PPI claims in IVAs....... interesting comments- what do you think??

Anondebtadvisor

http://www.credittoday.co.uk/article/14934/online-news/cleardebt-to-delist-as-abacus-makes-loss

David Mond, chief executive officer of ClearDebt, said it had been a disappointing and difficult half-year borne out by a continuation of the general trend of falling personal insolvency numbers in the UK over recent quarters.

He said: “We have felt the effect of this with poor volumes of new IVAs passed in the period although we have increased the numbers of clients under debt management.

“We are, however, expecting increased fee income derived from mis-sold payment protection insurance claims as claims for our clients in an IVA are submitted and proceeds are received into the IVAs.”

rizla_king

What do you think?

Grubby little industry that will latch on to any sort of income to line their pockets.

You did ask.

Anondebtadvisor

I am not against PPI being reclaimed in IVAs but to do so to increase IP fees is not an acceptable practice!

It is comments and practices such as this that gives the industry a bad name!