We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
PPI refund while in IVA
CassyandClay
Posts: 26 Forumite
Hi all - please help!
A bit long winded but please bear with me!!
Back in 2004 I took out a secured loan on my home. I made only 7 payments on the loan then I remortgaged to pay it off in full. As the loan had a single premium PPI this was paid in full too - £13k of PPI. Since then I have been trying to claim this back!
In 2009 I lost my job and was in a bit of a financial mess. At this time I was given a lot of help from my grandparents who said I could pay them back if or when my claim was sorted.
After 10 months out of work I got a new job (Still there now) but the pay was not as good as the job I lost so we were still struggling financially. This forced us into an IVA at the end of last year!
Today we have recieved word that the loan company have agreed to refund us our PPI money! Good news? I'm not sure as I have done a little research and it looks like all of this money will be going into my IVA!!
Will I be able to keep any of this money to pay back my grandparents or will it all go into the IVA?
It is a claim company getting this money back for me so can I get them to make the cheque out directly to my grandparents so I do not have to pay the money into my bank???
Thanks in advance!!
MD.
A bit long winded but please bear with me!!
Back in 2004 I took out a secured loan on my home. I made only 7 payments on the loan then I remortgaged to pay it off in full. As the loan had a single premium PPI this was paid in full too - £13k of PPI. Since then I have been trying to claim this back!
In 2009 I lost my job and was in a bit of a financial mess. At this time I was given a lot of help from my grandparents who said I could pay them back if or when my claim was sorted.
After 10 months out of work I got a new job (Still there now) but the pay was not as good as the job I lost so we were still struggling financially. This forced us into an IVA at the end of last year!
Today we have recieved word that the loan company have agreed to refund us our PPI money! Good news? I'm not sure as I have done a little research and it looks like all of this money will be going into my IVA!!
Will I be able to keep any of this money to pay back my grandparents or will it all go into the IVA?
It is a claim company getting this money back for me so can I get them to make the cheque out directly to my grandparents so I do not have to pay the money into my bank???
Thanks in advance!!
MD.
0
Comments
-
Try posting in the IVA forum, you should get more help/advice there:)
http://forums.moneysavingexpert.com/forumdisplay.php?f=159:pB&SC No. 298
Life`s Tragedy is that we get OLD too soon
and WISE too late!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.7K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards