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We are in the second year of an IVA. We have reclaimed PPI successfully, independently from Barclays on a Secured Loan. We have been advised by PayPlan that Secured loans are not included within the terms but Barclays are telling us the refund must be paid into the IVA despite that ! Can you advise on our position please?

Hi and welcome, secured loans aren't included within the IVA only unsecured borrowing. However, it could be that the PPI is deemed an asset and as such is payable into the IVA Why not have a word with your IP direct to gain some case specific advice.

Hi Jasond0176, welcome to the forum

Even though the secured loan debt is not included as a creditor, as Lesley says, depending on the terms of your IP, the PPI claim arising from it can be seen as an asset for the benefit of your IVA so you need to clarify this with your IP.

Let us know what the outcome is as I am sure many will be interested to find out with PPI being such a hot topic at the moment.

If it relates to a secured loan it may be possible to have bank offset the debt against the current balance. If there is no balance remaining it will go to the IVA.

Any debts to barclays included in the iva?

Paul

Basically forget about it and give it coz they let you have the IVA and they are writing off a lot of cash so its swings and roundabouts

just 1 of those things I was told to wait to complete then I could have it all then they changed awhile ago and said they are taking it if any money is found

what can you do if you complain they will make it rough on you and they know you wont make a fuss while you are in the IVA coz you are scared they will fail you After you complete you are nothing to them so let them get on with it and look after yourself
good luck

Hi Jason,

Was your loan direct with Barclays, we had one with First Plus and just had ppi payment back from IP as First Plus loan not in iva and was paid off before iva taken out.