We completed our IVA in September of this year and just waiting on PPI to be finalised so can receive compliance certificate.
I noticed on one of the posts regarding PPI that £499 can be kept from any amount paid out due to the windfall clause, is this correct or does it depend on the IP that you are with?
Hi. It depends entirely upon who you are with. In reality all of the PPI refund is due to the IVA. However, in the early days, some IPs offered "carrots" for co-operation with the investigations.
Some offered the first £499, some offered the interest element. Most offered nothing at all. To further complicate matters, many that did offer an incentive have since withdrawn that offer!
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014