can I ask for interest from ppi

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toplad

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Post by toplad » Fri Feb 06, 2015 10:05 pm
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Hi, we have just recieved over £8000 in ppi, I am dezperate for a more reliable car, for work, can I ask for the interim interest back from the ppi claim, its about £1200 which would buy a half decent car. Thanks
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thisusernameistaken

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Post by thisusernameistaken » Sat Feb 07, 2015 1:09 am
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I'd be interested to know whether the interest was passed to the debtor (I personally think it should be). Bear in mind you'll need to pay tax on that interest as well.

I think it will depend on your IP, speak to them.
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Radish

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Post by Radish » Sat Feb 07, 2015 10:29 am
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I asked for this with a simular amount in my own IVA and was turned down. I would read your small print and ring your IP and ask them. If you dont ask you dont get ?-/ worth a try.
IVA complete March 2014 after 6 years.
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Struzzo39

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Post by Struzzo39 » Sat Feb 07, 2015 11:05 am
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We're with Payplan and with them you are entitled to the 8% interest accrued on ppi
Steven & Debbie
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lifenoteasy

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Post by lifenoteasy » Sat Feb 07, 2015 11:18 am
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If the interest comes to you it is classed as income and will need to be declared to HMRC.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
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