MBNA,IVA,Complaint Not upheld,advice needed!

Cvsc

Just a brief background,I submitted a PPi complaint against MBNA due to it being a pre approved,pre selected ppi application form last May and after many phone calls and excuses they have finally sent me there "Final Response"
I am fully aware that any redress that may have been due would have gone to the paying off of the account pre IVA. The IVA however ended 6 years ago.Before there final response MBNA requested a copy of the T & C's of the IVA agreement and this was to be sent to a company called BancTec Ltd,Harlow who i believe were dealing with PPI complaints involving IVA agreements.
In there final response Mbna have stated that
"Having completed a review of the information provided including the terms of the IVA,we can now inform you that you are not eligible to make a complaint.
This is because in the IVA you pledged the right to make a complaint to the IVA supervisor and that right continued even though the IVA has ended"
I dont recall making any such pledge. Just what does this mean as this has me stumped?
Thanks in advance for any advice or help.

savingjenny

Your IVA will probably include a clause saying something like all assets your own are pledged into the IVA. And the right to reclaim PPI is treated as an asset.

Cvsc

savingjenny wrote: »

Your IVA will probably include a clause saying something like all assets your own are pledged into the IVA. And the right to reclaim PPI is treated as an asset.

Not come across anything of the sort and have had no problems with other claims,of which have been upheld and redress accordingly.

dunstonh

Did the other companies know about your IVA? If they didnt they would just pay out.

antrobus

Cvsc wrote: »

...This is because in the IVA you pledged the right to make a complaint to the IVA supervisor and that right continued even though the IVA has ended"

I dont recall making any such pledge. Just what does this mean as this has me stumped?....

It means what it says it means; you signed over your 'PPI rights' to the IVA supervisor. I appreciate that you might not remember that there was a clause to that effect in your IVA agreement, but MBNA have read it and they say there is.

I'm not sure anybody else would be in a position to contradict them without actually having the chance of reading what the agreement says.

Cvsc

dunstonh wrote: »

Did the other companies know about your IVA? If they didnt they would just pay out.

Yep, they were aware and fully informed,hence redressed accordingly as previously stated.

Cvsc

antrobus wrote: »

It means what it says it means; you signed over your 'PPI rights' to the IVA supervisor. I appreciate that you might not remember that there was a clause to that effect in your IVA agreement, but MBNA have read it and they say there is.

I'm not sure anybody else would be in a position to contradict them without actually having the chance of reading what the agreement says.

Thanks, I was not looking for a contradiction just a view of peoples opinion and to see if this has happened to anyone else.Also it may give others who have been in a similar position a heads up to what may happen if they were to follow up with a complaint.I have read through the 30 page T's & C's several times but cant find any reference to this of the sort.Thanks anyway.

antrobus

Cvsc wrote: »

...I have read through the 30 page T's & C's several times but cant find any reference to this of the sort.Thanks anyway.

MBNA's statement that "in the IVA you pledged the right to make a complaint to the IVA supervisor" would be an interpretation of the legal effect of your IVA agreement, rather than a quote from the actual agreement, which might not even mention the magic three words 'payment protection insurance'.

Apparently:-

In broad terms there are two main types of IVA proposal

1 “All asset” IVAs which state that all the debtor’s assets are subject to the IVA terms except those specifically excluded in accordance with rule 5.3(2)(a)(iii) Insolvency Rules 1986. An IVA governed by R3 Standard Conditions, or Protocol Standard Conditions with an “all assets clause”, are examples of such cases. Where such terms apply a mis-selling claim is an asset of the IVA estate.

It may well be that you signed an IVA with such an 'all assets clause' and this is what MBNA are referring to.

Guidance Note On Payment Protection Insurance Mis-Selling Claims
https://www.icaew.com/~/media/Files/Technical/Insolvency/helpsheets-and-checklists/personal-insolvency/guidance-note-on-payment-protection-insurance-claims.pdf