I completed my IVA in 2009. Last month I got a letter from a Credit Card company - saying I was due a PPI refund after they had reassessed my account. It was for close to 20K! But in the letter it said that the refund had been sent to my former IVA supervisor - even though my IVA completed in 2009 and there was never any mention of PPI at that time. After reading of similar cases on this forum - I was resigned to not receiving a penny of the refund as I expected it to be paid to my former creditors.....but imagine my surprise when my former IVA sent the cheque back to the Credit Card company saying the IVA was closed and they no longer had any interest in it, and the Credit Card company re-issued the cheque to me! The kids will be having a good holiday this year!
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
Considering that PPI is money fraudulently taken by, on the whole, the big banks and larger creditors, and which has contributed in no small measure to some going into debt solutions in the first place, I feel the creditors (and thence down to the IP's) should have been instructed to deal with this more fairly from the outset.
This has all been unfairly exacerbated by the banks refusal to cooperate and continued deceit and fraudulent handling of claims.
It is about time that the Insolvency Service grew a set and drew a line under this for claims going forward. I can see a time, some way in the future, when someone has the wherewithall to contest whether these fraudulently obtained funds should have been given back to the creditors again.
Rant over ... time to fall off this high horse .......
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
What amazes me is the huge amounts that can be refunded, the whole PPI industry must have been one huge money spinner for the banks before all the claims started
Hi Andy, I think in my case, I had very high credit limits and the cards were max-ed out, with high minimum payments made every month , therefore with PPI being calculated on the outstanding balance each month - it was a lot of money. I also had the cards for many years like this. But I am not complaining at all, far from it,all my PPI claims were post IVA completion, and I have been very lucky not to have had them included in my IVA and I have received around 40K in redress - which strangely enough is about the amount my creditors received from my IVA!
Last edited by JJSIDE on Fri Aug 14, 2015 5:06 am, edited 1 time in total.
