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Ppi

4 replies 62 views
theidletheidle Forumite
1 posts
MoneySaving Newbie
My iva has been terminated since then I am entitled to a ppi refund what will happen to it 

Replies

  • foxy-stoatfoxy-stoat Forumite
    6.2K posts
    1,000 Posts Fourth Anniversary Name Dropper
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    theidle said:
    My iva has been terminated since then I am entitled to a ppi refund what will happen to it 
    You have missed the boat on PPI now, deadline was August last year.  If you tried to claim it would be rejected or paid to your IP.
  • thevdmthevdm Forumite
    136 posts
    100 Posts First Anniversary
    I have no idea about the PPI deadline, but as you've terminated your IVA you are no longer bound by the rules of it and as such if you had a pay out it would be up to you to decide what to do with it.
    I may be wrong sometimes, I learn a little every time I'm corrected.
  • mwarbymwarby Forumite
    1.6K posts
    Tenth Anniversary 1,000 Posts Name Dropper
    ✭✭✭
    This could perhaps depend on what has been signed, and who is controlling the PPI reclaim. If the IP is handling the PPI claim getting the money is likely to be rather more difficult than if the OP is handling the claim
  • Cvarley78Cvarley78 Forumite
    3 posts
    First Post
    MoneySaving Newbie
    Any successful PPI claim you have will almost certainly be paid to your Insolvency Practitioner even though your IVA has been terminated. They will then make a distribution to the creditors that were included in the IVA (if there are any surplus funds after drawing any fees they are due).
    PPI would also be paid to an IP if the IVA successfully completed (in most scenarios) unless creditors had been paid in full during the IVA.
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