I satisfied my IVA in full in March 2012. I was told that my certificate would follow within a couple of months. I was then sent a letter by my practitioners, Varden Nuttall of Bury, saying that they were claiming PPI. It was never explained to me that this would stop the certificate being issued, and therefore my wife and I show on the insolvency register! This is affecting our lives immensely and when we speak to VN they just say that they are dealing with it. This has been a nightmare and it is showing up as still in the IVA at CRA's. What can be done to get this sorted?
Hi, keep badgering explain how it's affecting your lives and see if they will issue your certificate as if you've given them permission to claim the PPI it will go into the IVA pot.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Hi Tallchris - unfortunately it is part of the process and they cannot issue your completion certificate until the PPI has been explored and any claims made. This should have been explained to you but that is in the past now. Keep chasing them to get an indication of when you can expect it to be finalised.
Hope it doesn't drag on too long for you. In what way is it affecting your lives at the present moment?
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Oh sorry Tallchris it doesn't sound positive re the completion certificate being issued before the PPI investigations are complete Do badger them though to give you a rough of idea of when.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Unfortunately the PPI investigations and complications surrounding this have taken far longer than anybody anticipated. It took our regulators until March this year to finally issue some form of guidance on this and we were advised to take legal advice.
We instructed a barrister to establish if we could complete IVA's where only the PPI is outstanding and deal with the PPI afterwards. As a result we are currently preparing to write to all clients that are in your situation to ask them to sign a deed of assignment, which will assign the PPI claims to the supervisor to allow the arrangement to be closed.
But if the PPI is not a part of the IVA, it should not be an issue should it? I have paid over £40000 in debts, actually accrued as a result of a business partner running off with all my money and leaving me with a £1500 per month mortgage and other bills to pay. I took the IVA on the basis that I did not want to lose my house, as well as my pride and dignity!
Now I am told that there was PPI and that this is going to the creditors? And also I am still on the incolvency register and my credit is affected at Experian! All I seem to get are excuses!
No, they were from loans in the IVA, but sorry I misunderstood. What I thought was being said was that the IVA could not claim the PPI, so it wasn't a part of it
Ah right -- it's a very grey area as to which IVA's can and cannot claim -- and, as yet, hasn't been tested.
An all assets IVA will capture PPI, but, even if not all assets, there is an arguement that the PPI should have been declared at the outset -- personally, I doubt that arguement would hold water -- but who among us can test it ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
My advice is to co-operate with your IP to the best of your ability, and if they/you feel there are claims to make then there is no harm in submitting them.
