old PPI found - but i went Bankrupt in 2011 - is this money mine?

[silentmovieman]

I have received a letter from Barclaycard asking me to confirm my details in respect of something to do with my former SkyCard payment break plan.

 

I rang the number and was taken through to the complaints team who asked me to fill out the form and return it.

 

Has there been something in the news about this that I have missed as its all come a little out of the blue?

 

I did have a SkyCard but that went away with all my other debts when I was declared bankrupt in April 2011 (i was discharged in October 2011), and I dont remember having any cover but then again maybe I did. I'm assuming they're contacting me in regards to potential compensation or something.

 

On a related note, a couple of years back I was contacted by Natwest who informed me that I was entitled to compensation for missold PPI, in total they sent me just over £4500.

 

Due to the bankruptcy I of course informed the Insolvency service

and they thanked me and told me they would deal with it.

 

 

Jump forward two years and I recently discovered that the money is still sat in an account in my name

but has a no transcation marker on it.

 

 

I once again contacted the insolvency office and they gave me the same speech as in 2014.

 

 

Having checked back with the bank however the money is still sat there

and seemingly the INsolvency service arent that bothered about taking it.

 

 

So where do I stand in regards to the money,

Is there a period after which I would be able to access it

or will it always be theirs regardless of their inaction?

[citizenB]

Very interesting that the Insolvency company haven't grabbed this.

 

I will try and find someone who can help.

 

As for the Sky payment break plan - this product was mis sold and you are very likely due repayment. So perhaps just go ahead and complete the form.

[citizenB]

https://www.citizensadvice.org.uk/debt-and-money/debt-solutions/bankruptcy-2/PPI-claims-after-bankruptcy/

 

Link above provided by andyorch for you.

[silentmovieman]

Thanks for the link.

 

 

I have read that previously so know what the general situation is.

I was just wondering if the circumstances of my situation change anything.

 

Declared bankrupt Apr 2011

Discharged Oct 2011

Contacted by Natwest 2014 and told that I am entitled to PPI compensation (they wrote to me not the other way round)

 

The compensation was apparently paid into my old Natwest bank account that had been closed

when I was declared bankrupt

 

After being contacted by Natwest I immediately contacted my local Insolvency office

and was told that they would deal with the matter directly with the bank

so I thought that that was the end of the matter (this was all in 2014)

 

Recently I had cause to contact Natwest and was informed that I still have an account with them

which can only be the PPI compensation as I cannot think it would be anything else

I again contacted my local Insolvency office and once again was informed that they would deal with it

 

This was a couple of months ago and I have checked in with the bank

only to be told that the money is still just sitting there.

Its almost like the Insolvency service cant be bothered to go looking for it

[shamus59]

When we have a justified claim and the client is a discharged bankrupt, we pay the client, then it is up to them to contact the trustee's or the insolvency office.

 

To date, we have never received any communication that what we are doing is wrong.

 

James

[citizenB]

James, except in this instance, the money has gone to a dormant account that can no longer be access by the client !

[shamus59]

The OP hasn't said that he doesn't have access to the account, he just said that he advised the Insolvency Office that the account existed. I think it's a case of, he doesn't want to touch the account in case they wrap his knuckles and he just wants to know what he can actually do about it.

 

My information could be totally wrong, but as I have said, no one has ever told us that what we are doing is wrong and (so far) we have never had any come back regarding this.

 

James

[citizenB]

James, my apologies, you are correct - there has no mention of it being an account that cant be accessed

 

Note to self - pay attention

[silentmovieman]

The account that the money is sat in is my old Natwest Bank Account that I had with the bank before filing for bankruptcy. As I was declared bankrupt in April 2011 the account was obviously closed then right?

 

Anyway three years later Natwest came to me with the PPI information out of the blue as I did not even think to file a claim for missold ppi. They informed me that I was entitled to compensation and I told them that I had been made bankrupt in 2011 (again I was discharged in Oct 2011) and was advised that I needed to contact my OR. I therefore contacted the OR immediately, gave them the details I had and left it with them as they told me they would deal with it.

 

Forward to the present day and I have discovered that my old bank account with Natwest is open and has the compensation money in it, I guess it was easier to reopen that one than to set up a new one? The account has a no transaction marker on it so I cannot access it, the staff at my local branch told me that this was because it hadnt been used in a while but would it be more likely linked to the bankruptcy?

 

Anyway I told the OR again but they once again have apparently opted to not go for the money again so it continues to just sit there not benefitting anyone.

 

I have no doubt that the bank have acted correctly so my question really relates to the OR and the fact that they have not claimed the money.

[martin2006]

Could you then obtain a letter from the OR confirming or denying whether you are entitled to receive it if they are not interested in chasing it themselves

[silentmovieman]

Well the twice I have spoken to them to tell them the money was there they thanked me and tole me that they would deal with claiming the money from the bank yet they have done nothing. This would say to me that they wouldnt be prepared to write a letter like you suggest.

[martin2006]

Without any kind of written confirmation from the OR i think you can safely say that you cant have it.

[silentmovieman]

So anyway i contacted the bank just to see if the OR had actually pulled their finger out and sorted this out but was told that they still havent bothered. So I had a conversation with the lending team (after being passed from customer services, debt management and ppi departments to see if the no ops marker could be removed from the account (I figured that if the OR isnt going to sort it out then maybe I could free up the money and send it to them as it seems ridiculous to leave it just sitting there doing nobody any good) and they informed me that it would have been the OR that put the marker on the account and therefore they would have to be the ones who removed it.

 

Does this sound right? I mean I was bankrupt and discharged in 2011 and then Natwest paid me compensation in 2014. Like I already said I told the OR at this time and they told me they would sort it but clearly they havent. If they were responsible for putting the marker on the account in 2014 then why did they not just take the money then?

 

According to the person at the bank I spoke to the only other way to get the marker removed would be in a Natwest branch though I dont see how this is possible if they cannot do it in the customer service department.

[citizenB]

I think you should write to the Administrator of your BR - ask them what they are planning on doing and that you would like a swift response.

 

I wonder if this is something the Financial Ombudsman would be able to look at for you ?

[citizenB]

Would you be able to provide more information on your BR.

 

You were discharged reasonably swiftly from what I can see, BR in April 2011 - discharge October 2011 ? was this due to there being no assets/funds ?

 

Was it a huge amount you were made BR for ? If you had had that PPI money prior to the BR would it have solved your financial problems?

[silentmovieman]

The total debt was £31,700 so obviously the PPI of £4600 wouldnt have made much difference really.

 

The BR came about following my defaulting on an IVA with Kingsgate (the IVA had previously been a debt management programme so all in I was paying back against my debts for about 4 years. The BR was discharged after just a few months because as you rightly hinted at there were no assets or savings to deal with.

 

I know its the wrong attitude to have but when things like this happen you wonder why you bothered going the correct route in the first place and didnt just claim the PPI in 2014 without telling the OR.

[silentmovieman]

Out of interest are there any circumstances under which you can write to the OR and ask for the money to be freed up rather than it being taken by them?

[silentmovieman]

Quick update -

 

Turns out that I was entitled to compensation for the Sky Card payment break policy and that has been completed.

 

As far as the other issue of the money sat in the Natwest account that the OR was doing nothing with.

I jumped through hoops and got the account reopened.

I then left it sitting there to see if the OR would act but they continued to not do so.

I therefore transferred some of the money into my other bank account (with Barclays)

but didn't spend any of it just in case.

 

yesterday my Natwest account became inactive again which Im going to assume

means that the OR have FINALLY pulled their finger out and decided to act.

 

 

Is it fair to assume that they will take the money thats left there and then come looking for the rest?

Is there any legal recourse they may take?

I don't want to get into any further difficulties with them which is why I didn't spend any of it,

it just seemed like such a waste having it there not accruing any interest.

 

Or will they take the money from the NAtwest account and leave it at that (wishful thinking I know).

Guess its my own stupid fault for being upfront and contacting them again

at the turn of the year rather than being dishonest about it and just getting the money for myself.

[janjef]

My OR removed a marker within days of asking.

Just saying...reckons it depends on the one you are dealing with.

 

Mine was fair and helpful and had a good negotiation on my house equity

which i was able to save with help of some friends.

 

 

Its all a bit odd this PPI after Bankruptcy.

 

I have one I am going to try and see what happens.

I have come back on here to find the spreadsheet to work out the interest.

 

Anyone have the link for me please before I pull my hair out looking for it?.

 

Lol Thanks in advance.

p.s. You have been very honest.

As they dont seem bothered about taking the money I would do yourself a favour

r and just get it when you can sort this out.

[silentmovieman]

I'm assuming that they'll have taken the monies I left in the natwest account, best case senario is that they don't come for the rest

[janjef]

not always.

I had an account swanning around in the cloud doing nothing that was part of my Bankruptcy.

Seems that they forget to do them all.

Bank or OR fault I have no idea.

 

 

But I resolved it by going into the bank with my dsicahreg letter cos it was only a few pounds

and they just closed it and took the money which is what I expected to happen.

Otherwise it would still be sitting there and I dont want any repercussions coming up a few years down the line.

 

 

Fresh clean start is better. And BUDGETING Properly.

Its nice to be debt free nd able to save for once in my life

[silentmovieman]

In my case is over £4000 so highly unlikely they'd let it slide. I left £1400 in the account and moved the rest so guess watch this space

[janjef]

ok im amazed they didnt take it good luck

[dx100uk]

spreadsheets

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011

 

 

dx

[silentmovieman]

spreadsheets

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011

 

 

dx

 

What's your take on my current circumstances?