I have completed my IVA, but the firm that dealt with the IVA (Aperture) still keep commission off any money they send me from PPI claims that they dealt with. is this right, why do the firms that have been claimed against still deal with them and not direct with me?
PPI is an assset owed to your IVA and will be distributed to your creditors. If you manage to pay off your whole original debt plus fees and possible statutory interest anything else will be returned to you.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Basically they deal with the firms that owe PPI refunds rather than you because those refunds belong to your creditors and not to you. Aperture have an egreed fee structure in place with the creditors and are entitled to deduct that fee as agreed ( typically 15% of the claim after the claims companies commission) .
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
peersie wrote:with aperture you get the interest minus their fee[obviously].well i did
peersie
Not always -- it depends on the version of the terms of engagement and their opinion at the time .. I got zilch from them when they were GT and paying either £500 or interest to others. However, as I wasn't expecting anything I was not disappointed !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
i was lucky then i got £3000 over about 3 year period each and every time i did the claiming
monies went to them directly[expected]but they charged me a managment fee for claiming it.
i did the claiming so i had to fight to get the fee back .waited for cheques to clear[obviously]
did get it back though
