You may remember that I posted about a month ago regarding a PPI claim I had. Just to recap, I was a PJG customer who was transferred to CF. Just prior to the transfer, PJG said I could keep 50% of my PPI clam, however CF refused to honor that. I made a formal complaint to CF, and today I received this reply. (CF letter is in italics; my response is in bold)
I note that you have confirmed that it is not your intention to sign the resolution issued to you by this office on 7th January 2015 agreeing to the revised conditions of your IVA and on this basis I am unable to propose these to your creditors.
I don't understand what relevance this paragraph is to my complaint?
You have indicated in your email dated xx November 2014 that you had been informed by PJG that you would be able to retain 50% of the PPI claims in your annual review. I have carried out an extensive review of your case file and I can confirm that I see no reference confirming this position.
Couldn't have been that extensive of a review or they would have seen it the penultimate paragraph of my last annual review with PJG
I can confirm that I have sought legal advice in relation to the PPI claims and the content of the proposal documents modified and agreed to by both you and your creditors. I can confirm that my solicitor has advised me that the non- disclosure of an asset, even when done so innocently, is grounds for a default bankruptcy petition on the basis that the information contained within the proposals were false
Wow....let’s just slow down there a minute CF. At the time of taking out my IVA I was not aware that I had any entitlement to PPI. It was only when I was contacted directly by the companies involved that I actually became aware. As soon as I was aware, I contacted PJG and kept them informed. Nice threat regarding solicitors and bankruptcy though, especially when I've done nothing wrong.
Therefore I am unable to issue you with a 50% share of any PPI.
Interestingly, this is signed by the ever elusive Susan Wriglesworth!
I rang CF today to try and discuss this with Susan, but she was 'unavailable'. Apparently, the Complaints Manager will contact me next week.......I shall not hold my breath.
My question is, what should I do now? CF have taken no notice of any of the information I have sent them, and did not even contact me to discuss my complaint prior to coming to this ridiculous decision.
I was a PJG customer for three and a half years and had no issues. Six months with CF and I’ve had nothing but issues, and now I get a letter full of veiled threats.
Additionally you now have cause for complaint to PJG.
So much for professional courtesy between IPs.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
Why are CF involved in PPI? If you have been a customer of PJG then the company that was initially investigating PPI is the company dealing with it. NOT CF.
I was told by our supervisor several times that they had fully investigated and all funds claimed and entered into the IVA prior to the transfer to CF.
CF did initially send out info regarding expectant paperwork for a company called Claims Broker to my husband regarding ppi on a payday loan, but when we read the paperwork it clearly Stated they wanted to investigate all accounts again.
My husband and I told them what we were told by PJG and we've heard nothing since.
Hoping that's done with !
Started IVA 27th Feb 2012 - Due to complete 27th Jan 2018 !!
Full & Final submitted and accepted 30th March 2015, paid 10th April 2015 - 3 yrs 1 month into IVA
Completion Certificate received- 30th April 2015!!
I have no clauses in any of my documentation from PJG mentioning what would happen with PPI (or being allowed to retain 50% of any recovered) so I guess any in my name would be treated as an 'after-acquired asset' and I wouldn't get to keep any of it?
That's part of the problem - I think that CF will start chasing suggesting that PJG were wrong not to.
Our argument will still remain that we have consistently confirmed each year that no PPI was missold.
Looking at the way that PPI is causing problems its not something I want or need.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
At present that ambiguity may well work in my favour if PPI is not investigated during the term of the IVA (in line with the recent court ruling that PPI received after the CC is issued is the debtor's to keep).
My view is that all assets and debts should be investigated/dealt with within the term of the IVA. The IP has AT LEAST 5 years to do so and my view is once you're released from the IVA it's done and dusted.
I can understand why IPs try and get in on the action after the fact; PPI claims are often sizeable and they want their cut of the realisation.
I don't see this as you all do, I understand about the grey area and PPI but putting all that aside surely we all have a responsibility to pay back the creditors in full, we forget the full amount and only concentrate on the IVA amount- again I say we all should pay back what we borrowed
For most of us the whole point was realistically we never could pay back everything we owed.
Thats why we went into an IVA (and at this stage I wish I had gone bankrupt because the whole mess would be over by now).
If PPI was owed to me I would pay it over without a second thought - the problem is that IP's seem to be making this up as they go along and they are the only ones that seem to benefit.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
Yes I understand the grey area and individual issue but I stick to my point the overwhelming issue is despite the agreement we still are obliged to pay back what we borrowed and you can say what you like this must not be forgotten, I got 7k last Friday from PPI it was in the post within 24 hours to my IVA firm and I felt good. I do question when debittors question or hide behind admin and agreement issues
I see where you are coming from Ashb and, in the first half of my IVA I was taking great delight in overpaying, to the extent that I had hit the agreed dividend half way through ...... But then my personal circumstances took a turn for the worst and full repayment was not to be.
I also agree that some of those in an arrangement are looking at it from the wrong side (probably by virtue of those "write off up to 75% adverts). Most of us approach a IVA from the standpoint of trying to pay back as much as possible, but there are some who wish to pay back as little as possible.
That all said, although I wanted to pay back as much as possible I also expected my IP to play within the rules, just as I had to, and many of the questions are not an attempt to circumvent paying but are trying to ensure the IP plays ball --- as many seem to be bending rules or re-interpreting them to favour the creditor at the expense of the debtor, which, irrespective of the morals regarding payment of debt, is against the spirit and the letter of the agreed terms.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
The question of paying into the IVA any funds that have been investigated has never been an issue for us, as we like yourself and many others Ashb, agree that funds from the debts that we can claim back should go towards these debts.
One of the many issues with ppi surround the fact that IP's have 5 years to investigate and sort this out and that when IP firm transfers are taking place, they don't care whether it's been done previously, as they try to claim more themselves.
Personally, I feel that many of the creditors who we had debts with did not missell us ppi of which we would be claiming funds back falsely.
As per my previous post, Mel at PJG had spotted this all out within the first two years of our IVA starting.
Started IVA 27th Feb 2012 - Due to complete 27th Jan 2018 !!
Full & Final submitted and accepted 30th March 2015, paid 10th April 2015 - 3 yrs 1 month into IVA
Completion Certificate received- 30th April 2015!!
Can I also add that a large percentage of our debt included the extortionate interest that was added because we were unable to clear our balance in full at the end of the month.
PPI itself whether miss sold or not is an insurance and not what we used for credit.
I am not making excuses for us as we got ourselves into the mess in the first place (not to mention husbands redundancy), but there are a lot of us who pay back as much as we can even though everything is stacked against you.
We took the IVA route to pay back creditors as much as possible....they would have got a lot less in Bankruptcy.
