Ditto Heretoday - seems we are at the mercy of the IP and every 'ambulance chaser' they care to 'introduce' us to for as long as they choose.
Whereas I know I was never mis-sold PPI - I'm not so sure about a never ending IVA.
I really expected it to be over by now (67months) and my name coming off the Insolvency Register - it makes me nervous in my job search - and it's what I signed up believing would happen. I really struggled to make payments each month.
I still don't understand why PPI and bank charge reclaims have never been considered at annual reviews - the process is not new - and why the IP wouldn't look at the fee breakdown on each creditors claim as part of the acceptance process of including them in the IVA. Isn't managing the IVA why they take 25% of the funding 'pot'.
It is all about milking the old cow dry before sending it off to the knackers yard.(to use a topical analogy)
The ability to claim mis-sold PPI has not been available until quite recently. IPs have not created this drama of mis-sold products, the lenders themselves have. I am sure most of us would be happy if PPI had never existed, however we have a job to do and it is pretty tedious to keep being criticised for doing that job. If you weren't sold any PPI then I don't see why there is a problem in closing your case, however.
There has to be something put in place by all ips that if you do not feel you have been mis sold you do not claim. However not claiming can cause more hassle in my case than in claiming. An iva is for 5 years and sometimes extended. It shouldn't be for longer due to ppi and if its a case of ppi why should people have to wait longer to have their names off the insolvency register? Doesn't seem fair to me. Br seems a better route than an iva with all this ppi madness in some cases.
The problem is Gina, that people do forget whether they have taken out PPI on earlier loans, or often don't realise that it was included in the small print. In such case we have to scatter the net far and wide to ensure that no stone is left unturned. To speed things up, I would strongly urge all people affected by this to co-operate with their IPs, produce the information as soon as they can which is asked for, and bear with the process. It is not going to go away I am afraid, and I hope someone is keeping statistics to see what the net effect of all of this is at the end of the day - which I very much doubt will be happening!
I think sometimes that's the case mel but sometimes people go over everything they sign with a fine tooth comb but yes I am thiking now just do it and save yourself the trouble. The forms do need altering assome are sign to say you have been mis sold. That sounds like fraud if you don't think you have. Maybe it should all be worded differently?
I definately concur that people should read what they are intending to sign thoroughly before they do so. And claims should only be made for mis-sold policies where they genuinely were unwanted or forced upon them.
If everybody just says they wenre not mis sold PPI then there would be no hold ups
Any PPI money claimed is paid from the bannks who then get it back VIA the IVA
Or anybody who is in an IVA should not be allowed to claim PPI as the banks have allowed them to enter an IVA so thats like saying thank you to the Bank for allowing you to pay back a lot less and then asking for a further handout
Hi Lou
Sadly not that simple. There is potentially commission to be made for the company 'introduced' to persue these claims. I've read on here of IP threatening to fail an IVA if we are considered to be hindering their collection of money by not working with these claim chasers
I for one would be horrified and distraught if my IVA was failed after my creditors accepted a F&F settlement in February
It is a mess and particularly so for those thousands of people who did manage to struggle to the end of their IVA and thought it was over
Many at great personal and emotional expense who now feel betrayed and vulnerable
Last edited by allancsn on Wed Jul 25, 2012 10:52 pm, edited 1 time in total.
