PPI Havoc

[Foxy81]

Hi, I should have received my completion certificate in April but due to the ongoing saga with this, it is delayed indefinitely, although I'm told only one creditor are dragging their heels finding out whether I have a claim.

My advice to people in the same boat is don't panic. It will get you nowhere. Keep in regular contact with your IP, in writing if possible, and ask them to send you a letter advising you have made all your contributions and your only remaining obligation is the co-operation with PPI.

Yes, after a stressful 5 years, it is devastating to see no light at the end of the tunnel, but you're effectively hime & dry minus some bureaucracy and who wants to dive in and start applying for credit anyway?? That's what got us here in the first place.

Good luck everyone

[Foggy]

Wise word, Foxy. However, not all IP's will absolve you from the responsibilities of the IVA between that final payment and the issue of the certificate .... many will still claim windfalls and / or inheritances.

[Foxy81]

There's nothing in the insolvency act to state they can do that. I cannot see anything in the IVA Protocol either.

You sign up for 60 months, that's what you pay, no more.

I'd like to see the IP that has the balls to fail an IVA after a debtor has paid 60 months.

And the judge who makes the call on a bankruptcy to that effect...

Stand up to these companies!

[Foggy]

I beg to differ, Foxy. You sign up for 60 PAYMENTS, then the IVA remains open for administration, during which time you are still bound by it's terms.

The regs and Protocol allow for a 6 month admin period, which is extendable under certain circumstances and during which the IVA is "Open", while it is open you are bound by it.

I agree that the extended periods should be challenged, but only if they are outwith the agreed terms -- In my case they were allowed to extend twice, on giving Notice, after the 6 month period: once for 6 months and again, if required, for 3 months.

If they had exceeded these, or not given the required Notice I would definitely have mounted a robust challenge. However, they kept within the agreement, so this never became an issue.

[Foxy81]

Yes, that's what I meant. And while there are a lot of people on here seeking reassurance, I'm not sure splitting hairs is particularly helpful.

There is no reason why some people are being made to extend their payments or still have to declare windfalls etc.

This seems to differ from IP to IP and there are many out there who are behaving unscrupulously and feeding off vulnerable people.

[Foggy]

"Yes, that's what I meant. And while there are a lot of people on here seeking reassurance, I'm not sure splitting hairs is particularly helpful."

I apologise for being not particularly helpful, and splitting hairs by pointing out the niceties of English & Contract Law!

"There is no reason why some people are being made to extend their payments or still have to declare windfalls etc."

People are NOT being made to extend payments due to PPI--- only where they have underpaid or missed payments and in accordance with the agreement they have entered into.

"This seems to differ from IP to IP and there are many out there who are behaving unscrupulously and feeding off vulnerable people."

I agree

[Foxy81]

I think you're taking it a tad personally. I was referring to the thread as a whole.

There have been many reports of malpractice by some firms documented on here that needs to be the focus.