Is PPI classed as additional payments ? Clause states I only need pay 50% of additional payments

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Cemal

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Joined: Sat Feb 28, 2015 1:33 pm
Post by Cemal » Sat Feb 28, 2015 1:33 pm
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i am in iva -i have paid some additional money to practioners as a form of ppi payment cheq - in one claus it says additional payments i only need to pay 50% of any additional payment - would this be classed as this payment. or what would be classed as additional payments. i have paid the normal monthly fee as well.
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Foggy

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Post by Foggy » Sat Feb 28, 2015 2:32 pm
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PPI is not an additional payment, it is classes as an after acquired asset and, as such is fully payable into the IVA.

50% of extra income is payable. 100% of windfalls over £500 and 100% of after acquired assets.
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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