Hi guys. Ok so I'm going to try my best to explain it all date by date below. I had some debt issues awhile ago and was put on an IVA with Payplan.
November 2008, I started the IVA with PayPlan
November 2013, I completed the IVA and was given the completion certificate which I have here with me
10th September 2015, I was informed by AI scheme limited (by letter) that I may have a PPI claim
21st September 2015, I received letter from Barclaycard saying my claim was successful and that they has sent a cheque for £3601.61 to Payplan
25th September, I called Barclaycard requesting the cheque be stopped as I haven't had any dealings with Payplan since my completion in November 2013 but was told that I had to contact Payplan.
25th September, I called Payplan but was told they are allowed to keep the money and I am only entitled to the intrest (8%).
After explaining that the completion certificate says that they are only entitled to any 'pending PPI claims post closure) I was told that I am still only entitle to the 8%.
The lady on the phone said "Oh we are allowed to keep it for up to 6 years after the start of your IVA" ..... However it's now been over 7 years. Her supervisor still said "You can have 8%"
I did try to log on to the PayPlan site to look at any old documents but as the IVA ended in 2013 it won't let me in.
Do I have a legal standing on this? I had no idea any PPI was due to be until a couple of weeks ago when AI scheme said I might have. It's been way over the 6 years since I started my IVA and I have the completion certificate to prove I finished up in Nov 2013. Any help you guys could give me would be very much appreciated.
I heard about Green VS Wright in March 2015 that may be of help? Thanks.
Whoever you were talking to was making it up as they went along.
They were referencing the timescale for not declaring an interest in a debt.
If ppi was an issue or referred to within your iva then they probably can have it.
The court case suggests if it wasn't referenced then you should have it.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
At the time no PPI was mentioned to me. Back then PPI wasn't as big an issue now and to be honest ig A1 Scheme hadn't had contacted me I would never have asked for any PPI as tbh I never knew I had any owing.
I've put it in writing to them requesting they forward the money on to me. I'll start that way and see how it goes. Thanks
Green versus Wright has not been settled yet and there is a good chance it will go in favour of the IP. However this case rested on the R3 standard terms and conditions and not Protocol. I f your IVA used Protocol T&Cs you may have a case but you would need legal advice.
Most of the IVA industry will fight tooth and nail to keep PPI because it is shoring up their finances and keeping them viable (not all but most).
It comes down to is it a part of your life that is done and dusted so let them keep it or do you fundamentally believe that you should have it.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
