I successfully completed my IVA in 2010
I have recently made a PPI claim against Lloyds TSB and they have upheld my claim [:)]
However they are saying that I have an open account in arrears and that the amount I would receive is minus this figure.
I thought that since this loan was part of the original IVA completed in 2010 there was no open loan account.
Does anyone know where I stand with this?
I would agree with you that if the loan that Lloyds is refering to was part of the original IVA then they should have no claim on your PPI monies . Hopefully an expert will be along soon to advise further
Lloyds will set off what they believe you owe them, even though your IVA is over and completed you do still technically owe them a wedge of money that I assume they wrote off you debt. Good luck with trying to get the full amount as Lloyds will set off PPI monies against you.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
Lloyds may have the right to set-off this amount, at the end of the day it really does depend upon the terms of your contract with Lloyds, and also the terms and conditions of the IVA. If you are in any doubt as to whether this is being handled correctly, I would seek legal advice or refer the matter to the Financial Ombudsman to rule on.
thanks guys
Rang Lloyds today and they have advised that since the IVA settled the loan in 2010 I am entitled to the full refund it was a clerical error and they had not updated the loan as settled when my IVA finished )
Good for you zeb1104 - and a good precedent set for anyone else facing the same issue with Lloyds. If Lloyds had sold the debt on, then it would have been sold with whatever rights the original creditor had.
Thanks Melanie I thought I might have a battle on my hands after reading some of the posts on here.
They said that they were giving me the option to repay the debt in full. I asked what the consequences were of not doing so and was told none as the debt is more than 6 years old it is not on my credit file and is classed as settled by the IVA so wouldnt be pursued. I guess it depends on individual circumstances on what stage everyone is at in the process...
I have also had successful claims with Barclays & Tesco
Would you still be able to make a claim such as this, and retain the proceeds, if you had agreed to say the MVM proposals as prepared by GT whereby you are giving them an irrevocable right to claim PPI etc after the IVA is finalised and CC has been issued??
