What happens to the interest on PPI ?

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geoff.b

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Post by geoff.b » Sat Aug 23, 2014 10:26 am
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ive paid quite alot into my iva through ppi,s. my iva finished in feb ive not received the completion certificate yet.my question concerns the interest on the ppi,s what happens to it please?
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Foggy

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Post by Foggy » Sat Aug 23, 2014 11:43 am
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Although the approach should be standard, different IP's are treating PPI and interest differently. Only your own IP can say what he / she does in this regard.
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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Michael Peoples

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Post by Michael Peoples » Sun Aug 24, 2014 12:05 am
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The interest is taxable so if not already deducted at source there may be a payment due to HMRC. As Foggy says you need to check with your own IP.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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