Iva finished

doggy0508

Hi everyone,  I have finished my IVA 3 years ago. I had my own business and was not in arrears when I approached my lloyds bank to advise of upcoming issues which were going to impact on our ability to pay loans and credit cards, I was advised by my bank to contact PayPal. They advised us to stop payments for 3 months to allow debts to occur and the IVA process to start. while we were 3yrs in we received a ppi refund which was paid to the iva but this was a second calculation of a ppi which had been paid before the IVA and started. This was accompanied with a letter apologising for the miscalculation and most of the monies went back to TSB under the IVA. I was told by Citizens Advise we had a case for compensation but to wait till the IVA had finished and Final letters received before proceeding. We lost our business and had to downsize our rented home while under the IVA but finished the IVA. Will any compensation if any we now receive have to be paid back to the IVA as a windfall.
Thanks in advance

foxy-stoat

You are a few months late for PPI refunds now - and any money you claim will go to the IP - unless you managed to pay back 100p to the £1.00 of debt plus IP fees.

sourcrates

PPI deadline been and gone, so the ship has sailed on that one, it would have gone to your IP anyway (recent appeal court decision) .

doggy0508

I am not trying to claim ppi this has gone to the iva I wanted to know if we had a claim for compensation as the ppi was not worked out correctly the first time. This led to us going into an IVA. All we received was an apology from the bank for not working it out correctly on the original claim. We would of not gone into the IVA if they had paid us correctly  nearly £14,000. 

foxy-stoat

Look at it this way, how much do you owe and how much did you actually pay at the end.

You should find that you are still winning - if not then you weren't in enough debt to go into an IVA.