

 

1) was made bankrupt jan 08, discharged 1 yr later jan 09

 

, the employer i was employed with after going back to work in july 09 did credit checks,

 

i was stuck working in 20k jobs because the bankruptcy was held against me for 6 years.

 

For the 5 years i was working after bankruptcy i was unable to get a job over 20k instead of the 32-38k jobs i should have been at.

 

if the PPI had done what they claimed then i wouldn't have had to go voluntary bankrupt and thus wouldn't have been stuck in a 20k job,

 

i was told by numerous recruitment agency that this was a major thing held against me in terms of even getting interviews for a higher paid job.

 

As its now been over 6 years since i was discharged

 

does anyone know if the payment goes to the OR?

[wolverines]

The right to make a complaint for the mis-sale of any PPI policies that were sold prior to bankruptcy is considered to be an asset of the bankruptcy estate.

 

As such, any redress that becomes due belongs to the OR because, technically, the claim was not yours to make. Whether or not you have been discharged is irrelevant

 

Unfortunately, this means that you will almost certainly not be able to keep any of the redress.

 

You are not really supposed to proceed with complaints about PPI where the sale took place prior to bankruptcy without permission from the OR so you may want to tread carefully and you may need to tell them.

 

There is a government guidance document on it here (or there is if you add the appropriate internet prefix as I can't post links!);

 

gov.uk/government/publications/bankruptcy-payment-protection-insurance-ppi-mis-selling-claims/bankruptcy-payment-protection-insurance-ppi-mis-selling-claims

 

Citizens Advice also have one;

 

citizensadvice.org.uk/debt-and-money/debt-solutions/bankruptcy-2/ppi-claims-after-bankruptcy

 

I'm assuming you haven't and if you have it may be too late

but DO NOT USE A CMC for any complaints involving bankruptcy,

IVA or where you have defaulted on a debt.

 

This is because you may not actually receive any of the redress that becomes due as it may not belong to you or may be used to offset.

You would then have to find some way to pay the CMC out of your own pocket.

Edited October 26, 2015 by wolverines

[mrquattro]

hi thanks for the replies,

 

 

looks like it either wont come to me or if it does i should be forwarding it to OR for the simple reason that if they find out later

they will ask for the money and if i have spent it then there could be a case of fraud to answer which just is not worth it.

 

 

So i would say the most sensible thing will be to contact the OR inform them and let them take over,

 

 

thankfully its not with a CMC as i did it myself contacting the bank directly.

 

 

Again thanks for all the swift replies and help much appreciated.

[stu007]

Either way you would still have to inform the OR so what I would advise is writing to the OR and asking as it may also depend on the amount of money involved and you never know the OR may write back giving you the OK to proceed and they wont be involved.

[dx100uk]

I have know the or to say good luck.