Hi, My IVA company are holding a cheque, and have so for almost a year, The cheque is worth in excess of £15000 which is the amount of the original IVA. The cheque came from a PPI reclaim from Lloyds who took 12 months to actually get the cheque to my IVA company. My IVA say they never received the original cheque and Lloyds took 12 months to realise that the cheque had not been cleared.
This cheque paid into my account would almost clear the outstanding debts. The IVA has failed but not until the IVA company had the cheque around the same time they received a much smaller cheque which was applied to my account and the larger one was not they failed the IVA regardless and now in spite of several emails which take them at least 2 weeks to answer the last one has been nearly 2 months.
I am fed up with writing the different people and nobody seems to want to help including the PM and the Fraud squad.
The PPI is usually an asset of the IVA in addition to any monthly payments. If the IVA failed it is possible that the funds may still be due to the creditors but it is also possible that the 'trust' was severed. You may need to take legal advice if you are not getting satisfaction from the IP firm.
