What happens to the PPI refund ?

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Peter.j

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Post by Peter.j » Sat Jul 19, 2014 7:12 am
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I have had a PPI check and been successful in my claim. what happens to the claim, is it classed as a windfall or an asset?
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Radish

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Post by Radish » Sat Jul 19, 2014 9:03 am
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Hi Peter

Welcome to the forum.

Sadly it (usually) all has to be paid into the IVA pot. It is classed as a windfall. Others on here know far more then me about this.
IVA complete March 2014 after 6 years.
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Adam Davies

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Post by Adam Davies » Sat Jul 19, 2014 9:13 am
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Hi

Radish is correct, it will be seen as a windfall and payable into your IVA

Regards
Andam Davies
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Foggy

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Post by Foggy » Sat Jul 19, 2014 9:52 am
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Hi Peter. PPI refunds are actually classed as assets rather than windfalls. But this makes no difference to their fate -- they go into the IVA.

Of course, as an asset, you do not get the benefit of the £500 deminimis allowance.
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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