complaints against an IVA company

dll26dms

I went into an IVA arrangement in 2017 with 21k credit card and overdraft debts, having exhausted all other options. The debt management company insisted I use a PPI claims company and even though I had previously claimed myself and failed to win, they went ahead. They won approx 16.5k on my behalf (almost as much as my total debt). I have had a couple of annual reviews and had to increase my payments to them. I asked them what had happened to the PPI money, and they said 10k was paid as commissions to the claims company, 2.5k to pay IVA fees and only 3.8k was paid to my creditors! This is daylight robbery! Would I be able to complain about the level of commission and fees? In my mind this is more of a scam than ppi! Earlier this year my son offered to pay £1000 to pay off the arrangement, but they refused to even consider this, even though in monetary terms I have paid in as much as I owed! Any guidance would be appreciated.

foxy-stoat

I am afraid not.  The PPI refund would not be yours but an asset of the IVA.