Recieving PPI after an IVA Closure

stews123

Hi all Newbie here. Long time watcher first time poster.
Will try to keep this simple.
My IVA completed in 2017.
I submitted a claim fo PPI earlier this year and it was found I was owed just shy of £1,000. Months have passed so I contacted the bank(RBS) and was put through to their insolvency team. They stated as there was an outstanding balance I would not receive the PPI compensation, it would be used to off set the outstanding balance. On my final creditor report and completion certificate it stated that 100 pence in the pound had been issued. It also showed an "excluded" creditor which is the bank in question. It stated they returned payments and had been excluded from the final distributions as they failed to provide a revised claim in the arrangement.
As far as I'm aware from going through the final process of completion process I had paid back 100 pence in the pound. I also received a refund from the IVA company as I had overpaid massively.
How can there still be an outstanding amount and are RBS legally allowed to hold back the PPI monies?
Any help would be great, this goes straight over my head!

PrettyKittyKat

I would speak to your IVA company and ask them. I would be tempted to complain to RBS on the basis that they were part of the IVA and there is only an outstanding balance as they did not make a claim.

Although, I suppose looking at it if they had you wouldn't have received the refund from your IVA company that you did - so in effect you just had the PPI money back earlier.