IVA company refusing to issue termination certificate unless I take out PPI claim. Is this legal ?

[savvasandreas]

oh dear sorry to here that not good i am so hoping for a quick end to this

[savvasandreas]

i have just received forms from my iva company for me too complete so they can claim ppi . will this affect my bankruptcy . and will i be able to go bankrupt with out termination certificate. they have offered me £500 pounds goodwill gesture if we sign the ppi forms is this normal

[Niobe]

Speak to the court to see if there will be a problem if you don't have that termination.

I've not heard of anyone being offered a monetary incentive before

[savvasandreas]

I have been to the court and the receptionist was unable to give advice then said she has never known a case go bankrupt with out termination certificate

[savvasandreas]

The £500 pounds would be Taken from any ppi they get back

[MelanieGiles]

I gather that it is ClearDebt policy to let their clients retain £500 from any successful PPI reclaim made and paid.

[savvasandreas]

hi all just filed my bankruptcy papers with the court and they do not need the termination certificate they just inform my iva they have 2 weeks to comply i gave them my iva supervisor and the company and they said that is all i need to do so happy it felt like my iva company had me over a barrel but the court said they will sort the iva fantastic news so after 2 weeks im bankrupt

[Heretoday]

That is indeed good news, glad you have managed to break the shackles that were holding you back and you can now move on.

[savvasandreas]

thanks we did try very hard to keep to our iva but they would not help when times got hard refusing to lower our monthly payments in the end losing my job meant bankruptcy was only option thank you all for great advice it meant a lot thank you thank you all

[MelanieGiles]

Glad to see that things are moving along for you in the way you want them too - presumably the Court has given notice to your IP of your intention to file for bankruptcy so they can make any objections should they see fit.

[savvasandreas]

Yes they have written to my iva to give them time to object . Put they did say they don't need termination certificate as it is the same court that agreed my iva

[Karen.mg]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles

I gather that it is ClearDebt policy to let their clients retain £500 from any successful PPI reclaim made and paid.

I've just received the letter from CD requesting me to complete and return to claim PPI, it says as a goodwill gesture I can keep the first £500 of successful claims (total not per)! Also it says they don't actually need my permission to do this as they can go ahead without it. [:0][?]

[Heretoday]

They don't need your permission to contact your creditors, but this may speed the process up (I assume to find out if your accounts had PPI sold) but they do need your permission to make a claim for miss sold ppi.

I am still firmly of the view that if you believe that you were miss-sold ppi then by all means cooperate to make a claim. However if you don't believe it was miss-sold then no claim should be made.

I am not for one miniute telling you what to do as the latter can prove very stressful.

Amazing how paying a claims.managment company a 35% cut and giving the debtor a £500 sweetener is realising all available assist to maximise the returns to the creditors!

[in-a-mess-indeed]

I find it shocking!

[orchid5]

This whole fiasco is shocking, even more so when there does seem to be discrepancies in what can and can't be done, now we have one IVA firm allowing their clients to keep £500 of any PPI monies! Shifting sands and moving goal posts come to mind here.