IVA and PPI

HestahBB

I have an IVa which i've been paying back for the last 4 years I recently reclaimed ppi and was told i'd get a substantial refund, i contact my iva people who told me the money would be treated as windfall and kept till the end of my iva period i would have to continue making repayments. I lost my job due to redundancy and quickly got another one but the pay is much lower and I am now struggling to meet my repayments. I have contacted my iva people recently and taken two payment holidays and am now due to start making full repayments again. I contacted my bank about the ppi money as they have gone quiet about it and I also wrote to them asking them to use the ppi money as a full and final payment on my debt in the hope that this would bring an end to my IVA however heard nothing and also asked my iva people but they are not interested, my issue is that I am likely to default and feel that my iva people are not interested in helping me out at all the only option they have given me is to extend my iva. The amount of money I have paid to date plus the ppi money will be more that what I actually owe so that is making me very unhappy that there seems to be no flexibility in any of this situation.

IF

Hi HestahBB and welcome to the forums. I would post your question on the IVA & DRO Board too. You will get more help and support there, as this is the Bankruptcy board.

IVA & DRO Board - Click here


Best wishes
If...x