Just had an email saying I owe my PPI money (long spent) to my old IVA Company!!!

CodaQueen
CodaQueen Posts: 10 Forumite
in IVA & DRO
I had an IVA from 2007 to 2010 which was fully paid off. Over the last 3 years I have claimed back almost £20k in PPI which I have spent on my wedding, honeymoon & a few other bits & pieces.

Today I received an email saying I need to contact Freeman Jones who handled my IVA with regards to paying them the PPI money.

I'm now utterly stressed out as I haven't got that kind of money & don't really want to go back into a state of extreme debt for money I wouldn't have even gone to claim had I known this would happen.

I have read up a little on the Green vs Wright case which they have cited but I really don't know what to do.

Any advice?

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    Ask if you can set up a repayment plan, if you cannot repay in one go.
  • CodaQueen
    CodaQueen Posts: 10 Forumite
    Just hacked off after being debt free for 7 years I'm being plunged right back into it tbh

    I'm 37 and my future seems utrerly pointless & in a rut now

    Devastated doesn't cover it
  • sourcrates
    sourcrates Posts: 28,848 Ambassador
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    Stupid bloody ruling, don't know what the courts are playing at.

    I would wait until you get something in a letter, you don't need to respond to emails, then tell them you simply don't have the money any longer.

    Contact national debtline for further advice.

    Are you sure the ruling can be applied retrospectivly ?
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • CodaQueen
    CodaQueen Posts: 10 Forumite
    What I've read of it, it does appear that it can. Anything that was associated to the debt is seem as something recoupable by the company that managed the debt...
  • sourcrates
    sourcrates Posts: 28,848 Ambassador
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    CodaQueen wrote: »
    What I've read of it, it does appear that it can. Anything that was associated to the debt is seem as something recoupable by the company that managed the debt...

    I believe, and the devil is in the detail, this only applies to an "all assets IVA", which means you need to check your paperwork very carefully, if you no longer have it, ask your ex IP for a copy.

    I wasn't aware there were different versions of IVA, apparently there are, I'm lucky, mine ended in 2014, I never had any PPI for any of the debts inc in mine.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • CodaQueen
    CodaQueen Posts: 10 Forumite
    Thanks for that. I'll have to rummage in my parents garage for my paperwork relating to it & check it all out!
  • coolcait
    coolcait Posts: 4,803 Forumite
    First Anniversary Combo Breaker Rampant Recycler
    The paperwork - especially the wording of the agreement - is probably key.

    If you can't find it in your own records, can you ask the company to prove their point by providing a copy of the agreement with the relevant sections highlighted. If they can;t provide a copy of the paperwork, after all, how can they prove that they have a point? ;)

    Protected Trust Deeds in Scotland are not identical to IVAs, but there are enough similarities to let people say that they're 'the closest equivalent'.

    There's been a long-running saga here over PPI refunds for/to people who were in a PTD and have now been discharged.

    The Court of Session, Scotland's highest court, has said that - for PTDs which had a specific wording - the PTD ends when the debtor and trustee are discharged, so the PPI refund should go to the individual.

    The former trustee in a closed PTD has been given permission to take his case to the Supreme Court. I have no idea when the case will be heard, because it took ages to even get confirmation that the permission had been granted!

    I can't say how much that case would affect cases where PPI refunds are made after an IVA closes. But it might be worth throwing it into the mix?
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