Page 1 of 1
Posted: Sun Jun 17, 2012 9:31 pm
by chris1982
Payments for my IVA ended in May but my PPI claims are still ongoing with equity in finance. I got a letter from Santander yesterday saying they wish to offer me 896 pounds for the ppi claim and if i wish to accept this offer they will then pay the money into my account. do i get to keep any of this money or is it all paid into my iva even though my payments are now finished. these claims are ongoing with are number of other credirors as well if all these offered me around that amount it will work out that i am giving my creditors more than my iva was worth in the first place so surely i should be entitled to some of it????
Posted: Sun Jun 17, 2012 11:38 pm
by plasticdaft
You always owe the full amount of your debts plus fees,no amount is written off until the end of the iva so its likely any ppi monies will go into the iva pot to increase your return to creditors.
Paul
Posted: Mon Jun 18, 2012 6:38 am
by Muggins
Hi! Yes as Paul says this money will go towards your iva! It's not what your iva is worth but what your total debt is including fees and statutory interest aswell! Amounts to alot more than your original debt if this is the case! Some companies are offering a small amount of interest to be given to the debtor but what this amounts to I wouldn't know if any atall! It might be worth u asking your ip! Good luck
Posted: Mon Jun 18, 2012 6:39 am
by Muggins
Hi! Yes as Paul says this money will go towards your iva! It's not what your iva is worth but what your total debt is including fees and statutory interest aswell! Amounts to alot more than your original debt if this is the case! Some companies are offering a small amount of interest to be given to the debtor but what this amounts to I wouldn't know if any atall! It might be worth u asking your ip! Good luck