Mis-sold PPI Claims in Insolvency
Although claims for mis-sold PPI in insolvency are possible, this is a highly specialised area requiring a bespoke service.
Due to our successful work with a number of Insolvency Practices, DRSP Limited ("DRSP") have developed a process for reclaiming mis-sold PPI which is not only beneficial to the specific form of insolvency procedure that an individual is in, but is also one which fulfils the obligations and requirements of the Insolvency Practitioner.
Our insolvency process may help regardless of whether or not your insolvency is still running and can include those who are or have been:
- The subject of an Individual Voluntary Arrangement (IVA)
- The subject of a Protected Trust Deed (PTD)
- The subject of a Debt Relief Order (DRO)
In all instances, any claim made by an individual who has been made bankrupt will vest in the Trustee of that bankruptcy if the mis-selling occurred prior to the bankruptcy order.
If you were or are the subject of either an IVA or PTD then you need to check your proposal to discover whether you might be entitled to all or some of any compensation paid. However, in most cases the claim will belong to the insolvent estate.
If your DRO has been successfully concluded, then the funds are yours; if not then it belongs to the Official Receiver for the benefit of your creditors.
In the vast majority of instances, DRSP will need to get the consent of whoever is overseeing your specific insolvency procedure to be able to work on your behalf, but a number of Insolvency Practices already refer their clients directly to DRSP.
Our exact service is tailored to the need of the Insolvency Practitioner but our typical service will include:
- A credit search
- Subject Access Requests being sent to all lenders
- Full review of all documentation
- On-going reporting for each and every case
- Final report to the Insolvency Practitioner confirming the total amount of claims if applicable.
For our service we charge the estate a fee of between 33.95% and 40% inclusive of VAT. This is paid by the insolvent estate. This means that for every £100 of financial benefit received by the estate, a fee of between £33.95 and £40 will be payable inclusive of VAT.
We get your Insolvency Practitioner’s consent prior to submitting any claims so we are, in effect, working for them. No fees will be charged to you although any funds recovered will need to be dealt with in accordance with the terms of your IVA, PTD, DRO or bankruptcy.
This is a bespoke service and contracts may contain differing conditions depending on the requirements of your Insolvency Practitioner and the type of insolvency procedure you are in or which the Insolvency Practitioner wishes to avail him/herself of.
For specific terms and conditions under Insolvency, please contact our offices or your Insolvency Practitioner directly.
If you would like to pursue a claim or you are an Insolvency Practitioner who wants to use our bespoke service, please contact us on 0800 849 5078.