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Can I claim PPI after discharge from bankruptcy?

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  • #1

    Can I claim PPI after discharge from bankruptcy?

    Hi All,
    I only ask this question after receiving a letter out of the blue from a Claims company.

    Can I?

    I eagerly await a response.

    Jaminglish
    Tags: None
  • #2
    Re: Can I claim PPI after discharge from bankruptcy?

    [MENTION=48934]Debt Camel[/MENTION] ... any idea??
    Debt is like any other trap, easy enough to get into, but hard enough to get out of.

    It doesn't matter where your journey begins, so long as you begin it...

    recte agens confido

    ~~~~~

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    • #3
      Re: Can I claim PPI after discharge from bankruptcy?

      You can, but the payout will go to the official receiver, not to you, so there is absolutely no point. And in a few situations you can be left owing the Claims Company their fee... bad idea.

      Comment

      • #4
        Re: Can I claim PPI after discharge from bankruptcy?

        Originally posted by Debt Camel View Post
        You can, but the payout will go to the official receiver, not to you, so there is absolutely no point. And in a few situations you can be left owing the Claims Company their fee... bad idea.
        Funny enough, I had a friend who this happened to, although in her case, it was following a Debt Recovery Order and I believe that windfalls are treated similarly to a bankruptcy? Her attitude was that her creditors would receive a dividend and that was a good thing, not that the champagne would have been flowing!

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        • #5
          Re: Can I claim PPI after discharge from bankruptcy?

          Originally posted by Snoopy1948 View Post
          Funny enough, I had a friend who this happened to, although in her case, it was following a Debt Recovery Order and I believe that windfalls are treated similarly to a bankruptcy?
          No windfalls aren't treated the same in bankruptcy and a DRO. In a DRO the money does not go to the OR - but that isn't good as the DRO can then be revoked because you have had a windfall! A VERY bad idea.

          Her attitude was that her creditors would receive a dividend and that was a good thing, not that the champagne would have been flowing!
          a) if the PPI payment comes from someone she owed money to it will just be "set off" against that normally. Absolutely no-one gains here at all, as the end result is a lot of book keeping entries in the bans systems and no money has changed hands at all.
          b) if there is a set off, she will still end up owing a Claims Firm their fees. I have seen people end up with CCJs because they cant pay the Claims Company in this situation.
          • 2 likes

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          • #6
            Re: Can I claim PPI after discharge from bankruptcy?

            Originally posted by Debt Camel View Post
            No windfalls aren't treated the same in bankruptcy and a DRO. In a DRO the money does not go to the OR - but that isn't good as the DRO can then be revoked because you have had a windfall! A VERY bad idea.


            a) if the PPI payment comes from someone she owed money to it will just be "set off" against that normally. Absolutely no-one gains here at all, as the end result is a lot of book keeping entries in the bans systems and no money has changed hands at all.
            b) if there is a set off, she will still end up owing a Claims Firm their fees. I have seen people end up with CCJs because they cant pay the Claims Company in this situation.
            I have checked this with the friend concerned and the situation was not as she originally advised apparently and perhaps you could advise me ( on her behalf ) if the series of events was correct. Her windfall was apparently in excess of £2000 and was in respect of PPI attached to a personal bank loan ( HSBC ), that loan having been subject to w/o under her DRO. From what she has told me, the PPI refund was advised on paper but retained by HSBC to offset their personal loan losses under the DRO. Does that sound in order?

            Comment

            • #7
              Re: Can I claim PPI after discharge from bankruptcy?

              Originally posted by jaminglish View Post
              Hi All,
              I only ask this question after receiving a letter out of the blue from a Claims company.

              Can I?

              I eagerly await a response.

              Jaminglish
              Thank you all for your responses....

              Comment

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