Will reclaimed PPI be treated as winfall ?

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arvey_lad

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Post by arvey_lad » Fri Oct 24, 2008 1:52 pm
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I'm in an IVA and a friend of mine says he can claim back all the PPI and charges on my credit card accounts. This amounts to a substancial amount of money, if he reclaims this money will it be treated as a "win fall" payment with half going into the IVA and half to me?

Many Thanks

Rob
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emma_t

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Post by emma_t » Fri Oct 24, 2008 3:03 pm
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Hi Rob and welcome to the forum

I would imagine that it would be classed as a wind fall and have to be paid into your iva for the benefit of your creditors, but I am not 100% sure.

Hang around and one of the expert IP's will confirm this or not,
Emma
Be positive & look after yourself, there are more important things in life than debts....

Best Wishes

Emma x
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MelanieGiles

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Post by MelanieGiles » Fri Oct 24, 2008 3:20 pm
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If it is a windfall, you will be obliged to pay all of it over, unless your proposal specifically says otherwise.
Regards, Melanie Giles, Insolvency Practitioner
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