PPI After IVA - HFC Reclaim Success Sort of? Please Help!

FoggyBrain_2

don't think anybody says it's fraud ( which it isn't). It's just that IP's have differing ways of dealing with it .. and we are stuck with whichever way our own IP handles PPI.

If you want to claim it and you are allowed by the creditors or the IP to keep it, that is your call. If the IP decides it is an asset of the IVA, whether completed or not, you are stuck with that until someone takes it to court and the case law decides which way it should be handled.

Of course, taking these things to court could be costly, and who, having just come out of an IVA can afford the risk?

My personal feeling was when my IVA is over, I want nothing more to do with the debts -- I have had a good chunk written off ( or at least I hope I will) and saved a fortune in interest. By then I will just want to see the back of the whole sorry episode (do already!).

Gimpsdad

Another question.

You have one more payment to make to your IVA. You buy a lottery ticket and get 5 numbers and the bonus ball. You decide to sit on the ticket for 5 months and 3 weeks. Your IVA has finished and you have the certificate of completion. You claim the money. What are you? You are a fraudster and you may get away with it, but if you don't then you deserve everything you get.

Now, let's say you bought the lottery ticket and left it in your gardening trousers and completely forgot about it. 5 months and 3 weeks later you find it and cash it in. Are you a fraudster? No, but you still owe the money to the IVA.

I don't know why peope have a problem with this. The issue is NOT about mis selling, the issue is whether it is an asset of the estate. If you accept it is, even if you didn't know about it (gardening trousers) then it is NOT YOURS.

If you see my previous post, which is from an IP with nigh on 40 years experience, then it could not be clearer that whilst the PPI may not have been known about at the time you signed up, then ignorance of that fact is not an excuse to claim money that is owed to the estate and not to you.

Good luck to all those on here that try and reclaim money that does not belong to them. I have no time for greedy creditors, they drive me insane, but I have even less for greedy debtors.

Slinkyskills

Thanks for the response whoever it was.

I'd just like to point something out. I acknowldge that the debts that I built up I have to repay to my creditors, that is fine I don't have a problem with that.

What has got me is that MBNA have added Payment protection cover into my monthly repayments without my consent, this is clear as I requested a Subject Access Request detailing a full breakdown of my account and on my credit agreement where it states "We strongly advise that you take out PPC etc etc, please tick YES" I clearly did not tick yes yet it was still added in without my consent so regardless of whether I'm in an IVA or not this is my money, not the creditors as it is a creditor who added this in without me asking for it in the first instance, whilst at the same time increasing my overall debt.

Surely whether a court is not sympathetic anyone with half a brain could understand that . That is MY money not the IP's or my creditors...mine.

I'm still going to challenge this IF they write to me saying it has to go to my creditors as that is not on. I did not ask for PPI and like I said I agreed to pay back debts accrued through my credit card not debts accrued for something I did not request.

I am going to go mental on both MBNA and my IP if this happens as I'm not going to be happy whatsoever.

Gimpsdad

You owe more because of the mis-sold PPI, that much is clear.

Ok, you owe 50k, of which 10k is mis sold PPI. You only owed 40k therefore seems to be your argument, fair enough, I'll accept that, to a point. You pay back 20k in your IVA. 20 out of 40, and now you want the the 10k back as well?

Sorry, it doesn't work like that however much you may or may not get your knickers in a twist over it.

TomBoyNI

I think you can easily argue both sides of this coin. However forgetting what seems to be getting your knickers in a twist is that the money is owed to the IVA. Which I fully understand. My question comes down to what happens when the IVA is closed. Does the debt be written off or not. If not then a PPI claim comes and it has to go to the debt that exists but doesn't?

When does it die? Does it ever?

If not then say in 20 years when I am credit repaired and go to HFC and apply for a loan. They say yes and agree to lend me £20k. But from my old IVA I owe £15k. Does this mean I know actually owe £35k to HFC.

Just a hypothetical question in the same lines as yours regarding inheritance, lottery wins and gardening trousers?

There seems to be black and white legislation on this matter regarding BR but none in relation to IVA.

BillyWilly_2

TomBoy,

A question I asked a while back, on a similar thread. When does it die, a day, a week, a year after you get that completion certificate?

Anyway, once I got my completion certificate that was me done and dusted. I don't care what anyone else says. I have had no contact whatsoever from the IVA company I used and have now been granted credit (mortgage, credit card).

If someone had left me a million quid in their will which was dated during my IVA (in essence an unknown asset) and I collected it 5 years after my IVA had finished it there is no chance the IVA company would see any of it.

Similarly with PPI, at the time an unknown asset. I think these posters who like to look like they're honest and moral and crackers. It would be good to see what they would actually do, although I think I know the answer...

TomBoyNI

That too is a good point and raises another point. This agreement of mis sold PPI is dated June 2012. 18 months after the completion of my IVA. It's not as if it existed prior to that or was hidden away waiting to be claimed at the conclusion of my IVA. And to your last point, I think I know too.

FoggyBrain_2

I doubt you do know the answer to that question, at least in every case. I for one would adhere to the terms of my IVA -- naturally I would hope that my IP was one of those who'd not bother, but if he wanted it he can have it.

To put a little context on that -- I chose to do my IVA as an affordable way to get back as much as possible to my creditors, according to it's terms. If I was out to keep as much money for myself as possible I would have gone bankrupt, as I have no property to protect and would have saved a few quid.

You might like to think you know that answer -- but don't make assumptions about people you know zilch about.

BillyWilly_2

Foggy,

My aim is certainly not to offend however I was merely making a point that once the IVA is complete and time passes (say a year) I'm sure most would not contact the IVA compamy and offer it to them.

I was also open and honest throughout my IVA with regard to income/expenditure etc however now being 18 months out of it I would not offer them any PPI money. (I am not a claimer by the way).

The question still remains how long before you say enough is enough or do you have the IVA hanging over you for life?

Gimpsdad

billywilly's scenario about the will would be fraud, and what is worse, he knows it. He would probably get away with it, but if he was grassed up to his IP for fraud, then every IP would bankrupt him post IVA.

It would be no more than he deserved.

The date of the admission that PPI was mis sold is still irrelevant, as it was an asset of the estate. I can't believe that so many posters on this forum seem to be knowingly encouraging people to break the law.

This isn't rocket science. The ppi is an asset of the IVA estate, as would be a lottery win, inheritance etc. When the IVA is closed then a lottery win, or inheritance after completion is safe as it cannot be touched. Argue as much as you like but that is the way it is.