Windfall after the IVA was settled

kevin_pidd
kevin_pidd Forumite Posts: 2
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 I settled an IVA with 2015. I have now had a windfall  for mis-sold pension advice that they are pursuing. It clearly states on the IVA paperwork that they can pursue me basically until the end of time for mis-sold PPI not for general compensation awarded . has anyone else had this and can anyone help?

Comments

  • sourcrates
    sourcrates Forumite, Ambassador Posts: 27,690
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    How did your IVA company know after 5 years ?
    The windfall clause ends with the IVA, only PPI can be reclaimed (Green v Wright) and only to the point your IP tells you in writing that they have no further interest in your case.
    I would certainly complain and point that out to them.
    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 [email protected]. 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-letter
  • kevin_pidd
    kevin_pidd Forumite Posts: 2
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    The people who arrange my compensation claim asked if i had been involved in an IVA in the last 5 years so i gave them the details that's how the IVA company found out . 
    Sound like you have had dealings with this problem in the past. Could you point me in the direction of someone that could help.
  • sourcrates
    sourcrates Forumite, Ambassador Posts: 27,690
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    edited 2 August 2020 at 5:03PM
    Well we see a lot of cases on here with regard to PPI, and due to the Green v Wright court case, most PPI payments end up with the IP.
    But, what you are talking about is the windfall clause, basically, and this is across the board with most IVA arrangments, once you have your completion certificate, then your liability ends, and you are no longer restricted by the windfall clause.
    However, there is an amendment to the rules which state -

    "There are a few windfalls that still have to be paid into your IVA after you have a completion certificate. Examples include compensation paid for wrongdoing which happened before or during your IVA".

    It may be this clause they are basing there decision on.
    I would still speak to your old IP about this, you may be able to come to some arrangement with them.
    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 [email protected]. 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-letter
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