You have no choice - if your proposal states an all asset clause - then the IVA company have a duty to peruse the claims. Failure to agree could seriously delay closure. Its also worth remembering that in an IVA you will also owe the full amount of debt + fees until completion.
Hi rosalyn
You will have to complete the forms if you have had ppi in the past.this includes credit obtained prior to your iva.
The whole ppi issue is interesting. The onus appears to be on the company to be able to demonstrate you required the insurance and were fully aware of its limitations even if you specifically asked for it and do not feel you were missold. This was the case for me. Theres alao cases of people not being aware of ppi even when they thought they never had it on this forum. On the success story tab theres a good example. I think it was by Yorkshire lad and its been posted recently which might be worth a read.
Re the fact that youve already made additional contributions. My view is that I want to pay back as much as I can and I was not expecting a ppi refund so I dont mind it increasing my return if successful. .it makes me feel alot better to get as near to 100p as possible.but I appreciate people may not see it this way.
Which company are you with? Im with dfd / eif and if you are id asvise you to complete the forms asap and send them recorded post so they dont get lost and to keep chasing.
Hi Rosalyn - no you do not have a choice but do discuss it with your IP if you have concerns and need to understand the relevant clause in your proposal and how it is relevant to you. It should not hold up the completion certificate being issued but that depends on who you are with and what their own practises and policies are around closures.
Keep us posted and well done on being so close to the end of your IVA.
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
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It does nickjohn. But there is an argument that in defined asset cases, there may have been a misdeclaration on the part of the debtor if PPI was not included.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles
It does nickjohn. But there is an argument that in defined asset cases, there may have been a misdeclaration on the part of the debtor if PPI was not included.
How can it be a misdeclaration if you never new anything about it in the first place??
Not sure how others prepare their proposals but we never had any say in what was included in ours, we had an initial meeting with a CCCS agent, had a phone call with someone from GT then got the proposal through the post to sign.. It was never really explained to us and its only when the "spotty letter" came along that I was told that the actual proposal is our proposal, supposedly drafted by us..
Ultimately if the "experts", GT, did not draft a proposal with a "catch all" assets clause then that must be their mistake...
Also if the proposal is ours, supposedly drafted by us with third party "assistance", accepted by the IP, fully compliant with the relevant insolvency rules etc in force at the time, accepted by the creditors, then how can we be forced to change it to terms that are introduced by a third party at a later date which gives that third party a financial benefit..
Hi nickjohn
I can understand your point but from my perspective on entering my iva I know im subject to restrictions on income and windfalls so I see ppi as just going along with this. The creditors are wiping off part of our debts so they are entitled to this as well. If I hadnt have entered the iva then any money I received (if id have had any which other than the one ongoing claim I dont) would have been swallowed up by interest.
I realise you may not agree but wanted to add my take on it.
Cm x
Hi Claire, I have no problem with claiming back PPI and sticking it in the IVA, I have done this myself and put £1,000's in with no charges taken off.
My point of the discussion is that when the IVA is prepared it is done with the guidance with the IP, they have duties under the rules to ensure that the IVA is correct and that the correct questions have been asked and that investigations have been undertaken to ensure disclosure of assets etc.
When I, and presumably you, entered into an IVA PPI claims were not on the horizon so were not included, Mel's comment about misdecleration puts the onus on us for not including it within the IVA yet could it not be that the "Nominee" could be held responsible for not asking the right question..
Also if the IVA the Nominee helps you prepare is a defined assets IVA, as opposed to an all assets IVA, then again why is it your fault that it is in correct, the IP is the expert and they get paid to prepare a legally binding document, if they make a mistake in doing this then that's unfortunate and its their mistake.
Id taken it to mean failing to declare funds recd throughout the agreement rather yhan at the time of the proposal when us and the ip wouldnt be aware.
Cm
