we are in our 4th year and have been sent the new DFD terms, ( which we are not going to sign). We have no PPI whatsoever for EIF to claim for, even though they have sent us multiple letters asking us to confirm this. My question is, is there anything we can do to help speed up the completion process, if EIF are insisting on chasing non existent PPI? I hope that makes sense.
It is all very frustrating but you have done the correct thing in signing and returning the forms, hopefully all claims will be sorted before the end of your final year and so will not delay completion
Many people think they do not have PPI but it is surprising how many turn out to have PPI included without their knowledge, hence the blanket approach to making claims
Hello and welcome. One thing I would say about non-existant PPI: I swore black and blue that I never had PPI to claim. Well before my IVA I had discovered some and claimed it myself (and used it to reduce the balance on the relevant loan), so I was pretty sure there was none.
They discovered over £8000 from an old loan that had been sneakily rolled into a new loan with the same company (so no reference on the new loan to any PPI)!
I have serious doubts about DFS's attempts to introduce new terms, however, I would say to let them at least research the PPI position --- if there is none and they want to waste their time .. so be it (which is what I said in my case!!! ).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I personally wrote to all the banks/loans/credit cards that I ever had about the PPI's. All of them wrote back and paid me where applicable - and I paid my IP. Where there was no PPI, they put this in writting. I photocpied all the letters and posted them to my IP with a covering letter expaining (with proof) that I have gone through all the PPI. By doing it myself I saved £1.500 which would have been taken by the company - this is extra in the pot. But to cut a long story short I expect my certificute quicker after all the hard work I put in on their behalf.
Caliduk81 says they are not going to sign the forms Andy.
If your IP is doing their job properly, they will have instructed their chosen claims management company to fully investigate all of your current and historic credit accounts to see if any PPI was taken out. This might have been without your full knowledge, or cover may have been sold which was inappropriate for you.
As you are in your 4th year, the time is right to allow this to happen now, so that there is plenty of time before your IVA is due to conclude to get this carried out an a line drawn under it. Your IP is not doubting what you are saying, but they simply have a job to do at the end of the day.
I too was adamant I had no PPI and thought 'let them waste their time'. We have so far had nearly £12000 back and still more cases to investigate! Egg seem to be the biggest culprits! As I would never have chased PPI myself as I never thought we had it I am more than happy for it to go into the pot.
EIF do send duplicate forms all the time but we just sign them and send them back! Let them investigate, If you never thought you had PPI and it turns out you did then you are not losing out on anything as you would probably never have claimed it. It's all money into your pot pushing up the pence in the pound you pay back!!
at least we are living and not just existing...
Last payment left account 10th March 2014
IVA finished on the 25th March 2014
Thank you for all your replies, we are doing everything that DFD and EIF have asked us too, with regards to signing forms, (except the new t and cs) just querying as we feel that they have had 4 years so far to chase the PPI, and as most of the debt was credit cards, why does it take so long?
Can I just ask when "historic" potential PPI claims came into being please? I had always assumed that PPI claims were on the PPI paid (or not) on cards and or loans associated with your IVA, not trawling through 10,20 or more years of your past. At this moment in time I honestly wish I had just gone bankrupt instead of doing the right thing...
The right to the reclaim comes from the time the product was inappropriately sold to you - and so debts which were repaid prior to you entering into the IVA do also need to be checked out.
It is a shame that the annoyance of having to co-operate with this process is making you thing you made an inappropriate choice to enter into the IVA in the first place.
The PPI issues, although frustrating in the extreme (and I have vented enough spleen over them)cannot negate the reasons we went into IVAs initially, nor the, eventual, positive outcomes.
PPI will soon be a thing of the past. I know other spanners will most likely appear -- that is life. But. on the whole, as long as you thoroughly understand what you are getting into at the start and are sure it is the right course, go for it.
Keep the lines of communication open with your IP and do not be afraid to challenge anything that concerns you .... your IP might be right, but at least you will know why
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
The iva lot don't tell you that they will want to dig into ppi or ppi going back years when you are first going through the process of it all.
For me it's the principle of being told that "once you're iva is completed" it's over- but it isn't is it? I can say post iva it's not over.
It doesn't feel fair.
What is the point of being bound to a legal agreement thinking that you are doing the right thing ,sticking it out for 5 years & then finding out that because of ppi issues there is no time limit on being free from the iva.
IVA COMPLETED & CLEAN CREDIT FILE.
An old bible proverb says this: the rich one rules the poor, and the borrower is a slave to the lender.
Your former IP may not have advised you of the process hair_bobbles, but other practitioners, including myself, always make sure this is fully explained. It would not be correct to give the same impression about all firms to other posters.
Chasing the PPI refunds yourself may not be as easy as it seem, and some creditors may take advantage of people doing this without the benefit of specialist help. And not all claims management firms charge 30% either.
How is it though that EIF have decided that all PPI has been missold, what happens if it wasn't and hypothetically we intentionally took it it out on loans? What happens then?
