One person said PPI was mine, then another told me it would have to go to creditors.

[Sharond2193]

i completed my iva back in sep2015 and had the completion certificate.Today i received a letter regarding ppi owed to me from one of my creditors saying payment will be made to my iva company payplan and i need to sort it out with them.After phoning payplan ive had two different answers.First the lady said it should be mine as my iva is finished.i phones th ppi people to tell them this and they said ok fine just get payplan to phone them and confirm they have no interest in the money.So i phoned payplan back up,different person who told me even though my iva is finished and windfalls i have now or in the future have to be paid to them to be distributed between my creditors.???? I thought once an iva was completed the debts were written off.So annoyed at the moment.Please help

[Foggy]

Hi. PPI is an asset of the IVA. Up to now it has been thought to be so even after the IVA has completed. However, there has just been a court ruling to the contrary, which you might like to make the firm and Payplan aware of. If, though, you have signed a deed of assignment or similar regarding PPI you might have already transferred all interest in such PPI to Payplan.

Here are the details of the court ruling:

http://ivanews.blogs.iva.co.uk/

[Shining]

Hi and welcome, I'm confident the link will help you.

Foggy, so that means basically if you've signed a deed of assignment it's theirs and if not it's goes to the person claiming. eg myself finished IVA and completion certificate received , never claimed PPI - if I did now and was awarded some it would be mind to keep?

[Foggy]

Lesley, that would be the case if the ruling sticks -- we have yet to find out if any further appeal was lodged.

The Deeds clients have been asked to sign in the past get round the court ruling because they have specifically pledged PPI to the former IP ---- although it could be argued that they were signed under duress in many cases.

[Shining]

Interesting but I still maintain to the best of my knowledge I never took PPI.

[Foggy]

So did I, Les ... so did I !!

[James_R]

Apologies for jumping in on this topic, have you got anywhere with this Sharond2193?

I have found myself in a similar position (CC received July 2014, and just received a letter March 2015 from a creditor advising they will now pay out on a previously rejected claim) I would be interested to hear other peoples views.

Picking up on Foggy's point, I do remember signing a Deed of Assignment some time towards the end of 2013, which was pitched to me as "we'll be able to issue your completion certificate immanently regardless of any outstanding PPI claims so you must sign this now", but I also then subsequently received a letter in December 2013 advising this assignment process has been withdrawn from immediate effect.

Does this now mean the assignment process is void, and I am in fact released of all obligations and entitled to the PPI refund?

Thanks,

James

[Foggy]

I wouldn't count on the Deed of Assignment being withdrawn -- more so the fact that it would speed the process. I would imagine they would, and could, fall back on the fact that you had assigned interest in PPI to them.