I wonder if any Insolvency Practitioner or Expert would provide clarity on the following:
I completed my IVA in 2011 after paying for 72 months which included an additional 12 months in lieu of my equity. To date have been unable to claim for the mis-selling of PPI. This is due to the fact that the banks that I applied to have both said that the IVA Supervisor retains interest and that any monies compensated would be paid to him for the benefit of the creditors in the IVA.
I have now come across a High Court Ruling that took place in the Manchester High Court on 9 February 2015 which ruled in favour of a past IVA holder – If I am reading this correctly this now allows me to proceed with a claim and that if I am awarded compensation that money will be paid to me instead of the IVA Supervisor.
The link below refers to the details of the case and the judgement and is provided by the Solicitor acting for the IVA holder.
I would be grateful for expert opinion on this issue advising if I am safe making a claim. The PPI that I wish to claim about refers to one debt that was consolidated and paid off before the IVA commenced as well as a credit card that was included in the IVA.
If PPI was never a consideration in your IVA i.e. the question was never asked, no ivestigations took place and there is nothing in your final documentation retaining an interest in PPI then it probably should be paid to you.
I know the opinion of one of the IVA professionals on the board is that this will not set too much of a precedent.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
The IP involved in the case cited has sought leave to appeal and so, with that pending, no precedent will be as yet set or followed. Any claim relying on this case will, in all probability, be held in abeyance until such time as there is a firm precedent to follow.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Interesting that it has already gone from County Court to High Court and both have said the same thing.
What I would say is that if the banks themselves are saying this should go the IP then you are not likely to get anywhere.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
if all ppi claims were carried out by iva then what happens if you have one after completion as the iva company has done the job of claiming so surely if you fecieve one after the completion certificate has been issued the it was the ip at fault not the debtor
My thoughts on the matter are that the IP has at LEAST five years to investigate any PPI owed and if they can't/haven't/won't then once the CC is issued that is the end of the matter (and obligation).
Five years is enough time to go digging imo. Once I have my CC I'm done and moving on up the road.
