finished iva 11th june 2015 completion certificate sent,12th june 2015 received letter from Barclaycard upholding my ppi claim done via slater Hayward law Barclaycard said they would send the cheque to slater Hayward for them to take their fees and forward me the balance however grant thornton say that the money should be sent to them where they will pay me interest accrued and pay the rest to the ex creditors what I want to know is when I have kept my side of the agreement do they want to send further monies to accounts that are according to their completion certificate closed
The accounts might be closed, but the PPI existed as a potential asset during the life of the IVA. As such it is still an asset to be paid over once realised. To be fair, GT are being generous in allowing you to have the interest .. not all do this... indeed GT kept all of my interest (over £1000).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
My husband had his CC but the company can still claim any PPI and it is stated on the letter.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
just out of interest how long would the ppi be seen as an asset of an iva? is there a time limit ie 10/20 years etc for this type of thing as it seems the iva although closed is still in effect alaways open to funds from those 5 years it was in operation during them .where would there be a cut off point if any ? just wondering . has anyone ever thought about that?
There is no cut off point as things stand at the moment. If you have assigned the PPI it would be forever, if not, whatever happens with the current court case on the matter will influence matters.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
thx foggy
its just I was curious as how things would proceed with this issue .other things such as housing equity are only used for the lifetime of the iva and once you have completed then equity plays no further part aftr the iva has completed . I would have thought that this would be seen as an assetof an iva as it existed before the iva started so any profit/equity would always be required until 100% plus fees paid back as per ppi monies . strange that there is a rule for some assets stop with an extension yet ppi is on a long never ending road with no end ps I hae no claims to make but its just a thought about how the way different ways things are treated with the iva process
Although IP's have not helped themselves the banks etc. have ensured that this drags on because of poor decisions they made.
If a CC was issued 3 more than 3 years ago and PPI was never mentioned or referenced in the IVA or was attempted to be reclaimed it is likely that you could keep it.
However banks are being risk adverse and sending payments to the IP's to let them sort out the mess.
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.
