IVA and PPI with Aperture. What happens with the interest on the refund ?

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1
 
 

Anthony.11

User avatar
Posts: 6
Joined: Wed Nov 21, 2012 8:22 pm

Post by Anthony.11 » Thu Jul 14, 2016 11:29 pm
Iva and Ppi with Aperture. We were asked to send forms off through slater Hayward . And there is a refund on a Ppi . Question is the interest and compensatory interest coming our way . The refund will be sent off to iva. Just what happens with the interest on the refund
 
 

Starry30

User avatar
Posts: 98
Joined: Sat Feb 20, 2016 2:46 pm
Location: United Kingdom

Post by Starry30 » Fri Jul 15, 2016 12:06 am
Hi, we are with aperture and I've just been awarded £2598 and it went to aperture for my remaining money I owe and pay the company who found it also I received my £500 as per my contract as I've come from cleardebt and do not know what clauses aperture have from the offset and if they do the £500 goodwill gesture. Hope this has helped a little but I'm sure others will have more info for you
 
 

Lisa Thomas

User avatar
Industry Expert
Posts: 7759
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Fri Jul 15, 2016 9:22 am
It will likely still be due into the IVA estate unless you had a clause in your IVA stating you could keep some of the PPI compensation, which would be a little unusual.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Fri Jul 15, 2016 10:46 am
In the early days of PPI refunds, some IP's allowed clients to retain £500, some allowed them to retain any interest element and most changed course mid-stream ! The majority, however, take the total net refund into the IVA estate, for the benefit of creditors.

Aperture, when trading under the name of Grant Thornton, offered to return interest to clients if they signed up to new terms ( the old "spotty letters" you might find references to on the forum of old). What they do now should be somewhere in your paperwork.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”