BOL, the OP has completed their IVA with a F&F using funds submitted by their parents. This is why they wanted to keep some of the PPI to pay towards what they owe their parents, instead of the creditors using it to offset any write off. Or at least that is my understanding. Stand to be corrected of course.
Sorry I am confused Brooke of London, we are not in an IVA anymore.
I do wish we had done the claims now before my parents offer but we didn't even know we were paying PPI for one of them until they told us we had been mis-sold. My parents wouldn't have had to pay so much as it was everything that they had.
The bank wins again. The amount of money we were paying in PPI each month makes me sick, we were trying so hard to clear the debt ourselves but were not getting anyway, we would have been taking nice chunks off if a huge proportion hadn't have been going to PPI each month.
Out of interest why is that other websites from debt experts say that after completion of an IVA the PPI money is your money and that creditors will try and get out of paying you but as long as you have your completion certificate then it is your money. I have also read that on this website. Very confused!
This is an ever changing screnario and is being interpreted differently by different IPs. One site that has specifically said in the past that it is all yours after that certificate is in your hands has started doing a slight turn about and is now saying to check with your own IP.
These things will never be written in stone until tested in court -- and I doubt there are many ex iva'ers in a position to challnege legally, with the risk of enormous costs involved.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
You may need to take legal advice and challenge the status quo but legal costs could easily wipe out the value of your claim.
Not having the money doesn't affect the repayment plan you originally agreed with your parents so they don't lose out in the long run. I do understand it must be disappointing if you believe you are entitled to the money as it seems like its slipping through your fingers and we go without for so long in an iva.
If your claim is for more than was written off, the balance may be yours to keep.
Eif said to us. When you get your completion certificate come back to us . We will hold your case on file. If you go ahead after completion the monies will all be sent to you! This was after we said we do not have any ppi for the 5th time. They reckon it can be hidden somewhere so you don't know you have signed for it. Needless to say we said no thanks
So what will happen the people who have an IP that says the money is theirs to keep after their IVA is completed? I thought it would have to be standardised. You can't have one IP letting people keep it and others not. Also what about the people sent the cheque directly?
That's nice and legit! You should let your IP know that the claims firm with seemingly the biggest book in the insolvency sector is willing to defraud creditors!
