I have been offered PPI from a bank but in the agreement letter it states they will pay my monies into my
IVA practitioners account
which i have to sign and so does the IVA practitioner.
the thing is my IVA completed 3 years ago.
is this a mistake on the banks behalf as they must know i had a IVA due to being in debt with them.
i have been asked to produce the Discharge Document and also a Letter of no further Interest.
i only have the Discharge letter what is this other Letter?
You need to speak to your former IP and have a copy of the completion letter, also, I imagine, a letter saying they have no interest in the PPI.
I rather think it will go to the IVA though as it was an asset.
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
Whether your former IP will have an interest will depend upon the amounts involved -- it will often cost more to dig out your files and distribute monies that the refund actually amounts to.
Technically, as things stand, PPI does belong to the IVA, pending the outcome of a case in the court of appeal.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thanks Guys sorry I did have trouble logging in at first .
. I wanted to add this.
This is closing notes of my notice of completion.
The Debtor has fully complied with there obligations under the IVA, however following the variation approved by creditors on 30th Nov 2012 the supervisor has retained power to deal with any VAT recovery and any PENDING PPI claims post closure.
Now my claim was rejected by HSBC when I initially challenged them which was also after my IVA finished . Yet I decided to go via the Ombudsman who after a long time found they did in fact owe PPI .
I was thinking maybe the keyword in the closing notes is the word pending as I didn't have any pending Ppi investigation at that time.
Also what happens if I keep rejecting offers
