PPI Claims Company

[Biggie250]

Hi I wonder if anybody can shed light on a claims company and provide me with some accurate info. I received a letter from McGinness Associates telling me that as I have been discharged from bankruptcy I am entitled to claim compensation in the form of PPI. Now this is in fact true that I am a discharged bankrupt (this was quite a few years ago) but my question is if this is true wouldn't any reclaimed money be claimed back by one of the banking creditors??? Or are they just trying to get me to sign up??

[EXC]

Re: PPI Claims Company

I'm not sure, I'll ask [MENTION=48934]Debt Camel[/MENTION]

[Debt Camel]

Re: PPI Claims Company

You can claim and keep the money for any PPI paid after your bankruptcy.

But for PPI before your bankruptcy, it's nonsense. The money will go the Official Receiver.

Can you have another look at the letter and see how it is worded? I would be interested if it has implied you can claim for PPI before your bankruptcy.

[Biggie250]

Re: PPI Claims Company

You can claim and keep the money for any PPI paid after your bankruptcy.

But for PPI before your bankruptcy, it's nonsense. The money will go the Official Receiver.

Can you have another look at the letter and see how it is worded? I would be interested if it has implied you can claim for PPI before your bankruptcy.

Hi sorry for the delay in posting this, but yes the PPI Co says I can claim for the last 30 years the exact wording is as follows: "We would like to make you aware that after being discharged from your bankruptcy you are now entitled to claim for compensation for mis-sold financial products such as PPI. This applies to all loans mortgages credit cards and charge cards taken out in the last 30 years and claims can also be made for excessive bank charges as well as mis-sold packaged bank accounts. And so on and so on.
Now I was made bankrupt but I was discharged in 6 months as the Official Receiver found that I was not at fault for the situation leading up to the bankruptcy. I also suspect that I was sold PPI as a "the only way to get this business loan is to sign this form for protection insurance" from a major bank which then called in the loan. So I don't know whether I'm wasting my time with this or to pursue it ???
Your advice is appreciated

[Debt Camel]

Re: PPI Claims Company

I am assuming your bankrup[tcy wasn't annulled.

But if you were just discharged early, the money will be paid to the Official Receiver so you are wasting your time.

The Claims Co is being very misleading in not explaining that you won't see a penny of the money. If you would like to be a good citizen, you should report them to the Claims Management Regulator: https://www.gov.uk/complain-about-claims-company