Just a quick question about IVA's and PPI claims. I have an IVA with Payplan and made my final payment to them on 01/02/12 - I am now awaiting my completion certificate. I began to fill out forms for PPI claims after I had made my final payment (NOT using money grabbing Equity in Finance!). I have received a letter from Lloyd's offering just over £1000 in compensation. Their letter states that their records show I have an IP so they will contact them to see how they want the money distributed. I emailed my case officer to ask her what would happen and she said that reclaiming PPI was my own prerogative and I am under no obligation to do so, and that as I am only awaiting my completion certificate ho money would be due to be paid to my IVA. This was around 2 weeks ago and I have heard nothing since from either. Does this sound normal? Every other post I have read suggests that any money will go to my creditors. It almost sounds too good to be true!, any help or advice would be greatly appreciated.
I assumed it would go to creditors too. Hang in there one of our knowledgeable posters will be along soon, might be worth speaking directly to your IP. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Welcome from me as well. I'm the same as Lesley, I was under the impression that until you had the completion letter that any PPI would go back to the creditors.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Normally the claim would still go to creditors, but it is your IP's decision ultimately. Although it would also depend on the wiggle room your IP has within the terms of your proposal.
