Do we gain the interest on PPI ?

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Anthony.t

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Post by Anthony.t » Thu Jul 14, 2016 11:38 pm
Can anyone help. Ppi came through its a joint iva . Do we gain the interest and compensatory interest the have added to the payback . Iva will be getting the Ppi payback sent to them through a company they asked us to use and we did. Aperture we are with
 
 

kallis3

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Post by kallis3 » Fri Jul 15, 2016 8:49 am
Hi and welcome,

Firstly it will be an interlocking IVA and secondly some companies will let you keep some of the PPI, others don't.
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
 
 

Lisa Thomas

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Post by Lisa Thomas » Fri Jul 15, 2016 9:26 am
Check your proposals - the PPI and interest will almost definitely have to be paid into the IVA as an asset of the estate.
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

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Post by Foggy » Fri Jul 15, 2016 10:41 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
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