IVA Full and Final agreed and paid but now I have a PPI refund

bscdjc1

Morning all,

So I was 3 years into my IVA when my wife got some insurance cash back. I had £6k to pay on my IVA and we offered £10K to pay it off. It went to court to a creditors meeting and was agreed. I paid the £10k the same week and got a letter from the court and from PayPlan confirming the IVA had been satisified. And no further payments were due.

So now my wife and I have done a PPI refund claim and the is a few grand coming our way, but first plus are saying they have to send 50% to payplan as my IVA has not get complete. I'm still waiting for the completion cert.


My questions are these,

If I refuse to pay any further payments to Payplan, can I be made bankrupt. Even though I have a full and final settlement.

Is there any other action they (payplan) could take

And before anyone says I should pay my creditors, that's what I did the F&F and paid 4K more that if I have just finished it as
per normal.

Thanks for your advice

Anondebtadvisor

If you have not received your completion certificate you may find that Payplan can take 50% of your reclaimed PPI.

If you refuse to pay it over you may find you are in breach of your IVA windfall clause and they refuse to complete your IVA - im am sure you can come to some agreement with them

bscdjc1

Thanks but what I really need to know is can they make me bankrupt

Anondebtadvisor

They do have the right to make you bankrupt but that is not in anyones interest!

I am sure they and you would rather avoid this and between you can work something out?

Has your IP said they want 50%?

bscdjc1

The IP has not said anything yet, but my case adviser has said that I will have to pay 50% so I am asuming that's the case.

Anondebtadvisor

All you can do is negotiate with them 50% is better than nothing in a bankruptcy?

bscdjc1

I guess but just seems quite unfair when I did a full and final and they tell me in writing no further payments are due to then say well that was all a lie and we now want more money from you. How would I start a IVA mis selling complaint.

Anondebtadvisor

On what grounds have you been mis sold?

Make a complaint to your IP in writing and if you are not satisfied complain to their regulating body which you will find on the bottom of any correspondance you have received

bscdjc1

Ok so one last question, once I get my completion certificate. can they come after me after that for more money, I did think once the F&F was done that was it.

Anondebtadvisor

It depends... some IPs argue that although you have complete and have your Completion certificate a "Trust" still exists and the money can be claimed.

However there has been cases recently where the case has been referred to the FOS and they have said that the creditor or the IP has a right to claim the money and refunded the debtor

bscdjc1

So then based on your last post I was sold an IVA that would last for 5 years and then I would be debt free. But that would seem not to be the case, therefor mis sold ?