www.iva.co.uk

Hi, I have been asked from Grant Thorton to apply for PPI. Question is i have already applied 3 years ago and I called them to advise this claim. The result of claim throughout Ismart was:1)Money paid back was kept from the creditors(natwest) cause I own them money. 2)Ismart wanted the 25% of the ammount of £3000 which i have never received. 3) After all that, I spoke to my IP in Grant Thorton who said that they couldnt do anything about it and actually the money paid back from my PPI claim were not going to decrease my IVA debts and not even recalculated to my original IVA agreement, which with this claim confirmed that they were not suppose to count this money as part of my debts. Moreover, this amount it has been (£3000) inlcuded as my total debts toward this bank(natwest) at the beginning of my IVA agreement.
So at this point i would like to know, why I should again found out myself in a situation like that? I mean if i would be paid out some money the 25% should go to the company that win the ppi claim, but as the banks have a right to do what i just said above, i would find myself with more debts with a new
company....thnks

PS Ismart it has been paid despite the fact i didnt get any money back from the claim

Do you have any mis-sold PPI which you haven't already claimed? If you have, then Grant Thornton will make all the arrangements to claim it and pay the firm who do the legwork. It won't cost you anything. x

Hi there,

I'm with GT too & have also recieved the information on claiming any miss sold PPI. We only had one loan with PPI on but we knew about this right from the beginning of taking out the loan. I phoned up GT to let them know and my file was simply updated & no further action was needed.
Give GT a ring & see what they say x

It's good to hear GT are taking a more sensible approach than some of the other firms regarding this.

For your own peace of mind though, I would send an email to their customer services team setting out what you believe was agreed in the telephone conversation and asking them to confirm your understanding. It's always a good idea to have a written record of telephone conversations.

broke of London do you know that as a fact that GT pays the claims broker, me I doubt it? correct me if I am worng GT?

Or does it run like this the claims broker gets nothing from anyone other than a whooping chunck of any succesful claim, which he keeps and then GT may and I only say may get a referal fee back from the claims broker? Again GT can correct me on this as it's just a guess?

Sponge just figure out that you are right, what is the purpose to claim PPI if in my case the banks will not issue any payment at all to none. On the other hand the Claim broker will get no money but it will start to call me as it happened in the past with Ismart, to get thei 25% of money?

I got £4000 back which HSBC paid to my IP. I was entitled to the interest part of the payment so maybe you would be too? They did not retain the money to take off the debt, so the payment was spread over all my creditors.

I didn't use a claims firm, I was already going through the process when I applied for an IVA. I did use the Financial Ombudsman (it was over the time where the case was going through the high court so there was a hold on all refunds until the hearing result).

I know it seems like a waste of time but at the end of the day most of us are having debt written off by creditors so it is, in my opinion, down to us to repay as much as we can or is available to us.

Although of course the question for all should still be - were you mis-sold PPI. The FO decided I definitely was as I had sufficient income guarantees and sick pay entitlement at the time to not warrant a PPI and I was told the loan could not be approved without.

It is really hard for people coming to the end of their IVA's to now have this thrown on them, however it is just bad timing. I would suggest anyone just starting an IVA, to pursue any refund themselves that they feel they are due - on the understanding that funds would be payable to the IVA.

kazzafunk

one step ahead of me I was going to say.. anyway here it is cut n pa
ste from another thread post from me

"Also if GT are so creditor centric why go through a claims broker who will take a whopping chunk of it when you can fill a simple form and do it yourself to maximise the creditor return"

I'n not picking on GT it was in the thread but it applies to all IP's

Mas 39 Brokers know some they win some they loose

My concern is still the same,if and i said IF there is a PPI to win how this time the claim broker would be paid? and if they are able to get the 25% why this time is different from my previous claimy? just bear in mind that I had to pay ISmart on the top of IVA debts which was very painful and i did a lots of sacrifice to paid them.

To Kazzafunk, i am more than happy to give back as much as i can to creditors, but my question is about why I should find myself left alone as it happened already to pay the claim broker the 25% or they have a privileged channels with creditor that enable them to get the 25% from the banks?

I'm not sure what you're asking if I know for a fact? The OP will not be out of pocket - that's the point I was making - as GT and their appointed firm are sorting things out.

I made my last payment in Jan and have heard absolutely nothing from GT re PPI claiming. Sent Karol an email on Wednesday requesting an update on my closure and PPI but have had nothing back to date.