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reclaimin ppi with an iva

rodders4128
rodders4128 Posts: 1 Newbie
in Reclaim PPI & other insurance
my iva company are pushing for me to claim back my ppi. I'm concerned any money will just go to them and I'll get no benefit from claiming.I have untill september2013 left on the iva.should I go with their advise? or is there alternative motives behind the iva company's offer?

thanks you

Comments

  • dunstonh
    dunstonh Posts: 120,708 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    I'm concerned any money will just go to them and I'll get no benefit from claiming.

    It will. The pecking order of where the money can go is first against any debts that were written off/reduced. Then against any debts you have outstanding under the IVA.

    The IVA company see it as an easy source of capital to benefit them. It may well help you if you havent had amounts written off but that is not a reason for complaint. What would be your complaint reasons?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • magpiecottage
    magpiecottage Posts: 9,241 Forumite
    1,000 Posts Combo Breaker
    If you have a valid complaint the that would release funds which will first be used against any outstanding debt with whoever the complaint is against and then be released so that it can be shared between other creditors.

    However, you should not make a complaint that you believe to be fraudulent.
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