ppi after iva

asjt

i could really do with some advice please
our iva finished at the begining of august this year and we have paid 100 percent plus iva fees and have the completion letters the bank rings to say we have a ppi owed to us but cant pay it to us as there records show we are still in a iva they say they needed they iva company to ring them to say it was over so i rang the iva company and they say we are nothing to do with them anymore since the ivas over, so i ring the bank to tell them that and they say they cant give us the money till they get that call and in a week the payment will go into the iva am going round in circles any advice appricated

DorisTrousers

Hi,

The bank is right, and the IVA company is wrong. The sutuation you have outlined means the PPI belongs to you, but it seems the IVA firm is nit that fussed as they will not get their cut. This is plain wrong.

Don't get me wrong, I am a big fan of IVA's, especially when compared to long term silly DMP's, but it is exactly this sort of thing, amongst others, that gets IVA firms a bad press on here and elsewhere.

Go back to your IVA firm, remind them, forcefully if necessary, that you paid 100p in the £, plus their fees, and tell them that if they do not do what you require that you will complain via the Insolvency Service gateway and possibly the Financial Ombudsman.

You paid for a service, which you got, but a blinking phone call or official letter isn't too much to expect.

Let me know if that doesn't work and I may be able to help further on a private basis.

asjt

thank you very much for replying i have resent them another email ill keep you posted

sarah222

If the PPI was part of your IVA at any time the bank cant pay it out to you. We are in same boat and been fighting for ages. Our completion was November 2013 and completion certificate dated May 2013. Lloyds just paid out £1800 to IVA. As originally PPI formed part of the IVA consideration even after completion the money must go to the fund. It clearly stated in our IVA all PPI would go to the fund and at any time during or after completion should we hinder any claims or try and withhold claims our completion could be revoked. I would re-read you IVA and check the exact wording. It is very frustrating as we feel we are still being held over a barrel.

foxy-stoat

sarah222 wrote: »

It is very frustrating as we feel we are still being held over a barrel.

Well done for finishing the IVA, assuming all the weight of debt has been lifted and you can get on with things.

DorisTrousers

sarah222 wrote: »

If the PPI was part of your IVA at any time the bank cant pay it out to you. We are in same boat and been fighting for ages. Our completion was November 2013 and completion certificate dated May 2013. Lloyds just paid out £1800 to IVA. As originally PPI formed part of the IVA consideration even after completion the money must go to the fund. It clearly stated in our IVA all PPI would go to the fund and at any time during or after completion should we hinder any claims or try and withhold claims our completion could be revoked. I would re-read you IVA and check the exact wording. It is very frustrating as we feel we are still being held over a barrel.

If you have paid 100% back plus fees yourself, then the money should be yours. If you have had debt forgiveness then the money belongs to the IVA.

asjt

we paid 100 percent plus the iva fees we had a ppi claim which was paid into the iva too duing the iva term then once the iva was over the bank rang to say they where re going over everones case and found we still had money due to us i have rang payplan and they have confermed that the iva is over thats why they wont ring the bank or send them out any more letters because she said we are nothing to do with them anymore

asjt

i ring the bank to tell them that the iva company wont ring on our behalf they say that theve sent mail to them but the iva company told me they have recieved nothing the cheque will be sent to them the begining of november what if they dont get that since there recieving no mail