Creditfix and ppi

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Foggy

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Post by Foggy » Fri May 20, 2016 7:38 am
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You'll soon be there Huddo !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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huddo64

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Post by huddo64 » Mon May 23, 2016 8:23 pm
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Now then. Sorry to keep going on, but, If I owed 23.5k and have just had my PPI of 21.5k paid in, that leaves 2k to pay. I have 7 monthly payments of £270 to go. But because work is going well at the moment, I am regularly earning good bonus and having to pay uplift payments of £200 to £300. I could possibly pay £2k in 3 to 4 months. Would that be it? Paid in full? Or would I have to continue paying for the full 7 months? Sorry if this is a dumb question, but nothing surprises me at the moment.
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Foggy

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Post by Foggy » Mon May 23, 2016 8:55 pm
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It depends on what you mean by "owed £23.5K". As previously explained, you will be expected to continue making payments until either the end of the agreed term or you pay over the full original debt, fees and statutory interest. I believe we calculated this at around £45 - 48K.

However, if your IP is of the opinion that there is £2k left to hit whatever they have worked out as 100 p in the pound dividend, then it should stop when this sum is paid over.

It will be down to your IP's calculations in the end.
Last edited by Foggy on Mon May 23, 2016 8:58 pm, edited 1 time in total.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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huddo64

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Post by huddo64 » Mon May 23, 2016 9:24 pm
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I think I need to get a break down of what I've paid to see exactly where I am. Thanks.
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Lisa Thomas

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Post by Lisa Thomas » Thu Jun 02, 2016 3:44 pm
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Yes we did Foggy - roughly £48k.

If Huddo still has c£2k to pay then the only way you might get something back is to ask creditors to waive their right to statutory interest.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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