i had a ppi claim upheld in june2015 with Barclaycard because of the time it has taken for them to pay this they increased the claim by way of £1600 as this was outside the lifetime of the iva are grant thornton entitled to keep all of it or a percentage of that extra interest and also are grant thornton supposed to give me a breakdown of where this ppi claim money has gone and what fees they have charged although I have a letter of satisfaction saying that my commitment to my creditors has been fulfilled
Hi Barry.90 i am sorry no one has got back to you on this yet I am also with grant Thornton but I have been told by grant Thornton yesterday that I will get statutory interest you need to contact grant Thornton and find out.
Last payment made August 2012 Certificate of Completion recieved 15th of Novenber 2013.
As your with grant thornton you may get some statutory interest from the ppi when you contact grant thornton ask them for a break down on the ppi money.
Last payment made August 2012 Certificate of Completion recieved 15th of Novenber 2013.
Hi Barry you are entitled to ask for a copy of the final report to creditors from GT which should include details of the PPI Refund. Although the IVA might have finished the 'additional' PPI refund will no doubt still all be due to GT but it sounds like you might be able to claw back the interest element. Suggest you send a written request to GT asking for the info you want.
I would like to add to this topic as I have a very similar situation.
I completed my IVA over five years ago.
I recently made a PPI claim against Barclay's for a loan that was incorporated into my IVA. The appeal was upheld, but Barclays have refused to send me the cheque, insisting that I am still in an IVA and that they will be making out and sending the cheque to my previous IP. The letter they wrote me, also stated that even if my IP had no interest in the claim, that I should contact another debt collection company who picked up the Barclays debt, before being integrated into my IVA.
I emailed my previous IP and received a reply. The first reply was as follows: “I wish to confirm that your IVA did indeed closed on 23/03/2010 and we have no interest in any PPI claims which would be due to yourself as a result. If Barclaycard believe you are still subject to an IVA then they would need to explain to you why they are of this belief.
I would also like to confirm that if they contact our office on this issue they will be told the same and I will instruct our PPI team to return any correspondence they send to us with the instruction to liaise with yourself or your nominated third party.”
I wrote to my previous IP again to ask for confirmation that, as I had completed my IVA, that I owed no further money to any of my creditors, particularly the debt recovery referred to by Barclays.
My previous IP has replied with the following statement: "Unfortunately at this time I cannot confirm that we would have no interest in any PPI award that may be due to you and we will not be able to confirm the same until around January 2016 as we are currently awaiting the outcome of a court case in relation to the same."
My question is: As I successfully completed my IVA over 5 years ago can they still ask me for more money? I thought that completion of an IVA meant a full and final settlement for ALL creditors!
The trust created by the IVA arrangement survives the completion of the IVA and any PPI is, currently, viewed as an asset of that trust.
There is a court ruling under appeal that states that any PPI unaccounted for once the completion certificate is issued falls outside of that trust and can be retained by the debtor. Your IP is waiting to see what that final ruling will be.
Some firms are rushing to tie former clients into arrangements designed to circumvent any ruling which does not go in their favour, but have no right or power to do so.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Be aware GT will take charges etc out if any interest element before passing it onto you , most people are getting approx. 39% of it due to the additional charges
If life is what you make it, I must have been in a strange mood when I made mine
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Foggy
The trust created by the IVA arrangement survives the completion of the IVA and any PPI is, currently, viewed as an asset of that trust.
There is a court ruling under appeal that states that any PPI unaccounted for once the completion certificate is issued falls outside of that trust and can be retained by the debtor. Your IP is waiting to see what that final ruling will be.
Some firms are rushing to tie former clients into arrangements designed to circumvent any ruling which does not go in their favour, but have no right or power to do so.
The court case is still on going in the court of appeal and is due to heard sometime this year.
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
The case is scheduled for May and not January and may not even have anything to do what your IP is saying. In the Sunday Times at the weekend an ex client of DFD was repaid over £15k PPI despite having an IVA that closed in 2011 so mdemand the money from your former IP.
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.
I don't have a link but I read it and have the article in the office. It was under questions of cash in the 'Money' section so anyone with Times online may have it.
