PPI reclaim after IVA discharged

RFITZ

Hi,

I have been discharged from my IVA for almost a year now and have made a PPI claim against one of the companies that was included in my IVA.
They have agreed that I was mis-sold and have offered a figure in settlement but have said that I still have outstanding debt with them and therefore I will receive no payment as it will be written off against what I owe.
Is this right? Officially I have no debt remaining as they accepted my IVA and I have made all the payments in relation to this.
Thanks

Foxy-Stoat_3

PPI payments are an asset of your IVA and will be treated as such even after you have completed the agreement.

Sounds right to me.

UpToMyNeckInIt

Got to agree with Foxy-Stoat: I have read of similar advice elsewhere, BUT some IVA companies apparently let you keep anything after you have received your cert. of completion. (This is one of the legal wrinkles that has yet to be ironed out).

So, run it past your old IP to be sure.

However, even if you are not entitled to it, it should be paid over to your IP for distribution equally between your creditors.

Did you claim direct, or use a claim company? Be wary if you used the latter, they may take the view that they have done their bit, and want paying. You could end up with a bill, if you don't retain enough to pay it.