We completed our IVA's in Sept 2012 and have this week received our certificates! Today we have just received a letter from one of the loan companies that was included in our IVA, stating they know they have misold PPI and if we return the forms we will get a refund within 28 working days.
My question is...now that we have been released from the IVA are we allowed to reclaim PPI? We have never tried to reclaim it ourselves, its literally with just having received this letter today that we have started wondering where we stand? We know we had PPI on several loans and credit cards that were included and we were never asked to try and claim PPI as part of our IVA terms.
Hi -- and well done on getting those certificates. Different IP's have different views on PPI after of the IVA: Some will leave you to keep it, having ended their responsibilities toward your IVA and some maintain it is an asset of the IVA and will want it paid to them to forward to the creditors.
Also .. creditors are treating it differently too: Some pay you, some pay the ex-IP and some will keep it to offset the old debt.
You have a couple of courses of action: Ask you IP -- which might open a can of worms. Or, just claim and see what happens.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I am suprised that your IP did not investigate this prior to closing your case, however if the money was not an asset of the IVA then there would have been no need for them to do this. Best to check with them directly, or try a claim (if you feel the policy was mis-sold to you) on the basis that your ex-IP may have to determine what happens to the monies.
