www.iva.co.uk

Was wondering if there is a time limit for claiming ppi while in a iva,I made my last payment in july 2011 and signed power of attorney over to varden nuttalls to make the claims in november 2011.
Still no completion certifictate and all i get told is were still waiting on one more company to reply,which has been the same come back for months!

Any information would be great.

Hi

I am not sure if there is a limit but it is simply appalling that you have to wait close to two years. Write to your actual IP and ask for a clear end date
Regards

Hi Andy

ive been ringing them on a weekly basis but just get the same outcome,theres nothing they can do untill they get all claims back,they recieved several replys upto 6 months ago which included cheques for mis sold ppinow i seem stuck at this point with just the promise that my case is priority.

Was just wondering how long im going to have to wait for this one company to respond to the claim.

thanks forthe reply

If you have signed a power of attorney, what is stopping them closing the case and dealing with the PPI claims post-closure? I thought that was the point of providing the power in the first place?

Hi Melanie

I thought thats what was going to happen,but im told they are unable to close untill all the money from ppi claims are in,with one company digging there heels in and not replying it seems to be never ending.

I think that the new regulatory guidance about to be issued to all IP firms will be helpful to your IP in determining that they probably can close your case. We are hopeful that this will be issued over the next couple of weeks.

I did hear something might be in the pipeline with these new regulations.just unsure if it would have any bearing in my case.
Fingers crossed it does,
Thanks a lot for the info.

This is disgraceful!! If you hadn't paid they wouldn't wait 2 years to take action!! Why are they so worried anyway! Is this because you may just put a claim in yourself once completed!! Honestly this is a total breach of contract and somebody somewhere should say this is not acceptable and here is your cc!!

Just out of curiousity have the monies you have paid been distributed to your creditors or is it sitting in their bank account obtaining interest???!!!

Not sure to be honest but i could imagine where it is,I would of quite happily signed away any claims for ppi if it meant getting my certificate but that wasnt an option either!!!!

I don's see any argument here for breach of contract Nutkins - on what grounds do you claim this to be so?

Because Mel they are a business and the contract whether it be verbal or written was that the IVA would be finalised and cc issued within a certain timeframe! If the debtor did not pay for 2 years they equally would be in breach and further action taken by the creditor etc! 2 years post completion without any cc is simply not acceptable!! They are paid good money and if nothing else the IP in question should be liaising with the debtor every step of the way!

But with respect, PPI is an asset that existed when the debtor entered the IVA 'contract' and as such should be psid into the pot.

It is not fair to complete an IVA and then claim PPI (in my opinion) especially if creditors have written off a certain amount of money.

It is very likely that the terms of the IVA allow it to be extended - most do. Would the debtor really prefer that the contract be terminated without a conclusion, after paying payments for so long? I doubt it.

Hi all,

Sorry to come across this post so late. I cant discuss a specific case on the forum. I can tell you that Varden Nuttall are working with our solicitors on a process to complete IVA's and deal with PPI afterwards where PPI is the only issue outstanding, similar to what Melanie suggested.

To answer Nutkins' question, all funds that we receive are held in non interest bearing accounts specific to that clients IVA. Should this change and interest be received on funds held then this would form a part of the IVA estate and would be paid to creditors. Varden Nuttall does not benefit from interest received on client monies.

Hope this helps.