www.iva.co.uk

I am in trouble and have queries. I made full and final settlement on December 2013, not received completion certificate yet due to ppi. I need to move house. NRAM refused to give consent to let my property until I produce certificate of satisfaction. IP will not give certificate until all ppi claimed. 2 claims are on financial ombudsman so could take a year. House restriction has been lifted by ip. Now can I sell house, if I sell house do i have to share money with ip.

Until such time as you have that final certificate you are bound by the terms of the IVA. If you sell now they creditors may well want to get their hands on the equity. In cases where formal completion is held up due to PPI claims some IP's use a bit of discretion .... however, some don't.

Only your own IP can say which way they will jump --- and, if they agree to exclude the property ( i.e allow you to sell and keep the money) DO get it in writing!

Hi

It should not take nearly a year to sort out the PPI and the completion certificate

Press your IP, see if NRAM will accept a letter from your IP stating that the IVA is concluded but they are awaiting PPI refunds

Regards

This has probably been asked hundreds of times but when did this PPI clause creep in and why are people who started IVA's before this now having to suffer this delay? If it's not in your original proposal can you not just refuse and leave the PPi element out of things?

PPI hasn't crept in as such -- it has always been in IVA's as an asset ... it's just a new asset

You can refuse and the IVA will likely be failed