IVA/PPI help

Svensson8

Hi back in may I started proceedings to claim back PPI on a loan I was missold. Since then my finances detoriated to the point I was forced to go for an IVA which was accepted. Since then However I had heard back from Halifax about the PPI and was told that I could expect £545.81 back.

I had a letter back today saying the money had been paid into my bank account, but I no longer have that bank account as it all went into the IVA...What can I do? I don't want to ring Halifax as they were my biggest debtors in the IVA, Is it best just to forget about the £545?

Darren

Svensson8

Already posted this in the PPI section, Just wondering whether anyone in here had more knowledge about how the IVA would affect this?

di3004

Bumping......;)

Charco_2

It's a common tactic used by the banks: settle the disagreement (because they know they are in the wrong) but dont actually pay anything out - you can still pursue it however, as you're now in an IVA i reckon your creditor would have a fair argument for offsetting the debt!

There was a recent post on here about this (PPI in an IVA). I was saying that it's untested water really and there are no precedents however someone came on here to confirm that they had managed to reclaim quite a bit while in an IVA.

If you are going to persist, be sure to check your IVA agreement to see if it would be considered a WINDFALL and if the money would be coming to YOU or your IVA... then you'll know if it's worth your while!