PPI - Ombudsman & IVA

sunshine111

Hello,

We have a complaint in with the ombudsman for a good few months now and we are in an IVA, they have come back to ask for additional information and also we had to sign the forms again and our IVA company too.

Today we have received another letter from the Ombudsman asking to see a copy of our IVA agreement, does anybody know why they would be asking for sight of this?

Thanks in advance.

[Deleted User]

sunshine111 wrote: »

Today we have received another letter from the Ombudsman asking to see a copy of our IVA agreement, does anybody know why they would be asking for sight of this?

Any redress, should it be awarded, would likely be offset against your defaulted debt. FOS clearly want clarity on this before adjudicating. Do realise that you are likely to be waiting around eighteen months for the Ombudsman.

sunshine111

Thank you, which part of the agreement would confirm that?

Also somebody did mention to me that the 8% interest may be paid to us if the claim is successful but I am not sure how that would work as on the agreement it mentions that any windfall payment above £500 will be transferred to the Supervisor for the benefit of creditors.

[Deleted User]

sunshine111 wrote: »

somebody did mention to me that the 8% interest may be paid to us if the claim is successful

You MAY get some, you may get all, you may get none of the interest. Do remember that you will have to have had FOS overturn your original rejection in order to even achieve offset redress.

Exactly why did the Bank decline your complaint and on what basis are you appealing to the Ombudsman?

-taff

They can keep any of the redress as well as the interest if they want to.
IVAs are a grey area, one firm does one thing, one does another.

sunshine111

We had always assumed that the deduction on our credit card statement that had a description 'card protection' was the sentinel cover that we had taken out with them as we had stated right from the outset that payment protection was not required.

We only contacted them as we were told by our IVA practitioner that we had to contact all creditors re miss-sold ppi and we went back to them to say no point we know we never had ppi as we were always insitent that we did not want ppi with the creditor but the IVA wanted evidence from the creditors of this and that's where it became apparent that the ppi was added even though we had said no.

The bank declined our complaint as they said they would have sent out terms and conditions re PPI with the credit card which I really can't remember receiving and it was up to us to read that, after saying no at the initial sale the ppi should not have been added.

[Deleted User]

sunshine111 wrote: »

The bank declined our complaint as they said they would have sent out terms and conditions re PPI with the credit card which I really can't remember receiving and it was up to us to read that, after saying no at the initial sale the ppi should not have been added.

Without any evidence to support your "hearsay" complaint, I wouldn't be counting any chickens...