my wife was made bankrupt over 4 years ago.s he made payments for 3 years the last being january last year. she now has a letter from her insolvency agent telling her they are claiming ppi on her behalf and that all money claimed must go to them. after 4 years of bankruptcy can this be right?
Hi! If the PPI claim existed at the time of your wife's bankruptcy, then I understand the OR is acting correctly by collecting all assets available for the creditors.
There is guidance on the Insolvency Service website surrounding PPI and BR.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Broke of London
Hi! If the PPI claim existed at the time of your wife's bankruptcy, then I understand the OR is acting correctly by collecting all assets available for the creditors.
There is guidance on the Insolvency Service website surrounding PPI and BR.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Broke of London
Hi! If the PPI claim existed at the time of your wife's bankruptcy, then I understand the OR is acting correctly by collecting all assets available for the creditors.
There is guidance on the Insolvency Service website surrounding PPI and BR.
If you have a look on the sister BR forum there is a 'sticky' post explaining the Insolvency Service's position on PPI claims. Sorry I can't post the link but I'm posting on my phone.
If you have a look on the sister BR forum there is a 'sticky' post explaining the Insolvency Service's position on PPI claims. Sorry I can't post the link but I'm posting on my phone.
The bank or the 1% of society aways wins over the rest, yes I am shocked that after 4 years of bankruptcy they can take your ppi cliams as well. Just accept it,its only money.....
The claims are assets that existed at the time of the bankruptcy.
I don't think it's about winning...the creditors simply want to write down as little as possible and if assets exist to minimise their losses then they are entitled to them.
Assets acquired after the BR wouldn't be captured.
Many individuals released from Bankruptcy have claimed PPI and spent the money since the Insolvency Service took a hold of this, they have actually spent monies they were never entitled to have, but, they did not know this and no-one has told them, and one day a horrible envelope is going to pass through the letter box of these people and we are left wondering as to what the outcome is likely to be, will it be written off, will it be claimed back putting ex bankrupts back in debt, we will have to wait and see.
Daniel, how far back are Insolvency Service going to claim PPI? I take it they will be investigating whether a person had it or not? The reason I'm asking is if they asked me if I'd taken out PPI the honest answer would be I can't remember and I wouldn't have the details any more to be able to find out!
