My husband and I have received our CC, however the amount of ppi on the CC is nearly £5000 short of the actual amount reclaimed, we have been in touch with Aperture who said it was the correct amount on the CC until I sent copies of letters that proved otherwise, as ppi fees etc have already been paid as stated on the CC is this money legally ours? If so what is a reasonable timescale for it to be resolved. Many thanks
Have they used this money to pay towards your creditors? If you haven't paid back 100p in the pound plus fees then this could well be what has happened.
Hopefully someone more knowledgeable will be along to advise shortly.
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.
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Your company's payment terms with creditors could allow them a percentage of monies paid into the iva so this could explain this? This payment would be an additional deduction to the ppi reclaim company fees.
Your IP is obliged to provide you with a complete breakdown of where the receipts have been allocated.
However this pans out, any monies left will be due to your creditors, not to you, unless you have already paid the full original debt, fees and statutory interest, or signed an agreement which promised you a portion of the recovered amount.
The PPI actually paid to creditors will, of course, be the gross refund, less any claims company fees (often around 30%) and the IP's fee (usually 15% of the net refund, after the claims company fee has been deducted).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
We did sign the letters about ppi interest and have received a cheque for one of the claims, the amount was the same as the balance held on the CC, I just don't understand why the full amount of ppi reclaimed wasn't on the receipts of the CC as they were resolved at least two years before our IVA finished, if it goes to the creditors that's fine, I would just like to know where it is, I'm just nosey I guess Thanks for your replies
One of our creditors was one of the companies that PPI was claimed from and they kept it to help pay off their debt. So rather than about £12,000 being claimed and entered into the agreement (minus fees) they kept just over £9,000 from the impression I got from their letter. It was along the lines of " Thank you for your claim for PPI. It has been found you was miss sold PPI to the tune of £9000, but rather than give it to you, we are using it to help pay off your debt". Not word for word, but you get the idea. Perhaps this is what has happened and it will show a lower figure.
Thanks for your replies