Page 1 of 2
Posted: Mon Jul 02, 2012 2:24 pm
by Strapped
Hi guys not posted for a while but have been keeping an eye on u all ! Just had my full and finall offer accepted ! Can't believe it ! Just a note for all you people claiming PPI I used my PPI claim as part of my F+F offer with my wonderful parents putting 2000 towards it ! So maybe you can turn the annoyance of not being able to keep your PPI claim to your advantage !!!
Posted: Mon Jul 02, 2012 2:27 pm
by kazzafunk
Glad to hear your news! It's a lovely feeling isn't it.
We used my PPI refund as part of our f&f settlement also. It showed to me that creditors are open to any offer as they could have taken the PPI and refused the offer.
Posted: Mon Jul 02, 2012 2:51 pm
by moneyisthedevil
Oh so if your IVA company are reclaiming your PPI for you - you could offer it as a f&f of your IVA????
Posted: Mon Jul 02, 2012 2:55 pm
by kazzafunk
Well I think if you have other funds that could be produced for f&f and / or you have changes in circumstances that could affect your ability to pay the IVA then technically yes.
In our case, I was offered ill helath retirement @ 47 years old and my pension is a lot less than my wages were. So on paper we wouldn't have been able to make repayments. Therefore by offering the PPI and a 1/3 of my lump sum we ended the IVA early.
Our dividend reduced from 17p to 15p (I think!!).
Posted: Mon Jul 02, 2012 3:08 pm
by Adam Davies
Hi
Great news and glad to see that you benefited from the PPI claim
Regards
Posted: Mon Jul 02, 2012 5:38 pm
by Shining
That is great news x
Posted: Mon Jul 02, 2012 5:41 pm
by luluj
Excellent - time to really start your life again and in debt freedom !
Posted: Mon Jul 02, 2012 5:41 pm
by MelanieGiles
Were you struggling to meet your monthly payments, hence the full and final offer was the best solution for you and creditors?
Posted: Mon Jul 02, 2012 5:43 pm
by orchid5
Congratulations Strapped and well done, best wishes now for your debt free journey. xxx
Posted: Mon Jul 02, 2012 5:57 pm
by Gina.gu
Great news! Well done and that's a great idea regarding ppi!
Posted: Mon Jul 02, 2012 5:59 pm
by pennieless
excellent news, well done
Posted: Mon Jul 02, 2012 6:09 pm
by Niobe
Congratulations.
Posted: Mon Jul 02, 2012 6:52 pm
by Strapped
We were not struggling to make the payments and the ppi claim plus the money from my parents took the total paid to slightly above the agreed 41p in the pound. There is the possibility of redundancies at my place of work but this is only a possibility. Then again in this day and age who's job is safe ???
Posted: Mon Jul 02, 2012 7:00 pm
by MelanieGiles
What justification was provided to your creditors as to why an asset to which they were entitled in any case could be used to end the IVA early, if there was no difficulty in making payments?
Posted: Mon Jul 02, 2012 7:07 pm
by KM1512
Congrats strapped and good luck for the future