www.iva.co.uk

Hi, we entered into our Iva in March 2008 and in March 2013 it was extended by 6 months so the dreaded ppi claims could be made. In September we received our certificate of completion as promised. Since that time a further £7000 has been paid into iva from ppi. We had a massive debt of aprox £43,000 and made personal payments into the iva totalling nearly £30,000 over the five years. We are no longer registered in the insolvency register and believed that our self made nightmare was finally over...BUT...the iva administrators used a third party firm to recover ppi. We have just received a letter from this firm to try and recover ppi from a loan I took out 12 years ago. This is a loan before I was even living with or more to the fact 2 years before we were married. How far back are they going to go...did i take out a loan when i was 18??? ( 46 yrs old now !!)and who is footing the bill for the work, am I going to receive a nasty bill...Please help because I’m completely lost..and sorry if this has been covered many times before..

Hi -- they will go back as far as they can. Their fees will come out of any refunds they discover and the balance will be paid to your former creditors.

thanks..but Do I still need to sign letter of authority as I have previously stated to them that I do not believe I was mis-sold ppi and believe its a fraudulent act.

The letter of authority should be to allow them to investigate -- you are not signing to say you have been mis-sold.

Indeed, can you be certain you were not mis-sold. I have to admit I was one who made a great fuss on this forum, in the past, and swore blind that I was not mis-sold, nor even HAD any PPI .... they found over £8000 worth, hidden in a loan!

Can my iva be reopened if I do not sign it?

To be honest, unless you signed any agreement during your IVA, I doubt there is anything they can do to compel you to co-operate. Your IVA cannot be reopened as it no longer exists, having had a completion certificate issued, only a continuing trust will exist to allow the IP to deal with further funds ( such as PPI).

That said -- there is no precedent for this and we can only go on opinion on both sides.

Would I be notified if...by some miracle....the full debt was ckeared, leaving money over.

One would hope so

It's all very catch 22. They cant claim without authorisation and I cant claim either because of "unrealised asset". So who gains ???....thanks again

If i continue to allow claims to be made, will my administrator carry on sending me statements or will I be charged for the priviledge?

Any fees should come out of any proceeds of the claim.

I've noticed from my final completion statement that only one ppi claim is noted meaning the other one came after. I have never received notification of this from administrators so have no idea how much clearing the initial debt I am. Are they supposed to keep me updated even though my case is now closed...also does restriction on property get lifted automatically on completion?

The restriction should be lifted -- some IP's do forget -- so remind them ! They should also be able to give you an account for the monies on request.

Have spoken today with ip who said Ive no legal obligation to sign any letters of authority to ppi claims company as I would not gain from it. thanks to foggy for help and advice...this iva is now closed!!!!