www.iva.co.uk

If my IP provided PPI (to cover my IVA payments in the event of redundancy) can I claim this back. They are pursuing all other PPI claims, why not this?

Interesting question, looking forward to seeing a reply from somebody in the know.

I thought it was straight life cover?

never sat right with me an insolvency firm providing this kind of service.

An interesting question indeed.

PAUL

Was the policy missold to you Mole?

There is nothing wrong with this sort of policy if it was wanted by the client and accepted as a necessary item of expenditure by creditors. In my experience creditors regularly rejected this as essential, but I gather that some IP firms fund the payments directly.

Was this discussed with you at the time of entering into your IVA mole, or was it made a pre-requisite of you having an IVA with your firm regardless of whether you wanted the cover or not?

It was mentioned by the IP company that they had a scheme in place to cover my payments in the event that I could not but it wasn't clear who and how this was funded, nor do I have any information on this PPI other than the costs of over £2300 in amongst the other costs on my chairmans reports. So I do not know what it covers, for how long or whether it overlaps with other cover I already have via my employer.

Sorry Mel, it was not an expenditure item on mu I&E (paid monthly) but an upfront cost with my Nominee and Supervisory Fee payable to my IP company. Obviously the creditors did accept this.

Hi Mole

From your statement above "It was mentioned by the IP company that they had a scheme in place to cover my payments in the event that I could not but it wasn't clear who and how this was funded, nor do I have any information on this PPI other than the costs of over £2300 in amongst the other costs on my chairmans reports. So I do not know what it covers, for how long or whether it overlaps with other cover I already have via my employer" it would appear clear that the PPI policy was not explained in the way that it should have been.

Regards

Unless it was Mole who mentioned this a couple of weeks ago -- I do believe this has also reared it's head recently with another poster,

Hi Foggy, I must have missed that other post this is the first time I have mentioned it as I only found it in my proposal yesterday. I will search and see if I can find the other thread.