IVA finished but PPI issue?

benesozuk

Hi all

Just seeking other views on my recent IVA situation,

I completed my IVA last payment in January 2011 and was expecting my closure letter soon after……. 6 months past and I still had no letter but was assured all was ok and It was being dealt with.

After chasing this on numerous occasions the letter never surfaced and my IP said it was due to PPI claims, at the beginning of this year I was asked to sign some paperwork regarding PPI claims and failure to do so would result in bankruptcy!

Obviously I signed and asked the same question “where is my closure letter”

Finally I received my letter 2 month ago J

All was good until I received letters for a company actingon behalf of my IP who advised that PPI claims were still going ahead and any payment that I received would need to be forwarded to them.

Bit worried by the letters I spoke to my IP who said thiswas correct and I needed to co-operate,

A couple of things worrying me though

The wording on the letter was a little confusing as is clearly states I am within an IVA which I am not surely?

Why is another party being used to reclaim this money?

Does this all seem like normal practice after an IVA?

Also after reading a few bits online I feel my IP dragged its heels a bit so they could latch on to this PPI madness,
Am I right in thinking a new regulation was brought in forPPI claims within an IVA?

I have now received a payment of £1500 with a letter stating if you are within an IVA this will be forwarded to your IP…..The Cheque was enclosed!
Confused by the whole thing I have spoken to citizens advice who said PPI after IVA is a grey area and I would need to speak to my IP,
so I shall be sending the payment to them shortly to co-operate.

All a little confusing and worrying

Foxy-Stoat_3

No need to worry, the IP will want all the PPI refunds or they won't issue a completion certificate.

The only gutting thing is paying in large cheques and paying them straight out again, but on the plus side your debt is done and IVA over and whatever your total debt was, you probably had 60-75% of it written off?

benesozuk

Thank you so much for the Reply,
I have recieved my completion Certificate a few months back, and my credit report is finally getting back on track

techno1029

You should check your paperwork as you maybe entitled to the 8% interest element of the PPI award. I know i was and recieved a nice little amount back which paid for me and my family to have a much needed holiday...( The first in 7 years)

tamiami

techno1029 - can I just ask if you received 8% of the total amount claimed in PPI?

22cuddles

Sorry to hijack the thread slightly but I have a question re: the 8% of PPI that people seem to be talking about. I'm in an IVA with DFD (due to finish next April). The PPI has been dealt with by Equity In Finance. I can't find any mention of PPI in my IVA agreement so who should I contact to see if I can claim back the 8%. I'm not really sure what I should be asking for and whether I should contact DFD or EIF. Any help would be appreciated.

Bluemonday_2

I completed my IVA in 2009 on the bases of creditors accepting a lump sum as a 'full and final settlement'. Recently I claimed for mis sold PPI on a credit card covered within this and was offered £2800 by RBS as a 'good will gesture'. I accepted this. Yes I have the completion certificate which I have forwarded to them.

RBS however have in formed me that they have paid this directly into my account against the outstanding debt! I am far from happy as I consider I no longer have a debt or account.

What should I do next? Can I obtain help from the FSO?

Foxy-Stoat_3

Bluemonday wrote: »

I completed my IVA in 2009 on the bases of creditors accepting a lump sum as a 'full and final settlement'. Recently I claimed for mis sold PPI on a credit card covered within this and was offered £2800 by RBS as a 'good will gesture'. I accepted this. Yes I have the completion certificate which I have forwarded to them.

RBS however have in formed me that they have paid this directly into my account against the outstanding debt! I am far from happy as I consider I no longer have a debt or account.

What should I do next? Can I obtain help from the FSO?

PPI refunds can still be considered an asset of the IVA, unless someone has their day in court this will continue to be the case....but it does vary from IP to IP and creditor to creditor.

gidds58

My IVA "finished" Feb 2013 but about a year before that PPI reclaims were made part of my estate.
So 18mths ago a consultant turned up and we spent many hours signing authorisation mandates.
In Oct last year I was told that I was still on the insolvency register and almost lost my new job for not disclosing it. I assumed I would have been removed as I had a nice letter stating the successful conclusion to my IVA and apart from the PPI process that was on-going, there would be no further claims on my estate.
Yesterday I received another pile of mandates to be completed and signed to allow this company to request ALL of my financial data from virtually all major institutions along with a cover letter saying if I do not comply I will be in breach of the IVA I am in and they were now going to begin the PPI process- this almost a year after my payments ceased.
They also want me to disclose information from my personal active account that will show information up to today. But the court said 60 months.


How long can this be dragged on for? All the time I'm on the Insolvency register its virtually impossible to move on and try to rebuild a credit rating.

Foxy-Stoat_3

gidds58 wrote: »

My IVA "finished" Feb 2013 but about a year before that PPI reclaims were made part of my estate.
So 18mths ago a consultant turned up and we spent many hours signing authorisation mandates.
In Oct last year I was told that I was still on the insolvency register and almost lost my new job for not disclosing it. I assumed I would have been removed as I had a nice letter stating the successful conclusion to my IVA and apart from the PPI process that was on-going, there would be no further claims on my estate.
Yesterday I received another pile of mandates to be completed and signed to allow this company to request ALL of my financial data from virtually all major institutions along with a cover letter saying if I do not comply I will be in breach of the IVA I am in and they were now going to begin the PPI process- this almost a year after my payments ceased.
They also want me to disclose information from my personal active account that will show information up to today. But the court said 60 months.


How long can this be dragged on for? All the time I'm on the Insolvency register its virtually impossible to move on and try to rebuild a credit rating.

Best you start your own thread about this...

Gman34

HI there i am due to pay my lasy iva payment in april...

what happens after that??

can i then claim my PPI?

any help would be great