www.iva.co.uk

We failed our IVA in December - we simply couldnt afford it anymore. The file was put in 'pending failure' until they have investigated any PPI claims. They sent us a form to sign and said that we would get the first £500 received. I am now wondering, do we have to go through with this? Seems as though we are failing the IVA anyway, can we claim our own PPI back????

Hi

I think you are still under the terms of your IVA so any windfall will have to go to your creditors.

Best to allow this as it will reduce any outstanding debt.

Are you going to make yourselves bankrupt ?

Regards

Yes, that is the plan Andy. Why?

So you think we should just go ahead and let our IP sort the claim out? From what I understand if we tried to claim ourselves from a company that we owed money too, they could automatically keep this money anyway??

Hi. Already being insolvent, any PPI claim will be expected to be paid to creditors one way or another. If you go BR the OR will want to see this money too.

It is likely that the PPI claim is entrusted to the IVA, in which case the IP is acting quite correctly - although I see no need to keep the case open necessarily.