My iva finished almost 3 years ago and I am now in the process of reclaiming mis-sold ppi on a loan which became part of the iva debt. Am I entitled to the compensation now I have been discharged from the iva?
It is likely that the PPI will remain an asset of the IVA even after closure. Make sure you do not incur a debt to a claims management fee if the PPI is offset or sent to the IP firm.
I thought once you receive the completion certificate you had finished all your obligations to the IVA and you go back to a normal life not still having to report every penny back to IP?
Hi Wiz. I has been argued that PPI was an asset during the life of the IVA and is therefore payable into it after the event.
Anything that arises after completion is of no interest to IP or creditors.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Sharon10, we all were but I have yet to hear of anyone getting any back. If anyone has please let us know as at the moment it seems GT and EIC are not bothering to pass back the interest they said we could have.
If life is what you make it, I must have been in a strange mood when I made mine
It really does depend upon the wording of your original proposal Susan. Not all IVAs included provision for PPI reclaims to be treated as assets - so if you are in any doubt have a chat with the IP who acted for you in the IVA to be sure. Unless the amounts are material, it is quite likely that they will not want to be bothered to reopen your case again - even if the monies are deemed to be an asset.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Peejayel
Sharon10, we all were but I have yet to hear of anyone getting any back. If anyone has please let us know as at the moment it seems GT and EIC are not bothering to pass back the interest they said we could have.
Hi,
I have been asking for my 8% interest from the ppi for over 16 months. Grant Thorton told me last week they are still working on a data base and have know way of dealing with it yet as they are still testing a trial before the customers can have their 8% back. They couldn't give me a time scale either. I had my closure certificate in Sept 2013. Shocking service I just keep getting told how lucky I am that they are giving me 8% anyway. Let us know how you get on
Not heard anything from EIC since we signed the papers rang them last month as they have collected over 8K from hubby's ppi and over 7K from mine but they said they were still waiting to hear back from Capital one. I am going to start ringing them monthly as we finish in 12 months and would hate to still have this ongoing then. We have not heard anything from GT about the 8% except that they will pay it once the PPI investigations are complete for us. I will believe it when it happens
Last edited by Pandy on Mon Apr 21, 2014 2:25 pm, edited 1 time in total.
If life is what you make it, I must have been in a strange mood when I made mine
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles
I'd like to know exactly what they are testing, Joanne - do you think you could find out more?
When I spoke to them they said as it was a very complicated process of allocating the correct monies to the different creditors and then working out what needs to be paid to whom they needed to set up a data base to be able to do this. I am of course no expert but on all the letters we had around PPI it stated on the documents how much was tax, interest and what how much PPI was paid.Grants had all these papers and I guess there is already a system set up to the pay the creditors because of the IVA payments that were set up to pay them each month. I would really appreciate your help in investigating this matter if you could, I think it must be stalling tactics as I haven't heard of anyone who had their IVA with Grants getting the 8% interest yet. Thanks
