hi I finished my iva 18 mth ago received completion certificate a yr ago and rbs have just sent me an offer for ppi . equity and finance have wrote saying if I receive the cheque can I forward it to them ... is this right they've had ppi payments sent directly to them and iv not received a penny interest during iva but surely now its completely finished it should be mine ?? as if id of claimed all ppis b4 entering iva I wouldn't of needed to go through with it please help . what will happen if I cash cheque ?
The theory is that any asset that existed prior to or during the IVA can be captured. This is based on (some differing) legal opinion and has yet to be tested in court.
Some IP's are not going back over old cases, however, they are duty bound to recover an asset they are made aware of. Some IP's are actively going back to closed cases and investigating.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hmmm, it's interesting that you state that if you had been able to claim ppi before your iva then you wouldn't have needed an iva in the first place, why is that do you think? Perhaps because you would have been able to clear your debts? If that's the case, why do you feel that now you have had an iva and had the benefit of no interest or charges on those debts for the last 5 years, plus perhaps had a certain % written off that the ppi money should now be yours and not go someway to repaying those debts?
Sorry if this sounds harsh, but your logic doesn't add up
Hmmm ... I wonder .... would not having taken out PPI have saved you from an IVA ? In my case I would probably have just been able to borrow a little more !!!
And, as Lem alludes to above ... the sums I have saved in debt written off, along with interest I have not had to pay, makes my PPI refund a drop in the ocean anyway. My creditors are welcome to it.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Not sure if they could, if your IVA is completed then no debt exists and would the IP open the case to distribute funds to creditors ? If the PPI claim was started prior to closure of IVA then why was IVA closed and CC issued, or was this issued under the condition that any outstanding PPI claims are made to IP ?
I wonder if the debt does cease to exist, or whether it's just not collectable.
I'm fairly sure anyone sought to defraud their creditors/IP, the creditors would look to receive additional funds, if so then the debt still exists ?
Also with the issuing of completion certificates before PPI is finished suggests the debt still exists, as if when completion certificate was issued the debts were null and void where does the PPI go ?
My iva closed in november 2013 last year about 4 days later I recieved a letter from santander to say they are giving the ppi money of £5254.06 to gt I phoned gt today and they still havent recieved the money its a while to go in to the pot I have been told I will get the interest on it.
Last payment made August 2012 Certificate of Completion recieved 15th of Novenber 2013.
From reading the original post it appears Equity & Finance have done the delving. If this is the case, I think the cheque would need to go to them but I would be writing to ask them to pass on the interest payment to you and not creditors.
