www.iva.co.uk

Hi all, some of you will remember I was fighting Lloyds to get PPI back, they agreed it was mis-sold and want to pay the almost £2000 off the interest of my loan, I told them they were acting illegally and my other creditors deserved a fair share. Anyway, I got a letter today again saying they would use the money to pay off interest on my loan and if I wanted to pursue it I have to give them details of my BR case and the name of my OR. How stupid are they, I have given them all the details of my IVA. As others have said on here before the big banks haven't a clues the difference between BR and IVA's.
Needless to say I will continue fighting them.
BTW hope everyone is fine.
Ricky

I thought that they could do that, but it would reduce the dividend that they receive. Hopefully Andy or Melanie will be able to advise.

I was under that impression as well Skip.

I'm sure that your creditors will still receive their fair share.

I amsure that the bank will be able to set off the repayment due against their debt, but will be interested to learn the eventual outcome of this specific matter.

I'll keep you posted, I'm actually enjoying this game with Lloyds, sad but true.

I've had more letters back from Lloyds and they are insistent that they will only pay the money in to reduce what is owed to them. I spoke to my IP today and she said to accept what Lloyds are saying but they need to submit a new 'proof of debt' and hey will get a reduced payment from the pot. Ah well I had a go, you can't win them all.

I have to say I think that they are right, and your other creditors will benefit a little from a reduced claim from Lloyds.

In all honesty, £2k going into the BR estate will disappear in the blink-of-an-eye - if there are little or no other assets being realised, the benefit would be unlikely to get to any of the creditors anyway and I'd suggest that commercially, it's a good decision. Now that we've found someone capable, can we get hold of whoever was responsible for making the decision at Lloyds and ask them what's the answer to the global market crisis?

Ricbro is in an IVA Angela, not BR.

Ahhh.

Should have had had a cup of coffee before I sat down.

Thanks Kallis

Hi all, not posted recently due to being busy at both jobs, anyway, I have had a letter from Lloyds to say that the PPI they owed me is now going to be paid to Payplan, there is now an extra £800 making it £2,800, now Payplan told me I would get £500 of the original £2k if I was successful in getting it off them, now that they are playing ball and sending it to Payplan, will I get the £500 they said I could have, even though there is now even more money. Sorry if this doesn't make sense.

Don't see why you would not still get the £500 as creditors will benefit even more from your hard work. Speak to Payplan and remind them of your chat and hopefully you will get the money soon. If I was one of your creditors I would not object to you receiving some[unless of course I was Lloyds].

Hi Richy,

Congratulations on working towards what can only be described as a fair and equitable result for all your creditors. Hope you get the £500 share first indicated and perhaps more if it was originaly based on 25% return to yourself??

All the best.

Andy

This is a very old thread. Due to.the same spam postings I'm locking it