Our IVA ends in October and we have no equity so that's now sorted.
PPI claims have been done by ourselves. One creditor offset their PPI refund (Nationwide).
We've been advised by our IP firm that before our IVA ends...
"we will still need to approach your creditors for instructions regarding the PPI" ... and have been told they will be back in touch in August, when they will then "draft a variation report."
Is this how PPI is normally dealt with? I'm just slightly confused since to me PPI is all done and just the offset needs clarifying?
I'm happy to sign away all PPI rights. Just didn't realise a variation was needed to do this so wanted to ask why this happens and if there are likely to be any issues to watch out for with any creditors? Thanks
"Hope is the feeling you have that the feeling you have isn't permanent." - Jean Kerr
IVA approved Aug 2008 - 6 year term - last payment made 6 Oct 2014. CC received 14 Nov 2014.
Some IP firms - mine included - take the view that a full and independent PPI investigation needs to be carried out, not only on the creditors included in your IVA, but also on debts which you may have paid off prior to the IVA being accepted.
I don't see why this should take until August to implement, however. If they start it now, there could be a good chance that it could then be closed on time.
Thanks Melanie. So I'm assuming the full independent investigation is to look for old accounts outside of those listed on my Creditors list eg. old accounts from 10 years or more ago that I've long since closed and forgotten about?
If so how does a Claims Company find the details of these old accounts as I don't have any info and can't remember any? I've already gone back to all the old accounts I could think of - creditors from both my IVA and ones prior to the IVA but I can't recall any more. How do they go back and have access to information I myself don't even have any more?
Last edited by Til on Sun Apr 06, 2014 5:22 pm, edited 1 time in total.
"Hope is the feeling you have that the feeling you have isn't permanent." - Jean Kerr
IVA approved Aug 2008 - 6 year term - last payment made 6 Oct 2014. CC received 14 Nov 2014.
Ah thanks Melanie - I thought that since credit drops off after 6 years it would not show anything older and I've already gone through everything that remains on my report.
"Hope is the feeling you have that the feeling you have isn't permanent." - Jean Kerr
IVA approved Aug 2008 - 6 year term - last payment made 6 Oct 2014. CC received 14 Nov 2014.
