I have received my yearly breakdown statement and there is a part that says, other assests, refund to debtor and an amount of money at the side of it, does that mean I m entitled to that amount ? do I have to ask for the refund or does it go back In to the pot, thank you
Hi Sara -- I would imagine this is a PPI refund that was due to you from a creditor. This is regarded as an asset and, as such, payable into the "IVA Pot".
Your IP will clarify this for you, I am sure.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
That's usually an amount that has actually been refunded to you already for some reason. The most common reason for this is where a payment has been made into the wrong account ie you have made a partner's payment into your account and this has then been transferred to their account. If the IVA company realise this they may have just corrected it without informing you first.
It can also be where a creditor has returned payments made to them due to their claim reducing for some reason or the debt having been sold to another company and the payment has been returned for redistribution.
