Does PPI interest go to IVA claimant ?

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Claire.c

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Post by Claire.c » Fri Apr 24, 2015 5:12 pm
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When a PPI claim has come to fruition and there is an 8% rate of interest on the claim, does the interest come to the IVA claimant?
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Foggy

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Post by Foggy » Fri Apr 24, 2015 5:17 pm
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Not in all (not in many) cases. It all depends on the discretion of the IP and any documents you might have signed in this regard, but the majority of IP's take the lot, interest and all.
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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Michael Peoples

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Post by Michael Peoples » Mon Apr 27, 2015 9:07 am
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There is tax to pay on the interest element so this may be rebated to you or the IP will resolve this themselves.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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