IVA Provider appointing Firm to claim PPI on loans within the IVA

RuthnJasper

Right. I am annoyed now! :mad:

I have just had a 'phone call at work from Equity in Finance wanting to know if I'd "signed and returned my forms yet" (the third such call in recent days). I replied that I was looking into doing the PPI claims myself and the EiF lady said that she would have to report this to my IVA company, with a strong inferrence that the IVA people would not be happy with me.

I asked if she would mind letting me know how her company obtained my details from my IVA Provider (DebtFreeDirect) and she said that EiF was "working in partnership" with them. She also pointed out that DFD will be contacting me to pursue why I haven't signed the forms for EiF. I am going to save them the bother and ring them myself now. Will post any outcome later... Grrr...:mad:

lucieloo

RuthnJasper wrote: »

Right. I am annoyed now! :mad:

I have just had a 'phone call at work from Equity in Finance wanting to know if I'd "signed and returned my forms yet" (the third such call in recent days). I replied that I was looking into doing the PPI claims myself and the EiF lady said that she would have to report this to my IVA company, with a strong inferrence that the IVA people would not be happy with me.

I asked if she would mind letting me know how her company obtained my details from my IVA Provider (DebtFreeDirect) and she said that EiF was "working in partnership" with them. She also pointed out that DFD will be contacting me to pursue why I haven't signed the forms for EiF. I am going to save them the bother and ring them myself now. Will post any outcome later... Grrr...:mad:

It all stinks!! really bad that they are going to charge 40% too.

amos01_2

lucieloo wrote: »

It all stinks!! really bad that they are going to charge 40% too.

I am going through the same with different IVA company, I have not signed my form and have contacted my local Citizen Advice Bureau to see where I stand with this, I have already started processing any PPI Claims and dont see why I should pay someone a third of any claim for something that I can do for free :-(

KoollK

I too have had contact from a third party via my IVA provider asking me to complete numerous forms to allow them to claim PPI on my behalf.

I am furious that my details have been passed to these people without my permission. Equally the IVA also meant that I had no contact with creditors and thats how I want that to stay.

I am halfway through my IVA now...mine is for 6 years, not the usual 5 and I have never missed a payment. So this letter is going in the bin. I feel like they are already getting their pound of flesh from me...not the best attitude but there you go.

Here is a brilliant idea for the IVA companies; make contact with me yourself. Send me some illustrations as to how much my IVA could reduce by. So "reclaim £y and reduce your IVA payment by £x...or your term by x months" maybe then I would think about it. But
to receive this letter via a courier is a disgrace and its made me feel threatened to be honest.

Surely they cannot force me to do this? I dont care about any payout I just want to pay my IVA and be done with it. Can they really fail me for refusing to do this??

Any thoughts appreciated!!

debtinfo

Yes, the PPI (if it was missold) is an asset in the IVA, there would be no reduction, that is not how IVA's work, you Pay everything you can over the term, so if it turns out that you have more assets available to pay then you pay more, just the same as if your pay increased or you got sme other windfall

FoggyBrain_2

Hi Kool ... in theory, yes, they can fail your IVA for non compliance. This, so far, hasn't been tested and will depend on the attitude of your IP toward the matter.

Vikipollard

In the event that I get sent the forms (which seems to be all the rage at the moment), they will simply receive a letter saying it was not missold ~ even though it was.

I refuse to allow some pondlife ambulance chaser company to claim 40% to do s*d all. So even though I know the £90+ a month I paid on my credit card WAS forced, not agreed to, they can bloody well whistle.

debtinfo

Vikipollard wrote: »

In the event that I get sent the forms (which seems to be all the rage at the moment), they will simply receive a letter saying it was not missold ~ even though it was.

I refuse to allow some pondlife ambulance chaser company to claim 40% to do s*d all. So even though I know the £90+ a month I paid on my credit card WAS forced, not agreed to, they can bloody well whistle.

So just for the record,and for all the MSE staff, court officials and IP's reading this, you intend to lie to your IP regarding your IVA which is registered with the court and goverened by an act of parliment and therfore subject to the perjury act.

Please confirm with a yes or no

KoollK

No I dont intend to lie to them...they need joint approval for all of mine anyway and my ex partner is refusing to give his approval.

Also surely the debt is not an infinite amount so at some point the term and the money owed would be reduced? I am paying a high £pp rate and an extra year as it is.

I will write back to my IVA company and suggest that I claim this independently as if I am honest the 40% fee does not sit well with me. Its a bit of a kick in the teeth.

I would like to know why they feel they can share my confidential details with a third party surely this breaks data protection?

Anyway thank you all for your comments so far...I am a newbie so your help is appreciated!!

debtinfo

Hi KoollK, i quite agree that 40% is rediculous and as i said in an other thread it may be worth writing to them pointing out that by you applying yourself there will be a greater return to creditors and that they may call a meeting of creditors if they so wish to check that the creditors want to receive a greater amount.

Obviously there cannot be an ifinite increase in the amount collected but it would increase until the point where all the creditors plus interest plus the costs of the IVA have been paid. if all that is paid then the iva would complete early and you would get to keep the rest. Obviously that does not happen very often but if you are paying a very high percentage already and there is a chance of you paying everything then it is all the more importnat to resist someone taking 40% of a PPI reclaim.

As for sharing information, i fear that there is probably some clause either in the agreement which allows then to do this, the DPA doesent necessarily stop people sharing data it just lays out the terms of when and how companies can