Posted: Tue Sep 03, 2013 12:42 pm
I'm sure I was told by GT that I get to keep the 8% interest on any PPI they claim. Does anyone know if this is true?
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Posted: Tue Sep 03, 2013 12:46 pm
I can't speak for GT, but I was with Payplan and I got the 8% inrerest from the PPI claims.
Posted: Tue Sep 03, 2013 12:48 pm
Thanks for your reply. Was it 8% of the total amount claimed?
Posted: Tue Sep 03, 2013 12:52 pm
Yes, it was. I received £546 from £6825. I was informed by PayPlan that I had to declare it to HMRC as it is taxable. I did this and I'm paying £95 tax over this current tax yeasr
Posted: Tue Sep 03, 2013 1:07 pm
Hi Tamiani, I am currently awaiting information from EIF on three PPI claims. Payplan have told me that if these are successful I will receive statutory interest amounting to 8% of the total claim, so fingers crossed!
Sensible 77 - We finished our IVAs with Payplan around the same time. Have you heard anything about your completion certificate which they told me would be issued 'within three months'? I am unclear as to whether they meant three months from the last payment date or from the [in my case] 6 year anniversary of my IVA starting. Today is exactly to the day three months from my last payment; if its the start date anniversary then that takes me to the end of September. Just so sick of it all now, and impatient to get the whole thing out of the way! But hey, thank God, we are not with GT.........
Sensible 77 - We finished our IVAs with Payplan around the same time. Have you heard anything about your completion certificate which they told me would be issued 'within three months'? I am unclear as to whether they meant three months from the last payment date or from the [in my case] 6 year anniversary of my IVA starting. Today is exactly to the day three months from my last payment; if its the start date anniversary then that takes me to the end of September. Just so sick of it all now, and impatient to get the whole thing out of the way! But hey, thank God, we are not with GT.........
Posted: Tue Sep 03, 2013 3:02 pm
Hi, brokebryn.
My last payment was 1 June but the anniverary was 13 June. I don't know if the 3 months is from the last payment or anniversary, but in any case I've made a note to contact them on 13 September if I've not received it by then. I have received the usual annual report which mentions that my IVA is being closed down, so that's encouraging,(I hope).
My last payment was 1 June but the anniverary was 13 June. I don't know if the 3 months is from the last payment or anniversary, but in any case I've made a note to contact them on 13 September if I've not received it by then. I have received the usual annual report which mentions that my IVA is being closed down, so that's encouraging,(I hope).
Posted: Tue Sep 03, 2013 3:18 pm
Cheers Sensible 77, I have received nothing yet save an email telling me that my IVA is in the process of completion. If you hear anything more, let me know, and vice-versa?
Posted: Tue Sep 03, 2013 7:27 pm
Will do.
Posted: Tue Sep 03, 2013 8:31 pm
I am also with Payplan and got to keep 8% . Better than nothing !
Posted: Tue Sep 03, 2013 9:04 pm
I thought that the 8% was subject to tax as you indicate but also the 30% fees of the claims company and the 15% IP fee...
Posted: Tue Sep 03, 2013 10:25 pm
I am sure that GT's standard modifications allow for their clients to retain the interest element of their PPI claims, where PPI is not specifically provide for within the IVA, but you should check with them directly to be sure.
Posted: Wed Sep 04, 2013 7:12 am
I am with GT and I questioned the 8% as hubby got a payment back PPI we were told via email,(I will fish it out later so I can get the wording correct) but basically it stated it was 8% net after EIC and GT had taken there cut... so I am imagining we will get a bill from GT for our bit LOL.
Posted: Wed Sep 04, 2013 9:44 pm
damit, I'm with StepChange and when I claimed a PPI they claimed the full amount for themselves less the HMRC tax. Wish I'd got the 8% interest it would have been £5250, oh how depressing 
Posted: Fri Sep 06, 2013 12:53 pm
Hi Tamiami
I am with GT and didn't get my interest back because the payment (7k) went into my IVA 4 days before my Mass variation meeting to agree interest... I was gutted. Check hat your mass variation has been done and you should get your interest back. Good luck and I hope its a nice little windfall.
I am with GT and didn't get my interest back because the payment (7k) went into my IVA 4 days before my Mass variation meeting to agree interest... I was gutted. Check hat your mass variation has been done and you should get your interest back. Good luck and I hope its a nice little windfall.