I can imagine Playplan(and any other company) dont have the manpower or resources in place to manage these claims themselves - hence passing them over to a third party - seems like enonomical business sense !
Last edited by ginger3232 on Thu Mar 29, 2012 2:11 pm, edited 1 time in total.
i sure they get a cut of the fees - but the creditors also get a nice slice - and i am sure if they were not happy with this arrangement they would object
I don't think they are at the moment but I'm sure Michael will let us know tomorrow.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
This may seem a simple solution (from a simple person) but if bank's and building societies are admitting they mis-sold a lot PPI which netted them £bn's of pounds more or less illegally, why can't they calculate the PPI payments of those who are in IVA's (or who have recently completed) and deduct it from the owing amount? They get the "increase" of dividend and the case is closed once those in an IVA get their completion certificate.
That's what a lot of them are doing now...and the IPs reclaiming ppi for their clients are doing it for all clients now. It just so happens that some people are completing at the same time and they are being disproportionately affected because it holds up their certificate.
I would think that most companies will be reviewing their client portfolios to explore the possibility of PPI reclaims. We are, and see this as a duty to the creditors to maximise realisations - and creditor representatives have made it clear that they expect us to do so. It has been a slower burner for some firms - including my own - but as always I needed to seek full and proper legal advice before launching into the exercise. I'd be suprised if other firms are not going to follow suit to be frank.
It is possible that we will have to do this as the pressure is coming from creditors and regulators alike. If we do we will outsource it and no one will be pressurised into making untrue or misleading statements. It is not a profitable exercise as in many cases we will receive nothing for the extra work and to be fair we would rather not have to do it at all.
I feel quite strongly that it is right to reclaim PPI for creditors and that anyone who refuses should confirm to their creditors that they forfeit the right to make any future claim after their iva is completed. I don't want to sound like a girly swot, but I asked my IP to reclaim ppi for me last year and they refused at the time so I'm happy that things have changed. I'm hoping it will bump up my dividend a bit to help me hit the target I have in my head!
hi all . i have posted about my claim just now , but i think it will take a while to show as the forum is busy. We got a letter today saying we MUST claim ppi from dfd. We phoned dfd as we are completing on the 13th april! They said we had to do it or we will not complete. Thing is we were not mis sold poi and do not have any to our knowledge. We were told to sign it anyway and send it back. There is no space to say we have not been mis sold ppi so we dont feel its right. Also we have thing we need to do soon, like a new job for my husband which means he cannot be on the insolvency register. The job starts in the summer. We also will lose the house we are waiting to buy in the summer too. We were instructed to phone EIF and ask them to deal with it quickly. EIF said dfd are wrong and we do not have to claim if the above is so and also if we did as we have completed and if there was any monies in the claim after their fee the monies would go to us. Really can do without this now. Can someone tell meif we have to claim as like everyone else says its fraud. Thanks
the forms you complete allow them to investigate and then claim and not just claim, and as i understood the forms had to be sent back! I litrally just put down the phone to EiF chasing up my case, they have had my paperwok since before xmas and only sent the complains off in feb (8 weeks ago) i rang today fort a update and they are now sending out 7 day warning letters as non have responded! I was told the proces would take 12 week and run alongside the normal DFD closures procedure (which is estimated to be 4-6 months until you recieve your completion cletter and finally beome solvent again)
Im still confused, some say they cant make you, others say you need to do it! to be honest i just filled it in and sent it back and hoped it would make ocmpletion quicker!
IVA completion and certificate received 08/10/2012!!!
thank you artemischild, we too have spoken to both dfd and EIF today and dfd are adamant you have to sign. EIF say you dont so no idea what to do. Feel like i am commiting fraud claiming for something i do not have. Waiting for a call back from the supervisor at EIF called Rachel as the person we just spoke to says they will remove the case from the computer but where will that leave us with DFD? Bet its really hard for you too. Was told 12 week too for both the completion certificate we desperately need and EIF completion if we go ahead . Very confusing. Really dont want to have to do this
Just a quick note. Rachel from the ppi claims firm said you may as well apply but don't have to and should not feel pressured to . She is speaking the DFD on monday to iron things out. Maybe Declan will pick up on my thread when its posted.
Hi I have spoken to Payplan and they have told me by email that I am not obliged to make a claim but if I do it will not effect my completion, so I do have the choice but however I don't have my completion yet so still feel slightly vunerable, Advice please
Thanks Phil
