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My computer shy friend took out PPI in 2002 which was mis sold.
He subsequently went bankrupt because he could not keep up with payments on loan.
Could he still reclaim back PPI, or has the right been lost when his assets/liabilities were written off?
My computer shy friend took out PPI in 2002 which was mis sold.
He subsequently went bankrupt because he could not keep up with payments on loan.
Could he still reclaim back PPI, or has the right been lost when his assets/liabilities were written off?
Appreciate some help folks
Hello Reclaimone,
I am unsure about this. He may be able to, but I think the money if refunded would be taken from him under the conditions of the bankruptcy.
Maybe have a look at threads on bankruptcy, start a thread on the legality forum or ask one of the mods for input.
Good luck
If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW
Was the bankruptcy caused because of any possible misselling.?
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I Wish you everything you wish yourself.
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NatWest Claimed £1,639. Accepted £1,344.
Natwest Paid me again as GOGW £1,656. Yes they can have it back if they say please.
Barclays 1 Claimed £1,260. Won by default. Paid in full
Barclays 2 Claimed £2,378. Won by default. Paid in full
Birmingham Midshires. Claimed £2,122. Accepted £2,075.
Basically, any choose in action / right of action would be lodged in the bankruptcy estate. You would be able to get a family member / friend to purchase it from the OR, although the OR has the discretion to refuse to sell it.
IMHO, it's better to start the actions before going bankrupt, as there is a higher chance of the OR selling them.
i will be off site for the next month or so. if you have any problems, feel free to report the post so a moderator can help you.
He feels very angry about it as there was a single premium PPI added to the loan which he knew nothing about.
Thats understandable.
My point was, could he have avoided bankruptcy, had he not been missold any PPI.
I.E..Was the PPI amount anywhere near the BP amount.
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I Wish you everything you wish yourself.
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NatWest Claimed £1,639. Accepted £1,344.
Natwest Paid me again as GOGW £1,656. Yes they can have it back if they say please.
Barclays 1 Claimed £1,260. Won by default. Paid in full
Barclays 2 Claimed £2,378. Won by default. Paid in full
Birmingham Midshires. Claimed £2,122. Accepted £2,075.
If the bankruptcy was caused by misselling of any kind, you could go back to court to have the bankruptcy annulled.
But its difficult to comment on assumptions alone.
Good Luck.
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I Wish you everything you wish yourself.
.
NatWest Claimed £1,639. Accepted £1,344.
Natwest Paid me again as GOGW £1,656. Yes they can have it back if they say please.
Barclays 1 Claimed £1,260. Won by default. Paid in full
Barclays 2 Claimed £2,378. Won by default. Paid in full
Birmingham Midshires. Claimed £2,122. Accepted £2,075.
Can I reclaim missold PPI if bankrupt?
in 2002 which was mis sold.
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Originally Posted by reclaimone
