Claiming for ppi after Iva completion

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cheesedoffwithdebt
cheesedoffwithdebt Posts: 331 Forumite
First Anniversary Combo Breaker
in IVA & DRO
I've not looked at this forum for a while as my Iva completed in 2015, but I've now looked at reclaiming ppi just because there's a deadline and I've not done it. Spoke to a company yesterday who said they won't touch claims unless the Iva completion is more than six years ago. I thought they'd got things mixed up but found there's a case where the IP claimed ppi and paid it to an Iva which may set a precedent - I thought it might only stand if the original agreement of the Iva specifically cited ppi claims but I'm just not up to speed , does anyone know please ? Thanks !
now debt free and determined to maintain good spending habits and build savings

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  • PrettyKittyKat
    PrettyKittyKat Posts: 1,270 Forumite
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    it doesn't need to state PPI specifically. I think it is something to do with having an 'All Assets Clause' although someone more experienced may be here soon to give you specifics :).

    I believe you would still be able to keep the interest though so if you do it through a company, which takes minimal effort on your behalf, and the money did go to your creditors you would still receive some money.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    Don't under any circumstances use a claims company, as you will need to pay their bill out of your own pocket.

    Plus of course it takes longer and lowers your chances of success in any case.
  • sourcrates
    sourcrates Posts: 28,878 Ambassador
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    You need to check your paperwork, as any PPI claim can be taken by the IP even through your arrangement has ended, it is to do with the all assets clause of your arrangement, and has been ratified by the appeal court.

    To be honest you may as well not bother if it is just going to go to the creditors, but it may benefit you to give National Debtline a call to explain things further.
    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
  • PrettyKittyKat
    PrettyKittyKat Posts: 1,270 Forumite
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    Deleted_User wrote: »
    Don't under any circumstances use a claims company, as you will need to pay their bill out of your own pocket.

    Plus of course it takes longer and lowers your chances of success in any case.

    This wasn't the case in the IVA company I worked for, although I appreciate this was a few years ago now so may have changed since then so thanks for mentioning that. Lots of IVA companies at the time opened PPi companies to be able to make the claims due to the lucrative fees they could charge, plus of course then were able to take more fees in the IVA when it was paid in!
  • ade20
    ade20 Posts: 6 Forumite
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    Hi all, i have been trying to claim PPI back for around 12 months now , even the FSCS and Ombudsman pass me back and forth.they say Elderbridge will not let any info out .I took a loan out in 2011 with a company called First Plus Uk, now Elderbridge, i have 1 year left on the loan. i was sold PPI by a broker called Freedom Finance who no longer exsist, they became Wilmslow Finance but the ceased to exsist. I know i am owed £2690 because Elderbridge have confirmed this with a letter, but they wont pay me, they say it should come from Freedom Finance who no longer trade ??? its driving me crazy i have proof of what i am owed but cant get to it, i think only Martin Lewis could help me but theres no way i can contact him. Looks like i am going to lose it grrrrrrr
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