Looking for help, to get me IVA closed quicker I signed a deed of assignment, over the last few months I have had lots of calls from Lloyds and EIF in respect of PPI claims.
Arrived home tonight to a letter from Lloyds saying the claims are valid and they will refund over £9800.
My question is this money gone forever to DFD / EIF and if so what will happen with it or can I appeal in anyway.
It will be distributed to your creditors. Yes, it is a lot of money -- but not lost, as such. Until the IVA is closed you still owe the full original debt plus fees .. so it will help pay that off ---- at the end you will still get whatever you haven't paid written off as well as saving whatever you would have been charged in interest whilst in the IVA. Chances are you will still come out on top.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles
How much do you still owe to your creditors, Wayne?
Hi Melanie, I am not sure how it all works if I am honest, I paid my last payment in January 2013, the completion paperwork and cert were issued on the 11 March 2014.
I would check with your IP to see if the PPI monies would see all of your creditors paid in full, plus the costs of the IVA, to see whether you may be entitled to receive any of the surplus.
It seems complete madness to me that after all the time I have spent on the phone and with replying to letters that yes in the end it was a valid claim but all they will do is in basic terms give the money back to them.
