Completion and PPI ?

[2e1var]

Hi I made my last payment on my IVA 0n 10/8/11 [:)]
I assumed that I would have received my certificate by now, nothing ? What time scale can I expect ?
In December I was sent documents from my IP to claim PPI back. I was told this was compulsary as they had an obligation to put this into the IVA. I refused to do so as I had fully paid up and was past my 5 years, heard nothing since. Can anyone advise ? Can they do this ?

Thanks in advance.

[kallis3]

Hi and welcome.

Your iva is only complete once you have your completion lettet. I imagine the delay is because you didn't sign the papers. Did you actually have any PPI to claim back? If not you need to speak to tour IP company and explain this.

Which company are you with?

[2e1var]

I did not sign the papers. I found it a little cheeky to tell me this 3 months after I had made my final payment ! There may have been a very small amount of PPI. Can they do this once I'm all paid up ?
Varden Nuttall was the IP.

By the way my IVA has just been deleted from my credit file but not the insolvency register. Does this mean it's all done or does it drop off automatically after 6 years ( My IVA was extended following a change of circumstances so 6 years was about now)

[kallis3]

It will have dropped off after the six years but it's not completed until you get that letter saying that you successfully complied with the iva.

Their timing was bad but I believe that if you are entitled to PPI then it should be paid across to your creditors.

I would give them a ring and ask them what is happening.

[plasticdaft]

If there is a ppi claim to be made it should be made before the IVA ends,and VN are well within their rights to ask you to sign paperwork to allow a 3rd party to reclaim this.

By delaying you are only harming yourself,as any windfalls(lottery win or inheritance),that come your way before you get a completion certificate will be captured by the IVA as well.

Contact VN and ask them whats going on,even if there is an outstanding ppi claim they cannot just leave you hanging on forever!!

Perhaps if the ppi letters were worded differently and arrived during the last year of an IVA to prevent a delay in closures clients would be more willing to play ball.

Paul

[Daveyboi]

I find this new practice to be disgusting to be honest if the debtor does not feel they have been mis-sold PPI then why should they claim for it. Claiming for it is a legal challenge and if you don't believe you have been wronged then you are actually making a fraudulent claim. People seem to be forced into it by their IP's lately whereas before it was only if you wished to do so

[Daveyboi]

My IP rang me years ago asking if I wanted to do it because they have recently been able to process it for me and I said no thanks. It's just another revenue making exercise for the company

[pip25]

Hi there,

I too am with Varden Nuttall and made a full and final offer in August of last year.

Several weeks later I recieved a letter regarding PPI. I sent the forms back that day and advised as far as I could remember I have never had PPI however it was several years since I had taken my loan out.

I was advised it would take the solicitors 2 weeks to do an initial investigation as to whether any PPI was due and if they found there was, it could take a further 16 weeks to claim it back.

This was the 16th November the forms went back. Almost two months on and several phone calls and emails later, I am still no further forward and hanging in limbo.

I have been pleased with the service from VN up until this point and whilst I appreciate their hands are tied on the matter, I am not happy that I have to continuously chase for an update.

I was told the solicitors would be contacting me to ask me some questions this week, as of yet, no phone call.

I feel the way this has been handled is very unfair, especially to people in my situation who have completed their IVA's and are awaiting their certificate.

There seems to be no urgency to get things moving and this is very, very frustrating!

[Daveyboi]

Can I ask if you felt you was mis-sold PPI or was you told you HAD to claim whether you wanted to or not?

[pip25]

When I was first sent the letter I emailed to say I had not been mis sold PPI and therefore it was not relevant to me.

I was then told I had to sign and send back the letter for the solicitors to look into my case or they could not move forward with my completion.

I did not want to rock the boat being so close to getting my certificate but I have to say, I find it rather disgusting and felt backed into a corner.

I was also given these time frames which have so far proved to be a lie. As I said, it has been almost two months and not heard a thing other than when I chase and i'm told "we're still waiting to hear back".

[Daveyboi]

I personally disagree with anyone forcing people to put in a claim for something they don't think they've been mis-sold. It's an extra revenue making exercise for the IVA Company and it's no their job to tell you whether you had been mis-sold or not they wasn't there when you took the loan out they never heard what was said. To force people to do it otherwise they won't close your IVA is beyond disgusting its bullying and they are preying on the already vulnerable and yes if it was me I would complain to their licensing body.

[plasticdaft]

VN or any other IP firm should not be forcing people to make false claims,which is pretty much what seems to be going on. IF you say so I wasnt mis-sold ppi then thats where it ends.

Poor show by some firms,to make a fast buck,and cling onto clients for a bit longer,meaning they get to gather up any windfalls as well!!

Paul

[Daveyboi]

Completely Agree Paul it's really bad

[Tina Shortland]

I completely agree too - unethical on a professional level and a moral one too.

Regards,

[Gareth]

Hi all,

I cannot answer for specific cases on the forum but if any of Varden Nuttall's clients would like an update on where their IVA completion is up to then please email me on gareth.buckley@vardennuttall.co.uk and I will respond as soon as possible.

Please note that the reason for delay is unlikely to be because of the PPI, but because of the on-going VAT issue. Until recently it was understood that VAT should be charged on IVA cases and this has recently been overruled by a court case. As a result any VAT paid to HM Revenue must be reclaimed and paid into the IVA.
Guidance received yesterday by the regulators (basically the organisations responsible for monitoring Insolvency practitioners) confirmed (in their own words):

"Where possible cases which would otherwise be due for closure should be kept open where a claim has been or is to be made..."

The above basically means that IVA cases should not be closed until the VAT refund has been received from HM Revenue. Varden Nuttall submitted the claim on 12 September 2011 and we are currently waiting for HM Revenue to issue the refund.

If I get any further updates I will let you know.