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Peter.j
- Posts: 4
- Joined: Sat Jul 19, 2014 7:12 am
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
- Posts: 445
- Joined: Sat Sep 15, 2012 2:19 pm
- Location: United Kingdom
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
- Posts: 14596
- Joined: Thu Mar 29, 2007 12:21 pm
- Location:
Hi
Radish is correct, it will be seen as a windfall and payable into your IVA
Regards
Andam Davies
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Foggy
- Posts: 33396
- Joined: Fri Dec 17, 2010 11:14 am
- Location: United Kingdom
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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