Claiming PPI after completing an IVA

ChaffinchBiscuit

I have been advised that trying to claim PPI after completing an IVA is next to impossible without the assistance of a specialist claims company. The problem is they charge 30% + VAT on a win. Has anyone successfully claimed PPI after an IVA has been completed by doing this themselves, without the help of a specialist? If so, do you have any advice on how to proceed? Thanks.

-taff

Dont bother. They have no speical powers and are lying.

You can still complain yourself, but IVAs are a grey area, you may receive the money back, you may not, you may receive interest, you may not.

Pretty much anything a company wants to do, it can.

If you are successful and believe you have repaid the original company in full, if they refuse to pay i to you, you can complain and then go to the ombudsman.

Make your complaints and see what happens.

Insider101

ChaffinchBiscuit wrote: »

I have been advised that trying to claim PPI after completing an IVA is next to impossible without the assistance of a specialist claims company. The problem is they charge 30% + VAT on a win. Has anyone successfully claimed PPI after an IVA has been completed by doing this themselves, without the help of a specialist? If so, do you have any advice on how to proceed? Thanks.

Who has told you that? I'm willing to bet it's a CMC. In terms or reliability, this is rather like asking a turkey its opinion on Christmas.

These people are not "specialists" in anything, just muppets who send template complaint letters alleging allsorts.

The complaints process is no different for someone who has completed an IVA to anyone else. The only difference is that the bank may seek to apply "set off" (there are differing legal views over whether they can or can't do this), or your former insolvency practitioner may express an interest in any redress offered to you. Therefore you should speak to them before complaining. However, the process for making and them investigating a complaint is no different regardless of an IVA.

Nasqueron

ChaffinchBiscuit wrote: »

I have been advised that trying to claim PPI after completing an IVA is next to impossible without the assistance of a specialist claims company. The problem is they charge 30% + VAT on a win. Has anyone successfully claimed PPI after an IVA has been completed by doing this themselves, without the help of a specialist? If so, do you have any advice on how to proceed? Thanks.

With an IVA I would seriously recommend you do NOT use a claims firm - here is why:

Imagine you owe £5k from your IVA (all finished, closed off etc)
You complain about PPI and they award you 4k but off-set against the unpaid debts
You receive nothing personally

The claims firm will then bill you for say 30% of the 4k "refund" they won - so not only do you not get the PPI you have to pay the CMC on top of that out of your own pocket and are worse off. A CMC should NEVER taken on someone who has been in an IVA as there is no guarantee a refund will come to the person complaining.

IVA you might get some money back, you might not - don't risk it on a claims firm

ChaffinchBiscuit

Hi everyone. Thank you for all your advice. In answer to Nasqueron, the CMC who we might use has sent their T&C's and it clearly states that "No fees will be charged to you in respect of an unsuccessful claim or where the compensation recovered is used to offset your debt or forwarded to your IP for distribution to your creditors". So on this issue, I think they cannot charge if the claim is paid out but to the creditors.


However, I note the other concerns raised, ones I had myself. The IVA itself was started in 2006 and fully paid off in 2007, with the certificate issued shortly after. The law seems to have changed after 2009 on IVA's and PPI, but at the time of this IVA, the whole PPI debacle was not known. I am hoping this is to my advantage as it is not like the agreed debt was paid and the rest written off, whilst knowing about a potential "windfall" and not telling them. We did not even know!


I take it my best course of action is to speak with the original IP and see what they say before we take this any further?


Thank you.

Nasqueron

ChaffinchBiscuit wrote: »

Hi everyone. Thank you for all your advice. In answer to Nasqueron, the CMC who we might use has sent their T&C's and it clearly states that "No fees will be charged to you in respect of an unsuccessful claim or where the compensation recovered is used to offset your debt or forwarded to your IP for distribution to your creditors". So on this issue, I think they cannot charge if the claim is paid out but to the creditors.


However, I note the other concerns raised, ones I had myself. The IVA itself was started in 2006 and fully paid off in 2007, with the certificate issued shortly after. The law seems to have changed after 2009 on IVA's and PPI, but at the time of this IVA, the whole PPI debacle was not known. I am hoping this is to my advantage as it is not like the agreed debt was paid and the rest written off, whilst knowing about a potential "windfall" and not telling them. We did not even know!


I take it my best course of action is to speak with the original IP and see what they say before we take this any further?


Thank you.

Still wouldn't use the CMC, may be all sorts of clauses they use to make money back - can't imagine they will act for you knowing it's an IVA situation and knowing they may get nothing - they can't charge the bank a fee so either work for free (yeah right!) or bill you!

With IVAs there are a few topics on here where people have had the money offset by the lender against the unpaid debts (IVA means they won't keep chasing you but money is still written off) so it will always be a risk - whatever the situation in 2006/7 banks have processed for IVA and PPI refunds from debts before the IVA started - and if you don't use the CMC you keep all the money if they agree to refund you