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Posted: Sat Dec 17, 2011 4:59 pm
by niallj
Hi I am currently in an IVA and have a secured loan which is being paid in full each month, before I got this loan I had another with the same company this one had PPI on it but my current does not, I wondered if I claim for the PPI would I be able to keep any of it as a windfall?
Posted: Sat Dec 17, 2011 5:17 pm
by Broke of London
It would be treated as a windfall as per your IVA. Check the paperwork to see what would happen.
Posted: Sat Dec 17, 2011 5:56 pm
by kallis3
Hi and welcome.
BOL is right - I'm afraid any PPI claim will either come off the original debt or have to be paid across to your IVA.
Posted: Sat Dec 17, 2011 5:56 pm
by kallis3
Hi and welcome.
BOL is right - I'm afraid any PPI claim will either come off the original debt or have to be paid across to your IVA.
Posted: Sun Dec 18, 2011 10:40 pm
by niallj
thanks for all the advice, I am a little worried with some of the questions and replies about PPIs claims on the forum, Am I correct in saying that all of any ppi claim would go towards my IVA? they would still let the ppi claim company that I am dealing with get their fee of 20%, I don,t want to have to pay the fee out of my disposable income
Posted: Mon Dec 19, 2011 8:08 am
by kallis3
I'm not sure what happens with the fee but if you speak to your IP I'm sure they would allow for this.
Anything else will either come off the original loan or be paid into your IVA. Either way, all of your creditors get a much better dividend.
Posted: Mon Dec 19, 2011 8:29 am
by plasticdaft
I would be careful of not going via your ip for the claim as you may get left with a bill if claims get paid direct to creditors.
This has happened in scotland.
Paul