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Reclaiming PPI and IVA
CroneySJ
Posts: 1 Newbie
HI all, I need some serious advice please as I have a very complicated situation.
In 2002, having found myself unemployed and in a dire debt situation, I suspended and returned my cards and placed my credit accounts in the hands of a debt management company.
I was able to maintain payments through my monthly plan until January 2004, but my work and financial situation didn't improve and I was left with no option but to stop my monthly payments until I was back on my feet and in 2005 I entered into an IVA which I completed with an 83% success rate.
However, as I think back to my credit accounts I am suspicious that there were PPI charges and I would be grateful for any feedback on the following questions if PPI was applied to these accounts.
1. Why wasn't I advised that I could cover my interest/monthly payments when I informed them I was unemployed?
2. Did they continue to charge PPI AFTER I suspended the accounts and was no longer using the credit facility?
3. If the cumulative interest applied to the debt balance included the PPI payment, then was my IVA correctly calculated?
I am in the process of directly requesting my last statements and accounts details from my creditors, but I would greatly appreciate any advice, tips or feedback from anyone who has had a similar experience.
Cheers, SJ :wall: :think:
In 2002, having found myself unemployed and in a dire debt situation, I suspended and returned my cards and placed my credit accounts in the hands of a debt management company.
I was able to maintain payments through my monthly plan until January 2004, but my work and financial situation didn't improve and I was left with no option but to stop my monthly payments until I was back on my feet and in 2005 I entered into an IVA which I completed with an 83% success rate.
However, as I think back to my credit accounts I am suspicious that there were PPI charges and I would be grateful for any feedback on the following questions if PPI was applied to these accounts.
1. Why wasn't I advised that I could cover my interest/monthly payments when I informed them I was unemployed?
2. Did they continue to charge PPI AFTER I suspended the accounts and was no longer using the credit facility?
3. If the cumulative interest applied to the debt balance included the PPI payment, then was my IVA correctly calculated?
I am in the process of directly requesting my last statements and accounts details from my creditors, but I would greatly appreciate any advice, tips or feedback from anyone who has had a similar experience.
Cheers, SJ :wall: :think:
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