Hi, we have just finished our iva via a f&f offer which was excepted in dec 12,and we have since received out completion certificate, at the time of our iva we had a secured loan with first plus which wasn't included in our iva but the ppi was and was paid during year 2 of the iva, since completion we have been informed by first plus that we are due the interest from our ppi payments while the loan was running, but as they have us down as still being in a iva they are telling me that the payment cheque will be made out to the iva company..i have informed first plus that the iva has finished and have emailed my completion certificate over to them, first plus then spoke to my iva company who have told them that the cheque should still be paid to them as it may have been a asset to the iva! can they do this? starting to feel like a iva is for life and not the 5 years..please advise
As the asset existed during your IVA my gut feeling is that it belongs to your various creditors, however if the IVA has been completed and final dividends paid is your IVA company really going to re open your case and distribute these new funds ? some IVA companies are allowing the debtor to retain all interest from PPI claims so in short I am not sure if there is a definitive answer for you.
anyone with First plus loans who paid PPI but were refunded the payments after 5 years, can now claim the interst back as First plus got it wrong and loaded all the loans with this
my suggestion is if they have not contacted you contact them
