DRSP Post IVA

[kieser]

Hi,We finished our iva which ran from 2006/2012.

This is when the whole PPI came to light. Cleardebt (my IP)offered a £500 goodwill gesture (Even though we did not have a choice)to go through the ppi investigation route via DRSP.

Now this is now running nearly into its 4th year with DRSP & still no end in sight.I phoned DRSP today to be told 2 cases are still being worked on.

Funny though that at no time have we seen the £500 promised & written in stone from Cleardebt. Any idea how long this should legally take,as i say we finished our IVA nearly 4 years ago & are still involved.

Many Thanks

[lifenoteasy]

Personally I would say that if you have had your completion certificate then just forget about it all and if they need anything further just tell them to go away.

[Lisa Thomas]

Did you agree DRSPs terms or anything in writing with the IP?

Current law is that after you've got your CC, unless there were any PPI clauses or assignment of PPI then you're free to recover and keep the PPI yourself (although this is currently going through the court of appeal)

It sounds as if you perhaps agreed to assign the PPI over to them and they would give you a goodwill payment of £500 once they have received any refund from DRSP.

No idea how long PPIs take I'm afraid but you might have a case to complain to the Ombudsman about DRSP if they can't provide you with a justifiable reason for the 4 year delay which sounds wholly unreasonable on the face of it.

[lifenoteasy]

PS - any fees paid via the IVA can potentially be offset against your business especially if you can link the IVA towards a turnaround plan for the business itself rather than going into a CVA.

[kieser]

Thanks Lisa for your reply,Yes we were BULLIED OTHERWISE Cleardebt refused to issue CC & would take action against us) sorry signed TO SAY DRSP would look into our PPI.

I tried everything at the time to avoid this but Cleardebt held all of the cards.

At that time this had only just been started regarding PPI so we did not have any choice.

Just going around in circles really.DRSP say to speak to Cleardebt reference time & Cleardebt just respond with talk to DRSP.But, nearly 4 years is really taking the biscuit.

Yes we have in writing Cleardebt would issue £500 goodwill gesture as this practice was new at the time.

[Lisa Thomas]

To be fair your Supervisor has a duty to check whether any PPI assets are available for your IVA estate and they would have needed to do something about this, one way or another, or they would have had to keep your IVA open.

[lifenoteasy]

Sorry - my previous posting was not meant for this discussion.

[kieser]

Yes. I understand that. But DRSP taking years to investigate PPI surely is slightly excessive. I sent an email today to Clear debt & just received a call from a lovely girl Lisa asking bank details to be able to deposit said £500. Happy days.

[David Mond]

kieser.

If you send an email to me directly (david.mond@cleardebt.co.uk) I will be happy to look into your concerns.

If as you say the process has been going on for 3 years I can only assume either:

1) your claims are with FOS who currently take a period of 2 years or more to provide their mediation service; or

2) you have claims with a lender who intends to set-off claims (keep the money for themselves rather than split the funds amongst your creditors as should happen)

If either of these things are the case then DRSP will have done everything possible to conclude claims and anything that remains will be due to either FOS's timescale (which nobody can control) or the fact that a creditor intends to keep the money in which case many of us IPs are discussing options to ensure the money is realised in accordance with the terms of the IVAs and all creditors are treated fairly but this issue supersedes claims management companies and is an issue for the insolvency community generally.

With regards to the £500 - this is paid from the estate and I am unsure why my staff would not have contacted you earlier without seeing your case and checking the position.

If anyone else has a similar situation then I will be happy to look at it but if your case has been open a while, it is highly likely that FOS, set-off or a combination of the 2 will be the reason.

I hope this will suffice until you contact me.

Regards

David

[Lisa Thomas]

Hopefully David can answer your case specific queries if you get in touch with him.