I.V.A question

Sonn1e · 30 September 2008 at 2:19PM

Hi can anyone help with this question. i am currently one year in to an I.V.A. and now i find out that some of the companies i am paying off have miss sold PPI to me. so my question is can i while in an I.V.A chase them for this money back.
i am sure if i do they will just put it back into the I.V.A, that fine by me less to pay off.

:cool:

System · 4 October 2008 at 8:42PM

Hi there,

Any income over £300 iirc has to be declared in an IVA and will therefore be rolled back into the IVA.

Sorry

13000

Rylynn · 5 October 2008 at 12:28AM

Sorry what do you mean 13000, what is PPI sorry not sure on that either.

On IVA anything over £500 has to be declared unless they have changed the laws yet again on this, income any increase or bonus has to be declared not just over £300 to my knowledge of them, having been in one.

blind-as-a-bat_2 · 5 October 2008 at 10:56AM

Sonn1e wrote: »

Hi can anyone help with this question. i am currently one year in to an I.V.A. and now i find out that some of the companies i am paying off have miss sold PPI to me. so my question is can i while in an I.V.A chase them for this money back.
i am sure if i do they will just put it back into the I.V.A, that fine by me less to pay off.

:cool:

You can despute the amount you owe at any time, but you are correct if you get anything back it will almost certainly be added to your IVA "pot"

I doubt it will effect anything in regards to how much you end up having to pay as your creditors have accepted a % in the £ but it will be in the agreemant that if you have a windfall that will be added to increase that %.

Reclaiming PPI is not an easy task at best, and i cant help feeling that it will just be a lot of work for you for no gain to yourself sorry

draytonled · 9 October 2008 at 10:09AM

I V A people are sharks ( most of them) i had one and then went bankrupt it was the best thing i di (going bankrupt)

al54321 · 9 October 2008 at 1:32PM

hi draytonled & everyone

im currently in an iva been going 19 months now before the credit crunch started. now im finding it hard to meet payments, have asked payplan if i could reduce my payments but they say im paying the min that they would accept.
Is it possible to go br from here? how do i do it? through payplan or do i go it alone? i would have to not pay my iva so that i had enough money to go br with i think its £490 but i might be wrong.
if only this credit crunch hadnt came along we would have been ok & managed to finish it off

blind-as-a-bat_2 · 9 October 2008 at 3:08PM

Hi al54321 you need to ask if there is provision in your IVA for them to make you BR on failure first, and if you have paid enough for that to come ito force if there is, if so you may not need to find the fee.

Dont get your hopes up though but its worth asking the question

al54321 · 9 October 2008 at 3:55PM

thanks blind-as-a-bat

i spoke to CAB a little while ago and they said i should pay as much as i could afford (which is less than what PP is asking). im up to date with household bills & we rent off the council so i cant see that being a problem if we do go BR.
i also spoke to PP to reevaluate my finances & to see what they can offer me.

I.V.A question

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