Well I am sure everyone has been harassed by every means by PPI companies. However my IVA company Cleardebt have beaten them all. Let me quote from there webpage:
"It is the opinion of your Supervisor that the use of a professional organisation will increase returns for your IVA estate and will ensure that all claims are investigated rigorously. Without a neutral party with the authority and infrastructure to be able to sufficiently report and approach creditors, I can never be certain that assets have been fully recovered." and "To assist ClearDebt with this investigation your Supervisor has enlisted the services of DRSP, a professional claims management company who will thoroughly examine all possibilities that mis-selling has occurred and where it has, to ensure that the claim is maximised and realised for the benefit of the creditors within the IVA estate.
DRSP is the appointed agent of your Supervisor, you must assist them in their investigation." and of course you are threatened with your IVA failing if you do not comply. Well what really narks me is that"
Your Supervisor has agreed to pay DRSP a fee of 33.95%".....which seemed very excessive to me, so lets go to companies house and see who the company is....same address as Cleardebt,ok so maybe they moved in to cut down on courier costs, the CEO is a lady called ELIZABETH JOANNE ROBINSON, but surely this cannot be the same as the Elizabeth Robinson PA to David Mond at Hodgsons (CEO of Cleardebt). Well in fact is/was as she left cleardebt as his PA to CEO of DRSP. My question then how can an IVA company manipulate itself to enforce an inhouse created PPI company, therefore ensuring income from a cornered/captured IVA customer base. It sucks, and it should not be allowed. Monopoly.
Very interesting indeed. Something which was feared from the start of this ppi nonsense was iva firms taking advantage by using sister companies to soak up more cash!! All while holding a gun to the head of the client, resist and we will force bankruptcy etc etc.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
To be fair to Cleardebt, I dont think they ever really tried to hid the fact that it was a sister company.
For debtors like myself who have to go through this hassle with one claims company, perhaps the close relationship between the company may ease and hurry things through.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by mole
To be fair to Cleardebt, I dont think they ever really tried to hid the fact that it was a sister company.
For debtors like myself who have to go through this hassle with one claims company, perhaps the close relationship between the company may ease and hurry things through.
Agree, however they have removed choice, and their charges are excessive.
David Mond categorically stated on the forum last week that there was no association between ClearDebt and DRSP - but I am sending him this post so that he can hopefully come on line and assure interested parties of the exact position.
As a point of principle, there is absolutely nothing wrong in an associated company handling the PPI claims - I myself have such a company, we are fully MOJ Licensed and members of a respected trade association, and because I know my clients and their cases it makes the process a lot slicker and cheaper than going to an external company. My clients prefer this, but of course they are fully aware of the association - and are free to appoint their own specialist if they deem this to be in their and creditor's best interests.
Last edited by MelanieGiles on Thu May 02, 2013 3:15 am, edited 1 time in total.
If that is directed at me, then can I just say that none of my businesses are geared in such way. I simply believe that I, and my claims management team, are best placed to handle the claims of our own clients.
ITS NOT DIRECTED AT YOU MEL.
I know you give clients a choice of how to go about claiming back ppi.you either let them claim there own back or you offer to do it for them.the threatning way cleardebt say your iva will fail if you don't use there company is a different ball game.i still stand by my statemewnt where tha scenario is concerned.
cc received 6th January 2014 now upwards and onwards
I must agree that a sister, or in house PPI claims team / company is far better, as the IP retains control (which is 90% of the problem elsewhere). I also agree that, between, them, they should have two bites at the fees cherry. After all, PPI claims management is extra work, over and above that which was envisaged at the start of the process. However, I do feel that the claims management fee should be in line with those agreed with the creditors as Supervisors fee, and, maybe, capped at 15%.
In this manner, debtors get a slicker service, with easier lines of communication and creditors get slightly more of the PPI pie.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I can't say that I feel comfortable with this ongoing PPI/IVA fiasco and the above is not going to make me or many others feel any better about it.
As I have said in the past my belief is that the driving factor behind this is bottom line profit for companies concerned rather than for the "benefit of the creditors within the IVA estate"
Has anyone who has an IVA with CCCS/Stepchange had the same experience with regard to PPI claims ?
Andy, I am with Stepchange (CCCSVA) and, up to now, have just been left to handling the one PPI I had myself and just keep them informed.
I have paid the PPI cashback to them last year and am currently, dealing with the claim for interest regarding the PPI from Barclays and have given Barclays the choice of paying the IP direct or sending me the cheque to be banked then forwarded onto Stepchange.
Last edited by FormerlyST1100 on Thu May 02, 2013 12:04 pm, edited 1 time in total.
At the start of my IVA I knew the cashback bit was going to be paid to me and informed CCCSVA of that so they just left it at that and waited until I received it and paid it over to them.
I realised, last year, I was going to get an amount from a Life Insurance (10 year) policy, so informed them of that, which I have just received a couple of days ago, due to be paid over to them once it has cleared, etc.
The "interest" bit I was just informed of by Barclays few weeks ago that there may be extra due to me as the PPI had been loaded onto the loan at the beginning and I had not been informed that I was paying interest on that for the life of the loan.
CCCSVA did not ask anything at all about them needing to investigate PPI's but I know I only had one anyway and thought it was already coverd by the cashback bit. From memory, I think CCCSVA may have included a couple of lines in a letter saying if I had any PPI's just to let them know, but not sertain on that. They certainly do not seem to be pressurising the way others seem to be doing.
I have been having trouble accessing the Forum but have now managed to.
To repeat my comment from a thread over 3 months ago:
“There is no affiliation between ClearDebt and DRSP. The truth is that most companies working within the Debt Management and Claims Management arena are former employees of other companies within the industry – it is where they learn their trade. I would say fairly confidently that in over 42 years in the industry I have worked with most directors within the industry through any one of the companies, trade associations and regulating bodies I am involved with.”
There is no link between ClearDebt and DRSP save for them being the Claims Management Company I have chosen to process claims on behalf of ClearDebt’s IVA estate.
With regard to the fee charged by DRSP, this is typical of the industry and includes VAT. I believe it is actually less than the majority of companies charge for submitting claims within IVAs due to the highly specialised nature of these claims and the legalities involved when dealing with a variety of different proposals and conditions. In fact the fee is significantly less than the company who has processed the majority of claims within the industry.
My firm belief is that this forum was designed to be a place for individuals within IVAs (or considering entering into IVAs) to ask questions or seek advice on technical issues within the realm of insolvency. More frequently it seems to have become more acceptable to state unfounded, libellous allegations as fact either as an attempt to discredit and/or coerce a Supervisor into changing their mind or due to being ill informed as a result of not approaching their own Supervisor in the first instance.
I sincerely hope that these types of threads and some of the comments that follow will soon become a thing of the past but somehow I doubt it.
David Mond
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
David the forum is to help the average Mr/Mrs Joe Public better understand the complexities and frustrations of this industry. You are big enough to look after yourself on this forum as are other professional posters.
The clear facts are that PPI claims and the surrounding fiasco of delayed completion certificates have nearly overtaken this forum such is the frustration,anger and bewilderment of many.
Thank god they have an arena to voice their questions and concerns
