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Should I pay?
tinamarie1974
Posts: 2 Newbie
I recently was contacted by a company called conclusive finance about ppi. They looked into this for me and apparently I was owed some money. However they said they paid this money to creditors? (I had an iva but that was finished over a year ago so don't have any creditors) and now I owe them their cut. I have received no money whatsoever from them. They are now threatening legal action if I don't pay them, what should I do?
0
Comments
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If you signed a contract with them, you'll need to pay.
The fact that your redress appears to have been applied by the lender to your outstanding debts with them isn't their concern.1 -
The point is that I don't have any outstanding debts so any money should have been paid to me not the lender. The iva was satisfied in 2017.0
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Well no, the more pressing point is that you have a CMC chasing you for money. I’d pull focus on that for the minute as they’re very litigious. Did you sign anything for them to act on your behalf?helpful tips
it's spelt d-e-f-i-n-i-t-e-l-y
there - 'in or at that place'
their - 'owned by them'
they're - 'they are'
it's bought not brought (i just bought my chicken a suit from that new shop for £6.34)0 -
But was it satisfied in full - ie to the terms of the original agreement, not the terms of the IVA?tinamarie1974 said:The point is that I don't have any outstanding debts so any money should have been paid to me not the lender. The iva was satisfied in 2017.
That's the real point.0 -
The IVA might have been satisfied but it was unlikely you paid back everything you owed. This debt still remained even though it was written off [ IVA have very large fees which you probably haven't factored into what you paid back which probably makes you think you paid it all], so while the companies wouldn't have chased you for it they did use their right to set off your PPI redress against this debt. Thus, unless you made it completely clear to the CMC that you had been in a n IVA, you owe them, Pay up, they will chase you for it and take you to court if you don't pay.
Non me fac calcitrare tuum culi1 -
Just a thought: are you sure that the company who contacted you about the PPI and the debt company are not related somehow?
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Conclusive Finance [!] are a claims company, not a debt company.
Non me fac calcitrare tuum culi0 -
PPI payments after an IVA are subject to appeal court ruling (Green v Wright) nothing to do with anything else.
Explained here -
https://debtcamel.co.uk/ppi-iva-green-wright/
What the CMC have done is correct, and you now owe them their fee.
Where you not aware you could do this yourself for the price of a stamp ?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
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