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IVA & PPI claim - dont bother.

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  • Gimpsdad
    Gimpsdad Posts: 315 Forumite
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    Been away for a couple of days so apologies for the tardiness of my reply.

    Let's see. Can't remember ever seeing a post from you advising to consult an IP as first point of call. Seen hundreds pointing people to independent, impartial organisations though. Not that they are, as we have alluded to previously, but rest assured that if you speak to someone that relies on creditor contributions for their income then it is 5 times as likely that a DMP will be the end result rather than an IVA. Please feel free to answer why that would be so and then we CAN have a proper debate.

    Second point, got me there, it wasn't you, apologies if you really wish it. Apologising for being right about the 15%, but there you go.

    Point 3. Read this board, and others, and see what people do when they think they can get away with it. Depressing how many posters encourage others to claim outside of their IVA, usually afterwards, in the hope that there is a few quid in it for them. I stand by everything I said as regards to debtors reclaiming their own PPI. I am sure that the vast majority of debtors would be happy to pursue claims through the FOS, for example, in order to get nothing back. I suggest, respectfully, that you take those glasses off and join the rset of us in the real world.
  • Gimpsdad
    Gimpsdad Posts: 315 Forumite
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    Missed the bit about the other thread. No, neither of us posted on it, it was merely an invitation to you to post about bad debt advice.

    I am sorry that you did not do so.
  • GD2_2
    GD2_2 Posts: 53 Forumite
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    Amazing debate that seems to have gone quiet. Any more views?
  • Depth_Charge
    Depth_Charge Posts: 970 Forumite
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    edited 6 November 2012 at 1:06AM
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    GD2 wrote: »
    Amazing debate that seems to have gone quiet. Any more views?

    Hi

    Yes, it has been a good one, with the issue well covered too date.

    I think I will leave it for now with these comments

    The way I understand it is that IVA companies are supposed to work in the interests of both the debtor and creditors including maximising the returns into the IVA (this is what I keep reading regarding PPI claims, thats why they have a duty to pursue them we keep hearing, fair enough you could say)

    Then we see some of the percentages taken out by the PPI claims companies (also the 15% business) and the reasons given by some as to why people in IVAs might not bother claiming themselves and having to use volume handling companies etc.

    An IVA is a formal insolvency solution administered by professionals.

    People can read through this thread and others on here and other forums for that matter on the subject of IVAs & PPI and make up their own minds.

    Me, well, all I will say is that I have mixed views and will watch the space as it could all turn out to be quite interesting.

    Thats my take GD2 :)
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