reclaiming ppi after an iva?

PRIDDY7_2

Can I try and reclaim ppi on credit cards after an iva? We have had cards for many years and approx 2 years ago got into difficultys and ended up in a debt management plan but after a year my parents gave us a lump sum to do a first a final iva and clear the debt. This meant we were only listed as being in an iva for 1 month and then it was clear. Feel like im being cheeky asking but we did keep up payments for a long time and so as I now know was problems with the mis-selling would like to look at it if possible. Thanks Sarah

dunstonh

Feel like im being cheeky asking but we did keep up payments for a long time and so as I now know was problems with the mis-selling would like to look at it if possible.

If your complaint is upheld then the redress that becomes payable can first go against any amount that was written off in as a reduction of your debt. Only if there is a surplus above this will you see any.

PRIDDY7_2

what even though in a first and final it is an accepted amount they agree to? For example whereas in a normal 5 year iva you have to use any colateral you can free up from your home this wasnt the case with first and final?

dunstonh

what even though in a first and final it is an accepted amount they agree to?

yes. Effectively you didnt pay the PPI in full. So, it would be wrong for you to get a refund in full.

PRIDDY7_2

Yes I understand that bit but surely the 7/8 years we paid it before financial problems should be looked at? At the end of the day the majority of the debt thats written off was the interest.

~Brock~

PRIDDY7 wrote: »

At the end of the day the majority of the debt thats written off was the interest.

Does that make it OK then?

When you shop at Tesco do you offer them the wholesale price for your shopping and expect them to be happy with that?

dunstonh

At the end of the day the majority of the debt thats written off was the interest.

Its still debt that you agreed to and money that the provider lost that they were entitled to.

PRIDDY7_2

Ok I take it you dont agree with ivas then seen as though the answers you give are very negative!!! Im not asking for them not to take what they are owed just that can I still claim and come out with something!!! I could have contnued on debt management for the next 90 years and the debts wouldnt have been clear but I took the responsible decision to use the offer from my parents to repay what I could and not take a world cruise!!!! well thanks for being so understanding and helpful not!!!!!

PRIDDY7_2

And through another site I have found that I am entitled to apply for refund due to the amount of time my accounts were upto date before my financial issues as I am not in an iva anymore!!!!

dunstonh

Ok I take it you dont agree with ivas then seen as though the answers you give are very negative!

Nothing about being negative. Its about the facts.

well thanks for being so understanding and helpful not!!!!!

Ok. would you prefer it if we lied to you just so you could feel better?

PRIDDY7_2

I feel sorry for anyone having financial difficultys who comes to you for financial advice then I didnt ask for your approval but dont expect for you to look down your nose at me!!!