www.iva.co.uk

I am interested in reclaiming PPI from my loans but I am led to believe that if they voted for my IVA I cannot claim PPI, is this correct... from my paperwork can I see who voted against me ..


12 months and counting till IVA completed

Hi

You can calim any PPi as long as you feel it was mis-sold, however many companies off set it for the debts you owe them, also anything you get from the PPI clims would be classed as a windfall and all has to be paid into the IVA, so either way your wont get the payment yourself.

Its used as a way for you to pay back a higher divident to your creditors

Arty

Hi - as Arty says any refund would go to the IVA pot (unless the refund and payments to the IVA exceed 100% of your debts plus fees).

I have just got some money from HSBC and it was paid direct to my IP, I used this sum as part of our f&f offer.

kazza,
seeing as I only have 12 months left this would be a good option for me to settle any refund as a F&F offer

Thanks

You could ask them, although they are legally entitled to this over and above the last 12 months payments. Mine was incorporated in an offer of part of my lump sum that will be paid with my ill health pension.

I would say that if you have any health issues, or changes in the next 12 months that would make continuing with the IVA difficult then they may accept it. Over the last 4 years have you made any additional sums to the IVA?

yes, when they did my 12 month review, any extra they asked for I paid, my car loan which was on HP finished in August last year and that payment was added to my iva payments. I pay over £1200 a month to my IVA with 12 months to go, realistically how much would a F&F offer be considered....

It's best to get as close to the original dividend quoted on your original IVA proposal. I worked mine out by deducting the IP fees from my payment x the number of months left plus £1000 for a variation meeting. The creditors knocked the meeting fee down to £300 so it worked out slightly better when it went through.

If you are currently paying £1200 a month to your IVA and have 12 months to go, if you have no equity clause then realistically your creditors would expect a F&F of as near to £12k as possible (as that's what they would be getting if the IVA continues to the end)