I completed my IVA successfully in 2009. At the time PPI was not heard of and not an issue with the IVA. In 2013 I started some PPI Claims which I persued personnaly and not through a CLaims company. I have been successful with a Claim with HFC Bank for a credit card that was included in the IVA. However before they paid me PPI compensation, they offset the debt included in the IVA, even though the IVA was closed 4 years before I claimed. Are they legally allowed to do that? And does anyone know if this has been challenged in Court? They offset more than 5K so I am interested if anyone can comment on my position here?
HFC sold their insolvent debts to Max Recovery so I doubt if this debt even exists any more. The funds would be more likely to go to the IP than be offset and perhaps appeal to the ombudsman.
Hi Michael, I have already contacted my IP and he said that the IVA was closed 5 years ago and he has no interest in the PPI Compensation going into the IVA and any PPI compensation is mine to keep- he says the IVA is closed and he is not dealing with closed IVA's. So you are saying they have offset against a debt that no longer is theirs? How can they do that?
That is a very good question and one to ask them. If you still have a copy of the IVA final report it will list the creditors who were paid. See if HFC are even listed on there and if you cannot find the report your IP should still have it.
Thanks for that Michael and you are correct - the debt was sold on to Max Recovery in 2006. I had to go to the Ombudsman in the first place for the HFC compensation - I will go back to them and see what they think.
