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IVA and successful PPI claim from creditor
Hi - not been on here for a while!
I've been in an IVA for 2 years and just about managing to keep up payments. About a month ago I became aware that it's possible to reclaim missold overdraft insurance and put in a claim.
Today I was staggered to get a letter saying my claim was upheld and I am due repayment of almost £9,500 (getting on for half of my outstanding debt).
I know this goes to my creditors and I have no real problem with this, although it's quite distressing to know that claiming this 3 years ago would probably have prevented the situation that necessitated the IVA. C'est la vie, I guess.
However, the bank that upheld my claim is one of my creditors, so knew about the financial difficulties all through the situation and preliminary discussions about the IVA.
Financial institutions are supposed to try to help debtors, and I'm wondering whether that help should include things like looking at the details of accounts e.g. PPI?
I'm not one for claiming compensation for the sake of it, but it seems odd to me that this situation occurred when the default to this company (and the others) could actually have been prevented by them.
What do people think? Is this just sour grapes, or am I perhaps entitled to actual compensation as well as a refund? I know it will all go to creditors, but it's the principle!
I've been in an IVA for 2 years and just about managing to keep up payments. About a month ago I became aware that it's possible to reclaim missold overdraft insurance and put in a claim.
Today I was staggered to get a letter saying my claim was upheld and I am due repayment of almost £9,500 (getting on for half of my outstanding debt).
I know this goes to my creditors and I have no real problem with this, although it's quite distressing to know that claiming this 3 years ago would probably have prevented the situation that necessitated the IVA. C'est la vie, I guess.
However, the bank that upheld my claim is one of my creditors, so knew about the financial difficulties all through the situation and preliminary discussions about the IVA.
Financial institutions are supposed to try to help debtors, and I'm wondering whether that help should include things like looking at the details of accounts e.g. PPI?
I'm not one for claiming compensation for the sake of it, but it seems odd to me that this situation occurred when the default to this company (and the others) could actually have been prevented by them.
What do people think? Is this just sour grapes, or am I perhaps entitled to actual compensation as well as a refund? I know it will all go to creditors, but it's the principle!
Though no-one can go back and make a brand-new start, anyone can start from now and make a brand-new ending.
(Laurie Taylor, THE no. 1864)
(Laurie Taylor, THE no. 1864)
0
Comments
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The refund plus interest IS the compensation, you will never receive more..0
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Thanks - I guess I meant for not telling me about the possibility when I asked for help, rather than for the insurance itself.
There's probably nothing in it, but it rankles a bit that the whole IVA might have been avoided if I'd just known about this at the time ...Though no-one can go back and make a brand-new start, anyone can start from now and make a brand-new ending.
(Laurie Taylor, THE no. 1864)0
This discussion has been closed.
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