www.iva.co.uk

Hi

Just wondered if anyone could help on this one, have had a IVA with RSM Tenon and made my final payment in November 2011, have yet to receive a completion certificate.

Today have had a letter about the possibility of 3 PPI claims that could go to my IVA, bit confused as I thought I had no finished my IVA, also the 3 loans which mentions are possible claims I know I did not take out PPI with,

Should I fill and return these forms in, am I in breach of IVA is I do not.

Many thanks

If you did not have PPI or you were not mis-sold it, give them a call and let them know, perhaps chase up your certificate too!

Just fill the forms out, make a note that you don't think you have any claims and let them get in with it. My firm will fail ivas on grounds of impeding the supervisor in their attempts to maximise creditor returns (can't remember the exact words but that about sums it up). Is it blackmail...yes. Can you stop them...no.

I understand that an IP must do their best for the creditors, but postponing closure to (attempt to) claim back money from (presumably) the same group of creditors seems counterproductive and unfair. From reading other posts, I also understand that if successful, the PPI claim may just be knocked off the debt from that creditor - no net benefit.

You have my sympathy.

There will be a net benefit as, if the PPI is taken off that creditor then the dividend is higher for the rest.

It should be addressed a lot earlier in the IVA and perhaps the IP's who are wanting people to do this should be asking the question before the start of the IVA - have you even taken out PPI?

On that logic, would a common benefit be more likely if the debt relating to the PPI has already been sold on?

E.g. If I originally owed HSBC 10k and they sold the debt on, all creditors could benefit from a PPI claim.

If you did not take out PPI with these creditors, then this matter is of no consequence and there should be no further delay in your IP closing your case.

The IVA providers pursing claims all seem to be taking a paternalistic approach e.g we may not know we have taken out PPI so they will investigate for us. It is all very patronising and leaves us with no rights to opt out of the process even where it doesn't concern us. And the end result is fit in or fail.

I don't think that is fair comment across the board BOL - but I know you are having a rough time with your own firm over this issue right now.

They are definitely playing hard ball with us! The interesting thing is that they sent me the original letter, a chaser and a second chaser threatening failure all without ever talking to me in person...I have no doubt they would have failed my iva still without talking to me! I did eventually get a response to my questions which I raised after the first letter and have complied. But grudgingly as they talked to us like dirt! I spoke to their marketing manager about customer service and their tone of voice/ treating client like criminals but I'm sure it was water off a duck's back. There are a few other companies employing these strong arm tactics too...some of them otherwise reputable too.

I think that the pursuance of PPI claims, if IP companies are going to insist on it, should be made a lot sooner than the end of the IVA. It should also be stipulated now when you discuss doing an IVA that this will be happening.

That way it will be dealt with a lot sooner and closure can happen quicker than it is at the moment.

Well, I have signed all the forms and returned them to the company, at the end of the day if this wish to investigate that is up to them, I know for a fact their is no PPI on any of the loans so it seems a bit of a waste of Man Hours, just frustrating that this will now drag on I dare say

It does seem a waste of time and particularly galling that they don't trust us to know whether or not we've taken anything out or, if we have, whether it was missold or not.

I have an iva with Tenon and made my last payment on the 5th may 2011. I to am waiting for my final completion certificate.
I is now 15 months. They tell me i am near the top and there is 1000 waiting closure. This tells me this is an industry in crisis which is generally a reflection of Britain PLC.