www.iva.co.uk

I received my Completion Certificate in June 2013 via Payplan. I finally received my 8% statutory interest on my PPI claims on 2 July 2014. However, Equity in Finance who pursued by PPI claims whilst I was in a IVA at the time have now asked me to sign 4 forms for them to pursue PPI on 4 other credit agreements which I was not aware of. If my IVA was completed last year, can they still pursue PPI claims from other organisations after my IVA has been completed. I did not intend to pursue any further PPI claims and just want to get on with my debt free life. However, Equity in Finance asked me to sign these forms and threatened me with "if I do not co-operate and sign the forms then they will close my file and inform my Supervisor that I have been un co-operative". I feel threatened by Equity in Finance and Payplan. What can I do ?

More to the point is "What can THEY do?". My feeling is nothing --- but best to wait for an expert opinion.

They will be unable to do anything to adversely affect you.

That said, you have in principle already agreed for them to reclaim PPI on your behalf for the benefit of your creditors in your IVA!

It is unlikely that you would personally be able to benefit from any future PPI claims, so that being said, is there any problem with you signing their forms?

However if Equity in Finance have threatened you then personally I would not help them at all!

This is why it is dangerous for IPs to grant completion certificates if there are outstanding PPI matters still to attend to. You could probably refuse to co-operate, but is it doing you any hard to sign the forms and return them now?

I do not see why I should complete more PPI claim forms now that I have finished my IVA. Equity in Finance simply wish to make more money from this and I will not benefit at all. I simply want to move on with my debt free life without the hassle from Equity in Finance. I have decided that if they do continue to harrass me, I will simply state that I was NOT missold PPI on these accounts and therefore they will not be able to claim for this. I understand that hardly any of my PPI award actually goes to my creditors, it is swallowed up by EIF and Payplan fees. I have emailed EIF and asked them to stop sending me threatening letters or else I will make a complaint to the Financial Ombudsman. Even though I have completed my IVA, I feel depressed due to EIF's continual letters. If EIF inform my Supervisor that I did not sign the forms, what can they do. I assume nothing. I also understand that any PPI claims after the IVA has finished would automatically go to me. Is this true ? I have decided not to have any more communication with EIF as they truly are making me depressed.

Hi Sue. You understanding that PPI claims post IVA would go to you is not correct. PPI is an asset which existed prior to and during the IVA and, as such, is an asset to be captured.

Hi Foggy, I have spoken to Payplan and according to them I have complied with my IVA and PPI Claims and the letter did not come from them. On the accounts which EIF refer to, I will simply inform them that the PPI was not missold to me and therefore they cannot make a claim and they should then leave me alone, hopefully. They can only claim PPI which was missold apparently.

Hi, Sue. I am in a similar situation as you are, in that I completed my IVA with PayPlan in June 2013 and I received my completion certificate in the December. This was explained to me in writing, and on my completion certificate, that it was on the proviso that any outstanding PPI claims would still need to be dealt with. I still receive forms from EIF, which I complete and return. It’s a bit of a hassle but it’s what is agreed. If you do nothing, there probably isn’t anything they can do but in my opinion, the spirit of the IVA should be followed. It’s not true to say that the majority of the money is kept by EIF and PayPlan and, in my, case, EIF have recovered a further £5,000 in PPI from a creditor I was certain had no PPI with. Foggy had a similar case to this. Also, I received over £500 interest which I would not have received had I not returned the forms.

I have to agree with posters on this. PPI is an asset, and luckily we came out of our IVA just before this all took off. I did have a refund of some £4000 that went into the full and final offer and was accepted.

Most of us had a lot of our debts written off so any additional monies due should go to creditors - we spent the money so why shouldn't they get as much back as possible.

I would agree with Mel - sign any forms and send them back. Yes the claims companies take a % but it's not our money, and you may be entitled to receive the interest back on any successful claim.

Thank you so much for all your input. Maybe it is much easier just to complete the forms and send them to EIF. It is just that there letter was so threatening, in that I had to sign the forms or else. I will have to give a lot of thought to this, but hopefully EIF will not come back to me on this.

Or else what? Ask them that question and see what they come back with!

I wonder what the consequence of not signing would or could be? Legally Melanie what could happen do you know as post has their certificate of compliance.

I am going to wait and see if EIF come back to me again on this and then I will enquire as to if I do not sign the forms what would be the consequence. The strangest thing is that Payplan said that they could not understand why I had received the letter as I had complied with my Arrangement and the PPI claims. I now wonder if EIF are not aware that I have actually received my Cert of Completion. I will check this out in more detail and let you know the outcome.

After I sent EIF an email informing them that if they continued to send me threatening letters that I would complain to the Financial Ombudsman, I received a very long letter from EIF today apologising profusely for the contents of the letter that they sent out. EIF clearly state "it was not intended to come across in the manner it has. Our apologies for any worry or upset that it may have caused you". They also state that they are under pressure from banks to maintain an agreed volume of cases. I am glad that I actually complained. They make no mention of me having to complete any further forms.

These type of companies and their attitude make me sick. They know very well the type of wording they use in their letters and the impact it has. That's why they do it. So people feel scared about NOT filling it in and so, do out of fear. They prey on the vulnerable. What is that word that describes someone who does that??????

I would guarantee that the proportion of people who complain instead of just filling it in, is VERY small

Then they have the gaul to send a "ohh sooooooo sorryyy, we didn't mean it....."blah blah blah blah

Sorry, Rant off. And Bravo for not just filling it in and challenging them