When a creditor refunds ppi who should they send it to? Are they allowed to set it off only against what they are owed or should they forward it to the iva company?
They should send it to the IP --- they are not allowed to offset. That said, some have tried (HSBC routinely does it). Unfortunately they would need to be taken to court to get the matter ruled on, if they don't back down to being challenged and the amounts often involved make this unlikely to happen.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
