📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

IVA closure advise please

Hi

I have completed my IVA payments almost 12 months ago with Grant Thornton, who took over my case from Blair Endersby. I have yet to receive my certificate of discharge, something I knew nothing about as I thought once the payments were finished so was the IVA.

I applied to claim back my PPI charges and have just found out that they have been paid to Grant Thornton as I was still under them!!

Is this allowed? I have lost a couple of thousand pounds here and am unsure if this is legal?

I was told by Grant Thornton that the discharge certifiate should normally take anything up to 6 months to be released. With this being a lot longer I was wondering if I was entitled to ask for the money paid by the PPI to be returned to myself?

I hope somebody can help me please, as I am at a loss :(

Comments

  • Until you receive you certificate of completion any PPI or windfall you receive is paid into the IVA for the benefit of the creditors.

    I am sorry you feel you have lost this money but it is perfectly legal
  • i have completed my iva payment i have jet to recive my certificate of discharge somehow i new nothing about it it was finish in march with grant thornton who took over my case from blair endersby hope to hear from u thanks x
  • Foxy-Stoat_3
    Foxy-Stoat_3 Posts: 2,980 Forumite
    Assuming you only paid back 20-25% into your IVA, any rebate for PPI would go into the IVA "pot" as this was an asset of the IVA, ie total debt.

    I don't think you have lost out at all!
    "Dream World" by The B Sharps....describes a lot of the posts in the Loans and Mortgage sections !!!
  • Gimpsdad
    Gimpsdad Posts: 315 Forumite
    One slight point I would make. If the IVA has been completed, all payments made etc, and the only thing stopping a completion certificate is any realisation of a PPI asset, then any other windfall received after the last payment has been made isn't covered, and cannot be claimed by the IP.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 355.9K Banking & Borrowing
  • 254.9K Reduce Debt & Boost Income
  • 456.2K Spending & Discounts
  • 248.4K Work, Benefits & Business
  • 606.1K Mortgages, Homes & Bills
  • 179K Life & Family
  • 263.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.