PPI Change to current process of refunds to Discharged Bankrupts

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Petition Action

PPI Change to current process of refunds to Discharged Bankrupts

Additional Information

Currently, if a Discharged Bankrupted individual discovers that they were mis-sold a PPI product prior to their Bankruptcy, and the Bank/Financial Institution agrees to make a Full and Final Settlement to the individual for their mis-selling, any funds will go directly to the individuals Bankruptcy Trustees if there are still any Creditors following the Bankruptcy. The 12 month 'Free from debt' following the individuals Discharge does not apply.
As these products were mis-sold in the first instance incuring additional costs the Bank/Financial Instutions may have been culpable toward the individuals Bankruptcy. This is not right so must be changed so that any policies discovered to have been mis-sold should go directly to the individual and not back to Creditors.

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