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Posted: Sat Jun 30, 2012 2:22 pm
by Johnd2247
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?
Posted: Sat Jun 30, 2012 2:29 pm
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.
Posted: Sat Jun 30, 2012 2:36 pm
by Johnd2247
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.
Posted: Sat Jun 30, 2012 2:39 pm
by Johnd2247
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.
Posted: Sat Jun 30, 2012 2:42 pm
by Johnd2247
does this apply even if shes been released from br
Posted: Sat Jun 30, 2012 2:52 pm
by Niobe
I believe it does as it would have been classed as an asset
Posted: Sat Jun 30, 2012 3:22 pm
by Skippy
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.
Posted: Sat Jun 30, 2012 3:28 pm
by Skippy
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.
Posted: Sat Jun 30, 2012 9:21 pm
by Broke of London
Hi! I've got the link here:
http://www.bankruptcyhelp.org.uk/forum/ ... C_ID=14575
It's quite a long post but there is a section entitled "discharge does not alter the position".
Hope it helps x
Posted: Sat Jun 30, 2012 10:29 pm
by Skippy
Thanks BOL x
Posted: Sun Jul 01, 2012 2:52 pm
by nomoremoney
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.....
Posted: Sun Jul 01, 2012 2:58 pm
by Broke of London
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.
Posted: Sun Jul 01, 2012 5:29 pm
by Daniel Griffiths
Hi Nomoremoney
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.
Posted: Sun Jul 01, 2012 6:14 pm
by Skippy
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!
Posted: Sun Jul 01, 2012 7:32 pm
by Broke of London
As long as you haven't claimed it and spent it you should be fine Skippy!!!!!!
I think the problems will come if the OR tries to recover the asset from the former bankrupts.