www.iva.co.uk

Hi all...I have just claimed a PPi of £1360 off egg,,but Clear Debt who I had a IVA with has taken every single penny,also I owe 36% of it to a claims company...The IVA finished June 2011 and after over 2 years they still have the right to have it all....anything I can do about this??

Hi and welcome to the forum. Have you received your completion certificate firstly?

I received the completion certificate July 2011

I believe you may have e mailed me directly on this matter, and if so I will be back to you shortly.

Regards.

Hi Crocks - welcome to the forum

I see size5 is on the case for you so will leave in his hands to deal with you directly.

Best wishes.

Just spoke to a woman called Lisa Hubbard and she has told me that they will pay my fees to the claims company but are going to keep the rest,,I still feel this is wrong ,I suggested splitting it 3 ways and we would all be happy but she is having none of it..so I suggest if u have been in an iva don't go for ppi refund..

Not a happy person right now

I think that's fair that your claims companies charges are being paid out of the PPI claims - I don't think you can expect to walk away with a handful of cash from the PPI - when these are seen as an asset of an IVA

Hi Crocks. To be honest you are fortunate in that the company are going to foot the claims company bill. Some have been well and truly caught out and had to deal with the bill themselves when, for instance, creditors have offset the PPI against the old loan.

I am afraid, 9 times out of 10, PPI is regarded as an asset and, as such, is due to the IVA.

Yeah I know,but the debt is now written off ,I will not claim anymore,they can keep al the ppi...

To be honest I find it amazing that someone should think they can keep any PPI monies who have been subject to an IVA, afterall someone in an IVA didn't keep to the terms of any loan or credit card agreement and they then asked the company to write off some of the debts and then inturn complain about PPI and not give that money back to the creditors afterall it was an asset at the time of the IVA.

Then you could argue that if the ppi policy had not been miss-sold in the first place, then the loan repayments may have been less which in turn could mean that the debtor could afford to keep up with repayments, therefore, no need for an IVA.

Just a thought and an observation.

Can someone please tell me how long after an IVA has finished and the completion certificate issued is the individual concerned allowed to keep any windfall. For example if I were to win the lottery in say 15 - 20 years time could I expect my IP practitioner to claw this back against my IVA.
Does the same thing happen to those who go bankrupt as at the moment it seems that been in an IVA and completing is more of a millstone around an individuals neck than going bankrupt and not paying anything to your creditors?

Once your IVA or bankruptcy is completed you have no liability to the debts and any windfalls are yours to keep. There have been issues with VAT and PPI which has lead to a delay in closing cases but these were already assets of the IVA anyway and not windfalls.

Windfall are different than assets - Lottery win after you your receive you certificate should not be touched - In bankruptcy PPIs claims belong to the the bankruptcy - and remain the the receivers - they are NOT returned to the individual - even after the bankruptcy in finished

What type of IVA did you have in the first place "All Asset" or "Defined Asset". If it was a defined asset IVA then PPI may never have been included in it in the first place and a claim made after completion would be yours to keep..