Muggins - threads are locked for various reasons - one of them being that the thread is going round in circles and Heretoday is hopefully going to be able to sort his problems out offline.
I think that rather than putting off visitors to the forum threads like this show just how some people in an IVA are being treated by their IVA companies and how it is being dealt with. Surely that is good information in which to make an educated decision on which IVA company you decide is your choice to commission your IVA. However allowing the thread to just add text and no new information is not very constructive.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
I am happy to let the thread run at the moment as it falls within the forum etiquette.
There are some important issues that need to be answered regarding PPI claims in IVAs.
I for one agree with Kieser regarding the frustration as to why claims have only just been made in the last few months when PPI claims have been ongoing for years ? This is the area that is holding up completion, I for one understand the need for claims but do not understand why the process has only been recent and why some companies are not chasing claims and others are ?
In my experience it boils down to volume, the company used to process and to what level the files are audited. Another issue can be the particular creditor. Some creditors are keen to clear up the mess others are not.
All views expressed are my own personal views. Without prejudice
First of all I had no intension of personally upsetting you, if I have in any way crossed the line and done so then I unreservedly apologise for this.
With regards to “there has been little information provided by companies like ClearDebt”:
I stand by this statement; until recently information has been sparse!
Things have improved greatly in the last few months, and of the the few post that you have made, they are informative of Cleardebt’s stance on the matter of PPI reclaims.
Of the three Cleardebt Experts, the most active has been Size5 and I have previously acknowledged his contributions to this forum. You yourself have been a very recent but welcome contributor to this forum. David, whilst having been an active contributor to this forum until a few years ago (not sure why he stopped) has only recently emerged to defend his actions and more notably to advise clients of DFD who in turn shot him down in flames!
Ref: “(and I note you haven’t contributed to the other thread since our policies and the reason for them have again been spelt out)”
I am not a legal, insolvency or PPI expert! I do not know where you have got this advice from or know if it is actually correct, so while I can agree or disagree with it I had nothing constructive to add to the thread!
The only point that you posted that struck a chord was where you acknowledged that “Although taken in isolation, being in possession of a single premium policy does not necessarily mean that it was mis-sold”
Ref: “not quite sure you have posted this post in the right context.”
Do you want me to provide a time line as to how and when David wrote to me with a letter containing the paragraph:
"Should you fail to comply with this request then I as your Supervisor will have no option but to consider this a breach of the terms of your IVA and shall have no option but to terminate the arrangement and petition for your bankruptcy and seek the appointment as your Trustee to ensure that this asset is realised.”
If so I will willingly post the letter that I sent and the reply that I received!
7 years after starting an IVA I finally received a completion certificate from ClearDebt
The reason that claims have only been made over the last year is that the legal case only ruled against the banks last year. No IP is going to do a lot of work on this area when matters were still speculative, and it is the debtor's respnsibility to realise assets and not the Supervisor's - so why have claims not been made an an earlier stage for those people with mis-selling claims now? Answer - no-one knew until last year that there was the right to claim and be repaid for something the banking systme got very wrong.
My own portfolio is very different to others Lesley, due to the wording of my standard proposals which may not result in mis-selling claims being assets. If my lawyers and regulators eventually do rule that PPI claims did exist on files which I have closed, I can still pursue them under the continued trust in the vast majority of my cases. I am therefore not holding up any case closures apart from those which are necessary - ie those which have standard R3 Terms and Conditions.
I completed a 5 Year IVA in 2011. I did not take out any PPI at all.
Even if I had PPI I would rather just leave this all alone now and get on with life after the IVA and would have not had had any intention of making a claim.
I have my completion certificate dated in May 2011. I believe part of the standard R3 Terms and Conditions through Hamiltons.
Is it likely they will contact me in future to put in a "non existant claim"? Besides which is there a 6 year time frame for making such PPI claims anyway?
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
Not sure if im right on this but my perception is creditors seem to be able to make alterations to ivas through tics. Why cant a resolution be put in capturing ppi post iva thus allowing closures.
All views expressed are my own personal views. Without prejudice
If you were not mis-sold anything The Matrix - then the continued trust provisions do not affect you, however the continued trust has no set timeline.
I would not think that any IPs will go trawling through their old closed case files in the hope that they will find furrher assets, but if former clients submit misselling claims then the banks may well contact the former IP to put them on notice and ask where any monies need to be directed.
Thanks Andie for keeping the thread open! It's an interesting one! Mel how can that be if nowhere in the contract does it say in mine that assets acquired following closure? Which terms would I have? I started mine in 2007 and completed this year! Did protocols change vastly after this? I'm still confused as to why there are such differing practises going on in what would appear to be a relatively simple query!!
So at what point does an IVA end, if even after you have your CC it still seems everyone can still claim a slice of your life. It was sold to me as in 5 years you will be debt free and any remaining debt will be written off, not oh and by the way we will still have a 'continued trust' in you. Surly at some point an end is an end.
If life is what you make it, I must have been in a strange mood when I made mine
