IVA completion and PPI claims

yeovil1069 Posts: 2 Newbie
edited 23 January 2012 at 1:07PM in IVA & DRO

A little advise please:

I have this month made my final IVA payment (after 6 years). I am waiting for the completion to happen (which I am asured will run smoothly as I paid every agreed payment on time).

However my IP wrote to me a few months ago and asked me to apply for PPI compensation through a PPI collection company (although I am very sure that Inever took out any PPI).

Will this process hold up my IVA completion ? It would seem unfair if it did as I have paid all payments as per original agreement with my creditors - this PPI (if there ws any) would be a bonus, right ?? My IVA provider alluded to the fact that it may hold things up if the claims were delayed and that I had no choice as to whether I applied for the PPI compensation or not (ie it was my duty to get as much funds into my IVA as possible)

Any advice gratefully received.


  • emmie42
    emmie42 Posts: 21 Forumite
    Who is your IVA with?

    I completed my with ClearDebt in March 2011 and they never asked me to do this.

    As far as I am aware they would not be allowed to hold up the completion for this unless they has specified it in the agreement at the beginning. I know if you have a house they can specify that you try and remortgage it at the end to release more funds but PPI reclaim is not a guaranteed thing!

    On another note, I am in the process if reclaiming PPI from some companies that were in my IVA and have so far been successful with 2 out of 3.
  • yeovil1069
    yeovil1069 Posts: 2 Newbie
    edited 23 January 2012 at 1:07PM
    I am with DFD.

    Like you say unless this was in the original agreement I cannot see that it can hold things up. I just need a bit of re-assurance really - it has been a long process paying my IVA and am proud to have paid my final payment, just panic that something like this will hold things up.

    To be honest it feels like they are just trying to get the PPI claims processed with their finance company "partner" rather than me pursuing claims myself after IVA has finished (which I am happy for them to do because as I said I NEVER took out PPI anyway)

    Thanks for your reply
  • FoggyBrain_2
    FoggyBrain_2 Posts: 1,121 Forumite
    Hi. I would write to them telling them catagorically that no PPI was taken out, therefore there is no claim to be made!.
  • emmie42
    emmie42 Posts: 21 Forumite
    Check your agreement and see but iva.co.uk has a really good forum where you might get more expert help.

    Good luck!
  • s.kaur_2
    also have a question on a similar topic, i'm currently looking to pay my IVA early by help from a third party this month, but have also made a claim to get PPI back on a very old loan which was taken out before the IVA and paid in full before i entered the IVA.
    Just wondering if the PPI is successful would i have to give this to my IVA?! if i did get a lump sum I'd really like to give the money to the person helping me pay my IVA of early as a thank you.
  • Vikipollard
    Would that be true if it was PPI from a creditor who was not involved in the IVA? Genuine question as I have about as much knowledge on this as I do on Astrophysics....:eek:

    I suppose technically it is a windfall, so would go to the IVA, but just wondered in case I'm misinterpreting!
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  • k1tten
    Hey I'm curious about this too, I also made my final payment in January after six years - so my IVA is effectively complete.

    However, three of the companies involved in my IVA did have potential claims and to be fair I probably wouldn't have bothered pursuing against them for PPI BUT if my IVA is complete - are they going to keep it open to see if these claims are successful.

    Can they actually do this?

    I am also with DFD!!!!!!
  • FoggyBrain_2
    FoggyBrain_2 Posts: 1,121 Forumite
    DFD are actively pursuing PPI claims before allowing cases to be closed down, under the premise of having a duty to maximise the return to the creditors. Your IVA isn't actually complete until you have been issued with a completion notice. If there are genuine ( and I stress, GENUINE) PPI claims to be had then they are, technically, an asset of the IVA.
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