www.iva.co.uk

Hi

IVA successfully completed in November 2011, completion certificate received in January 2012.
I ended up paying back approx 61p in the £1 to my creditors.
Moved on with my life, all is good and no debt to worry about.
Then received a letter last week from one of my old creditors under the IVA re potential PPI claim. I am going to submit the claim form as I know that I was misinformed by the bank at the time when it advised that the PPI was a condition in securing the loan despite me stating at the time that I did not need it.
If the claim is upheld and there is a potential refund of money, who would be entitled to it particularly given that my IVA and creditors accounts were settled almost a couple of years ago?
Thanks

Some IP's would argue that it is still due to the IVA for distribution to your creditors. There is a possibility that the creditor concerned will offset the old debt (whether this is legal or not has yet to be decided by court action). Some IP's are happy for you to keep it -- in any event, if they don't know about it they will not come looking as it is commercially unviable.

I'd claim but do it yourself so if creditors do offset against the debt write off and you get nothing you wont be due s claims firm a stack of cash!!

Paul

Thanks
I know realistically that it is highly unlikely that I will personally gain financially from the claim, regardless of its outcome.
If it goes back to clearing off the remainder of the original debt, that would be fine so long as the old loan account is not formally reopened or affects my credit score which has taken me a good couple of years to finally rebuild (I am in the progress of a mortgage/moving into a new build).

The only other thing I would dread is dragging my IVA file from the archives!

Thanks again. I might keep this thread updated with any progress during the claim.