Ppi - iva - 8% - creditor

debtfree2016

Hello all, I'm currently chasing 2 parties my IVA company and the morons they chose to pursue PPI Claims. My question is as follows, one of my creditors issued a PPI refund after being chased by the morons the creditor then decided not to refund the £ and would apply it to the original debt. I'm not bothered by this as such because it means the morons don't get 40% of the claim just a little miffed regarding the 8% interest which would also have been taxed. If the 8% were to be sent to me then fantastic if not then why not pass it over to my other creditors that I owe. Hope this makes sense if not please feel free to ask questions. They are my debts and I'm trying to pay off as much as possible.

[Deleted User]

I'm afraid the 'morons" may well still require their 40% commission regardless of the redress being offset.

Giggles_Fairy

As moneyineptitude said... it is likely you will still owe the company the 40% debt. if the company was instructed by your IVA company then there may be an agreement between them where this would not happen, best to check with them.

debtfree2016

Have checked with my IVA company and now received the full breakdown. The full amount was offset against the original debt.