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    • Tinks*71
    • By Tinks*71 8th Sep 17, 8:53 PM
    • 1Posts
    • 0Thanks
    PPI refund after IVA completion
    • #1
    • 8th Sep 17, 8:53 PM
    PPI refund after IVA completion 8th Sep 17 at 8:53 PM

    I'm hoping someone can offer me some advice as not sure what to do. Last year I was issued my Certificate of Completion as confirmation that my IVA had been finalised. Part of the agreement was to check for any PPI owed and the Insolvency Practitioner (IP) appointed a solicitor to act on my behalf. The result was nothing owing.

    Yesterday I received a letter from my former bank stating my claim had been revisited, along with others, as instructed by the Financial Services due to concerns with their investigations. This has revealed that I was mis-sold PPI on loans dating back to April 1993, way before I entered into the IVA (2011). The bank contacted the IP who said they had interest in the monies and so in 28 days they will be receiving the lump of money.

    I rang the IP and they told me there was a new court ruling which was up in the air/being appealed and it may be some weeks before there was an outcome. I asked what would happen at that point and was told either they would keep the money or they may return it to me.

    I've contacted the FOS and CAB and both advised I re-contact the IP for clarification of the new ruling which I did. The IP sent me a couple of links; one to Green v Wright and the other about Plevin.

    Having searched on the web I can't find any 'new court ruling' which is being appealed - any ideas?

    Where do I stand? Can they claim this when it's for a something I paid 18 years ago? Does it mean the Certificate of Completion means absolutely nothing?

    Any advice would be appreciated.
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    • dunstonh
    • By dunstonh 8th Sep 17, 10:52 PM
    • 93,032 Posts
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    • #2
    • 8th Sep 17, 10:52 PM
    • #2
    • 8th Sep 17, 10:52 PM
    Plevin doesnt apply to upheld complaints. I thought Green v Wright had completed. It initially found in favour of the debtor but the court of appeal ruled it should go to the IVA.

    So, not sure of any other court cases.

    Where do I stand? Can they claim this when it's for a something I paid 18 years ago? Does it mean the Certificate of Completion means absolutely nothing?
    You failed to repay your creditors. The money goes to them. Why should you have it and they should not? That is the counter argument.

    Think about this for a minute. You borrow money and pay PPI with a lender. You go into an IVA and the lender only gets back 33p in the 1 (i.e. one third). You complete your IVA. You then put a complaint in about the sale of the PPI and its upheld. Should the money come to you or the lender you didnt repay?
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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