PPI After IVA - HFC Reclaim Success Sort of? Please Help!

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  • debtinfo
    debtinfo Posts: 7,012 Forumite
    A question for you Johnb0y, is say a person entered into an IVA and before doing so buried £50,000 in the garden and did not at any time mention or declare it in their IVA documentation, They paid all the arranged IVA payments as per the agreement as it existed and obtained a completion certificate. 6 months later they dig up the money, who does that money belong to? Can it be claimed by the IVA?
    Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
    Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.
  • BillyWilly_2
    BillyWilly_2 Posts: 39 Forumite
    Obviuosly it should have gone towards paying the debt in the first instance but on the basis that the IVA company wouldn't know I would say the person?

    Money is money at the end of the day and noone in their right mind would offer it to the IVA off their own back.
  • TomBoyNI
    TomBoyNI Posts: 39 Forumite
    It's a shame there is no definite answer to this situation after the completion of an IVA. I understand now that IPs are requesting people do these claims as part of their IVA. It doesn't give us an answer for those that are sort of stuck in the middle.
  • TomBoyNI
    TomBoyNI Posts: 39 Forumite
    debtinfo wrote: »
    A question for you Johnb0y, is say a person entered into an IVA and before doing so buried £50,000 in the garden and did not at any time mention or declare it in their IVA documentation, They paid all the arranged IVA payments as per the agreement as it existed and obtained a completion certificate. 6 months later they dig up the money, who does that money belong to? Can it be claimed by the IVA?

    I like this question. What is the answer?
  • johnb0y
    johnb0y Posts: 13 Forumite
    debtinfo wrote: »
    A question for you Johnb0y, is say a person entered into an IVA and before doing so buried £50,000 in the garden and did not at any time mention or declare it in their IVA documentation, They paid all the arranged IVA payments as per the agreement as it existed and obtained a completion certificate. 6 months later they dig up the money, who does that money belong to? Can it be claimed by the IVA?

    Debtinfo. That is really glib and has no bearing on the whole discussion in this thread. That is fraud, and should your scenario be real I would hope the police be involved and the person put away.
  • debtinfo
    debtinfo Posts: 7,012 Forumite
    johnb0y wrote: »
    Debtinfo. That is really glib and has no bearing on the whole discussion in this thread. That is fraud, and should your scenario be real I would hope the police be involved and the person put away.

    My appolgies if you misunderstand my intentions, it is not intended to be glib in any way, but as PPI reclaims are quite abstract it is merely to start from a point that is more solid, straightforward and that most reasonable people can agree on. Then to hopefully to show the logic chain to the PPI reclaim being an IVA asset, which feel free to point out where you think the logic breaks down.

    So since you argree that the above would be an asset in the IVA how about the next scenario.

    How about if shortly before your IVA someone transfered for whatever reason £50,000 to you. You didnt know that this had happened and it had been transfered to an account you did not use anymore, or that they sent you a cheque that got lost in your house for instance down the back of the couch before you realised you had it. Anyway the point being that you received the money unknowingly and you in good faith entered the IVA without knowing that there was an undeclared asset that you had. After the IVA has completed you come across the money, would you agree that again that is an asset in the IVA?
    Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
    Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.
  • johnb0y
    johnb0y Posts: 13 Forumite
    Im sorry debtinfo, but again whtas all this to do with mis selling?
  • debtinfo
    debtinfo Posts: 7,012 Forumite
    please bare with me, i promise i will get to that, if you would just like to answer the question i asked.
    Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
    Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.
  • johnb0y
    johnb0y Posts: 13 Forumite
    You obviously have a point to make, please make it.
  • TomBoyNI
    TomBoyNI Posts: 39 Forumite
    I hope that this thread doesn't go too of the chart. Is it being alleged that by claiming PPI after an IVA has completed you are a fraudster. That's a big call. When I entered my IVA PPI claims were unheard off and not something I was aware of. It was not avoided by me and again I am only claiming money I paid not anything that was written off. Something that the banks agree should not have been paid.
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