Payment Protection

4 posts Page 1 of 1
Post Reply
 
 

Betty123

User avatar
Posts: 1
Joined: Tue May 20, 2008 3:11 pm
Location:
Post by Betty123 » Tue May 20, 2008 3:17 pm
Quote
I have just returned my signed proposal so are currently awaiting a date for the creditors meeting - today I have received a letter from one of my creditors saying they are going to pay me back money for payment protection which I took out as I challenged them over this some time ago. Can I keep this money as my IVA has not yet been agreed or will I have to hand this over if and when my IVA is agreed????
Top
 
 

rayb

User avatar
Posts: 1288
Joined: Wed Dec 12, 2007 11:15 am
Location: United Kingdom
Post by rayb » Tue May 20, 2008 3:18 pm
Quote
I am pretty sure you will have to hand it over. Good on you for getting a result on it though as I am still trying to claim through Lloyds TSB and am getting nowhere. An expert should be along shortly to confirm for sure though
Top
 
 

chris.g

User avatar
Posts: 2102
Joined: Thu Oct 25, 2007 10:38 pm
Location: United Kingdom
Post by chris.g » Tue May 20, 2008 3:54 pm
Quote
I think it will entirely depend on when you get the money....if it's before IVA then I imagine you should really keep it to pay into the IVA, if it's after IVA then you will have to pay it in......
xx
Last edited by chris.g on Tue May 20, 2008 3:56 pm, edited 1 time in total.
It's nice to be back......
Top
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:
Post by MelanieGiles » Tue May 20, 2008 4:02 pm
Quote
If it is a claim which is known now and is likely to be paid to you, it is an asset and should be disclosed and paid over to the Supervisor to enhance the dividend payable to all creditors.
Regards, Melanie Giles, Insolvency Practitioner
Top
Post Reply
4 posts Page 1 of 1
Return to “postings for may”