Iva and a possible ppi claim?

harmony802005

Hi there
I am doing this post on behalf of a friend,she just needs abit of information regarding a possible ppi,she got a letter from her bank saying that she is maybe possible that she can get a ppi claim and to fill in the information and thay will look into how much she can get or if she is entitle to a ppi claim etc,so today she recieved her letter saying she is entilted to a payout and that it will be paid straight to her but as she is in an iva you should inform them regarding this,my question is she has a few months to go in her IVA and if she does claim this money that she has paid will it go to the iva,she is just kind of confussed about what to do etc ,any advice or help that i can pass on to her would be so greatfully recieved,thank you in advance x

jimmy01

they will take it do not claim untill she has her all her paper work to say her iva has finished , i finished my iva 1 year ago and claimed ppi last week and the cheque went to the creditors , so be carefull

FoggyBrain_2

Technically the PPI reclaim is an asset and should be paid into the IVA --- even after it has completed. After all, the creditors have written off a chunk from the original debt and not charged interest for the term of the IVA, so the claimant is still quids in.