www.iva.co.uk

Hello to you all.

I am almost 3 years into my IVA. I received a letter from my Supervisor (McCambridge Duffy). The letter was requesting that I file for PPI. They also stated that it is a must that I file for this and I am not allowed to refuse or defer, is this true? Legally can I say no?
Might I add 40 percent of the money returned will be going to an external agency which will process the ppi claim.

Thanks for your help in advance

Hi,

Firstly, do you have any PPI and if so, do you feel you were missold?

I'm sure that Michael Peoples has posted recently that McCambridge Duffy aren't forcing people into claiming but I could be wrong.

Hopefully he will pick up on this one.

Hi Nali,
some may say yes, but in my experience it's no, but I received a list of creditors who charged me ppi from the ppi claim company and know I was not miss sold ppi by any of them so was not forced to make a claim. So signed a form sent to me by my IP stating basically that I was not miss sold so will never make a claim.

As Melanie Giles has said many times on this forum - If you believe you were mis-sold a policy then you should claim, as you have been wronged. If your IP believes that this is an asset of the IVA then they are entitled to the full sum, unless creditors have the right to offset the balance against their debt, and subject to you paying tax on the interest element of he claim - if you need to.

If you do not believe that you were mis-sold a policy -then that is the end of the exercise, unless your IP wishes you to pursue potential claims that you may have forgotten about or were not aware of, in which case you do have a duty to at least explore this.

I think one of the issues with this is that it is becoming apparent that it is not up to the customer to decide if they have been missold PPI or not, the fact is that the ruling was that PPI as a product was deemed unfit for purpose and therefore it is classed as missold to everyone whether you believe it was a product worth having or not, this is why all the banks have had to set aside money to repay the policies and are not contesting any claims.

Lem yes they do contest claims. My wife has PPI currently, as it suit her needs. There's a reason why they set those sums aside (PPI aside) it's a massive tax offset couldn't have come at a better time!

As mumsy has put it if you were not misold it say so it's soley your decision!

If it was misold then may I suggest you take the FSA explict advice and claim it yourself

It has been suggested from the FSA that you may be at exposure to a calim directly from the creditors for the claims comapny fee.

whatever you do protect yourself I would write to your IP and ask that that they will indeminfy you aginst any claims comapny fee creditor reclaim! They might no be so keen if they think they will foot some future bill

I beleive one or two IP's have gone for some sort of modification on the proposals company wide, that creditors have to accept claims fee from the claims company as part of the proposal?

There are one or two posters on here who have benefited from PPI and have claimed. They can't possibly say they were missold.

I am sorry I have just seen this and it relates to our firm. There are that many PPI queries on the Forum at the minute all on the same subject, that I admit I do not read them all.

However, it is incumbent on the IP to maximise the return to creditors and this does involve investigating missold PPI. It is a reasonable request from the IP and no one is asking you to do anything you are not comfortable with. If you wish to reclaim the PPI yourself then let us know but do not instruct a claims management company as this could leave you with a bill personally.

The easiest thing is to complete the paperwork and let the company do the investigating. While many people believe they were not missold PPI some were sold it without knowing but regardless each case needs to be looked at whether by yourself or the PPI company.

I hope this makes sense but any problems and please do not hesitate to call the office.

We were asked to claim PPI through our insolvency practice. I knew I didn't have any but said yes as we are in or final year and didn't want to jeperdise the final few months by having to wait for any claims to go through at the end.

I think a lot of people on here are dubious about the firms offering assistance in reclaiming PPI or bank charges.

Ultimately, as said above, the IP is only doing a job in ensuring the creditors get as much returned to them as possible and if this means asking for money back from banks etc. then this is what they will do.

What has gone wrong in this process is the IP's have worked on the basis people in IVA's are not bright enough to do this themselves (given we have all proved we have a problem with organising our own finances hence being here in the first place they may have a point )and have secured the services of third parties who tend to use aggressive tactics to secure the rights to reclaim the money due to the large fees they can charge - this also tends to p**s off people in IVA's..

The easiest solution is for everyone to write themselves to their own banks / credit card companies and make the claim themselves, this will ensure all monies go back into the IVA - which the IP has to agree is good and keeps everyone in control of the situation so alleviates the stress..

Given that this is such a big thing at present its a shame the forum has not done a section covering how this can be done and posting template letters for anyone to use..