Hi there - I am trying to clarify if I can claim back the PPI on my credit cards that were under an IVA arrangement which was completed with RSM Tenon back in April 2011, I understand someone made a successful claim through the courts earlier this year however I have just read somewhere that any PPI refunds would have to be made back to the IVA Organiser ? Any advise please
As with most IVA matters, there seems to be much confusion over this and many opinions. My reading of Green v Wright is that once a completion certificate is received and the IVA company close the case then the trust is finished. Unless the completion paperwork or certificate specifically add a clause to capture ppi after closure then the ppi should go to the debtor. I also don't see that it matters what protocols your IVA were under, the ruling seems to clearly say that a completion without any mention of ppi means the IVA is over. If IVA companies want to recover ppi after completion they need to put it in their completion paperwork/certificate. The completion paperwork overrides anything else you may have agreed to previously.
However, this is just my reading of the case and if truth be told none of us really know how the final appeal will go. If its fails again then the ruling will likely become law and if it succeeds well, who knows?
It's certainly worth a shot at getting ppi returned to you but I suspect a lot will depend on the banks stance on this.
My completion makes no mention of PPI but my husbands does.
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The Court hearing about PPI reverting back to debtors post issue of CC is being appealed and won't be heard until next year. If you make a successful claim you might not get the money but if you do I would suggest you don't spend it until the appeal has been heard or you might find the IP trying to claw it back form you...
I believe that in light of Green v Wright one of the biggest credit card companies are now asking that IVA providers who wish to claim post cc ppi do so in writing. Previously they simply made a brief telephone call. I think they may be covering their backs in case the appeal is unsuccessful. However, they still aren't paying out to the debtor.
