Iva help

lowie1978

I'm looking through my late father's IVA .

Completed in 2016 and my father sadly passed away in 2017.. 

Still in 2021 they took a ppi that come to light 

I have a few questions they might be a bit random so I apoligise in advance. 

1. How long does an IVA stay in trust.

2. Should annual statements of any monies still going into the iva and then distributed to creditors be given ? 

3  can the IVA company that is managing the IVA buy several of your debts in the IVA and own them. 

Thanks in advance 

sourcrates

The IVA protocol states -

“Should you die during the term of the arrangement property constituting an asset of the arrangement in your or the Supervisor’s possession, custody or control shall be held upon trust for the purposes of the arrangement until it is realised.”


This would apply to PPI as well.

If you need to establish exactly how this would work in relation to your assets and your specific situation then you should be able to ask the IP to explain in detail.

IVA companies are not in the business of buying or selling debts.

lowie1978

Iva was completed in 2016 , completion cert issued . Un fortunately my father passed away in 2017 .. in 2021 a ppi claim can to light but the iva company took it. 

My question is how long is the iva In trust for. 

On his iva completion statement grant thornton now own half of the debts.

Grant thornton was who originally managed the IVA who then changed to Aperture . In 2021 grant thornton are still listed numerous times as a creditor . 

sourcrates

lowie1978 said:

Iva was completed in 2016 , completion cert issued . Un fortunately my father passed away in 2017 .. in 2021 a ppi claim can to light but the iva company took it. 

My question is how long is the iva In trust for. 

On his iva completion statement grant thornton now own half of the debts.

Grant thornton was who originally managed the IVA who then changed to Aperture . In 2021 grant thornton are still listed numerous times as a creditor . 

Until it is realised is the answer to that one, its at the companies discretion.

I received my certificate of completion in 2013, yet my case was not closed for another 5 years pending PPI enquiries, of which they didn`t find any.

As your father sadly died, then obviously that is the end of the matter, unless there are other assets to be recovered, unfortunately I am not a legal expert in these matters.

Interesting about GT, I know they have a very diverse portfolio, I wasn`t aware they bought debts, there could have been a conflict of interest here, which is possibly why they sold out to Aperture.

Sorry I can`t be more helpful.