www.iva.co.uk

I received my certificate to close my IVA with Grant Thornton Aug2012. I then launched a ppi claim which resulted in a 12K payout. The bank sent the cheque to GT. I was advised that I wasn't obliged to pay any other monies towards the arrangement but if money was received it would be kept as this was clased as a contingency asset!... Is this a legitimate reason for keeping funds that I was advised were mine had the cheque been sent to me???...

PPI is an asset of the IVA and, as such, is payable into the IVA for the benefit of creditors. Although the payout arose after the IVA was ended, the asset existed before that .. during the IVA.

Had the cheque been sent to you GT could have sued for the money (if they knew about it) --- what the outcome would have been is anybodies guess, as this has never been tested in court.