Here is what I would send to the bank and IVA firm.
Dear Sir/Madam.
Date : xx/yy/zz
Your ref: abc123
I refer to your communication of xx/yy/zz. In your letter you have advised that a PPI settlement of £xxxxx from your firm is due for payment. You have further advised that you will be sending this payment to <firm name> as the claim is subject to an Individual voluntary arrangement (IVA).
Please find attached my certificate of completion which confirms that my IVA completed on xx/yy/zz and I am no longer bound by the obligations of the IVA. Furthermore there is no deed of assignment or any other agreement in place which agrees any subsequent PPI settlements post completion will be sent to the insolvency practioner who supervised my previous IVA.
I refer you to current case law as heard in the high court, green V Wright - Neutral Citation Number: [2015] EWHC 993 (Ch) Case No: M14C358, the transcript is available here
http://www.bailii.org/ew/cases/EWHC/Ch/2015/993.html
Whilst I understand the defendants do intend to appeal the current high court decision this may take many years (or may not even happen) and current law confirms that as
the party who was subject to the IVA no longer has any further obligations under the IVA any PPI settlements should be paid direct to the claimant, in this case myself.
I would appreciate if you would send me written confirmation that you you have understood the above and will be sending this settlement of PPI direct to myself and not to my previous IVA supervisor who no longer has any claims over these monies.
Kind regards.....
Letter to IVA firm......
Dear Sir/Madam.
Sate xx/yy/zz
Your ref: abc123
I have been advised that you been haven sent PPI settlements in my name. These settlements were sent after my IVA completion date of xx/yy/zz.
Please find attached my certificate of completion which confirms that my IVA completed on xx/yy/zz and I am no longer bound by the obligations of the IVA. Furthermore there is no deed of assignment or any other agreement in place which agrees any subsequent PPI settlements post completion will be sent to the insolvency practioner who supervised my previous IVA.
I refer you to current case law as heard in the high court, green V Wright - Neutral Citation Number: [2015] EWHC 993 (Ch) Case No: M14C358, the transcript is available here
http://www.bailii.org/ew/cases/EWHC/Ch/2015/993.html
Whilst I understand the defendants do intend to appeal the current high court decision this may take many years (or may not even happen) and current law confirms that as
the party who was subject to the IVA no longer has any further obligations under the IVA any PPI settlements should be paid direct to the claimant, in this case myself.
I would appreciate of you would send me written confirmation that you have understood the above and will be sending this settlement of PPI direct to myself without any fees deducted.
Kind regards.....
Bla bla bla
But your own legal advice is probably worth it to confirm if they could claw back in the future ,I personally doubt they could, that would be akin to someone getting a divorce settlement and then the law changing 2 years later to say well erm 50-50 on everything is now 60-40 and were going to review all previous divorce settlements ! What you might find is the firms just drag their heels instead waiting for the settlement. In which case you could add that any delays in payment will be charged 8% per annum from the date of this letter [:D] in any subsequent claim.[}:)] send by recorded delivery, or indeed have a solicitor draft it for you if they don't play ball.
