Dear actorbird.
I am sorry that our communication hasn’t been up to scratch and that we haven’t explained things well.
If, whilst in an IVA, you receive a refund of PPI premiums from the creditors, who form part of your arrangement, then these would normally be paid into your IVA for the benefit of all creditors not just to creditor that refunded the PPI premium. In this instance Halifax may send an offer letter to you but it’s unlikely they’ll pay that amount off your debt with them.
Any refunded PPI premiums received during the course of your IVA, would go into the arrangement and then distributed in the same way as your contributions. This means all creditors will receive a share of the pot.
It’s also common for creditors to sell debts on to other firms rather than administer the account themselves. Without knowing your case directly, I suspect this is why the Halifax are unable to locate your account.
It’s likely that the debt will still exist but with a different company. However, in rare cases creditors have applied the PPI refund to their own debt, so we can’t rule this out entirely.
Providing you with an accurate balance is difficult, however we can provide a ball park figure, given confirmed balances less deducted payments.
I’m sorry that this is not as straightforward as it first seems and it’s something we’d need to discuss further with you. We’d like to look into this and clarify things for you so you’re happy with how things are going.
Please email me your details to
Steve.Hewitt@Freemanjones.com and I’ll get onto this for you straight away
