During my IVA I was asked to claim for any PPI's I may have had. My IVA was completed in November 2014 and we received a PPI claim cheque in May 2015 which we could not cash. We contacted the bank who sent this to us and they are now sending it to the company we had the IVA with and we have been told we will not get the money. I just want to understand if this is correct as my understanding was the IVA was completed and they would not take any more money. Please can you advise.
This is generally correct that it goes to the iva company.
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.
It would depend upon how keen to get the money the IP was, Mrs R. There is the possibility for suing for breach of contract at one level, or fraud at another (denying the creditors funds pledged to them under the Insolvency Regulations is looked on seriously). In the past there have been jail sentences passed out for similar things.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I would guess that had Caz been able to cash the cheque then it would have happened as it seems like she tried. Unfortunately when people have been insolvent and the creditor knows about this they will make the cheque payable to 'The Trustee of' and in these cases the cheques cannot be cashed.
If the creditor does not know about the IVA and sends a cheque out to the debtor in their name after completion then I would assume most are cashed and no one ever finds out about it.
