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End of IVA & PPI
Hi - wonder if anyone can advise. We are 1 month away from our final payment of our IVA (6 years) which is great. Recently cleaning out our loft we found some old financial papers which all had PPI attached to them. Bearing in mind August is the deadline for PPI could we just go ahead and put claims into these old insurances? Would we have to inform PayPlan?
Grateful for any response.
Grateful for any response.
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Comments
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It's an asset that can be used to help pay off the people you didn't pay back, which is the moral thing to do. IVA is not the same as bankruptcy (where the PPI refund belongs to the OR) but firms will offset any refund against unpaid monies where they can.
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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I would not bother to be honest.
Are you not aware of the Wright v green court case ? (Google is your friend).
It is dependent on the type of arrangement you had, but most fall into this bracket, even after your IVA ends, things such as PPI claims must still be paid to your. IP.
As the deadline is so close, and you would lose the lot anyway, I’d just forget about it.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
I'd complain on the chance that the people you owe money to get something more back?0
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i am surprised that the IP have not already done all the PPI claims since you have been in the IVA anyway.
when our IVA ended in 2015, we signed a waiver that any further PPI will go direct to the IP to sort out amongst debts. only way we could get the completion certificate sooner
you could attempt to claim, but chances of you seeing any of it are slim0 -
Can I just ask what the position is with regard to statutory interest? Am I right in thinking that the debtor should get that back, though not the primary sum? Or did I dream that....LBM July 2006. Debt free 01 Sept 12 .. :T
Finally joined Slimming World: weight loss 33lbs...target achieved 51wks later 06.05.13 & still there :j
Aim to be mortgage free in 2022. Jan 17 33250 Nov 17 27066 Mar 18 24498 Sep 18 20608 Nov 18 19250 Jan 19 17980 Mar 19 16455 May 19 15024 Nov 19 10488 Feb 20 8150 May 20 5783 Aug 20. 3305 Nov 20 859 Mortgage free, 02.12.20200 -
Hi
Yes we had Equity in Finance who sorted out the ones we had anyway. Thanks to all who responded I think I just got a bit carried away because of the struggle of the past 6 years. So happy anyway because only one month to go.0 -
You dreamt it I’m afraid Vicki0
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I was approached by a claim company saying even though I'd had an IVA in the past (completed October 2018) I could still claim PPI and my practitioner wouldn't require it. So I told them to go ahead and pursue a claim. To cut a long story short, Stepchange became involved and so the PPI payment made, some £900 was claimed by them. Even though the PPI referred to a loan I'd had 10 years before I entered into my IVA. Stepchange disingenuously don't broadcast this to their clients, I suppose because if they did no-one would bother claiming it. They just wait for you to claim it off your own bat and then grab it. Not very honest I think.0
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