www.iva.co.uk

Hi all,

I'm hoping someone can clarify a point that's causing me some problems at the moment. My IVA concluded in May 2014 and I am still awaiting my Certificate of Completion!!!! My IVA company (Moneyplus)assure me that this is all in hand and the delay is down to HMRC and the Court Case involving Tax Refunds on PPI's.
I have only ever had 1 PPI, which was all paid into my IVA, and have been told that I have to await the outcome of this Court Case in order for my IVA to be concluded.
I have tried to look up anything to do with this and have failed each time. My IVA company do not keep me updated and only tell me when I ring that this could go on for years and it is out of their hands!!!!!!
Could anyone please offer me a crumb of comfort that this is some kind of ruse and I have leave to conclude my IVA asap.

Many Thanks,

William

Hi. I cannot comment upon this particular problem save to say that it doesn't seem to be affecting any other firm !

I would suggest asking them for details of their regulatory body to lodge a formal complaint.

New one on me too.

Many thanks for both of your replies, they are greatly appreciated.

It doesn't ring true somehow, but I cannot see the reason why they would need to prolong my IVA!!!!

Asking for the details of their regulatory body to lodge a formal complaint, even now seems slightly confrontational and daunting.

I've paid £550 every month on the dot for 5 years and been a VERY low maintenance customer and just feel a little bit disappointed with the excuses I'm getting not to receive my Completion Certificate.

Moaning a bit I know, but any further advice would be gratefully received.

Many Thanks Again,

William

Hi William

Unfortunately, I do not have advice, just wanted you to know that I am in the same position with Moneyplus. I spoke with them the other week and they assured me that I had completed my IVA in April 2014, but due to PPI's that they are chasing (which I know there are no more) they have to keep the IVA open. My partner and I want to move house and get a joint mortgage (meeting this morning with bank). Moneyplus were happy for me to apply for a mortgage and were willing to write a letter to confirm IVA was paid in full, but said there was nothing more they could do until PPI's replies had all been returned and creditors were happy to close.

As you I am very frustrated that I have not got my completion certificate.

Janet

Income tax is due on the interest elemnet of any PPI compensation. At the beginning we would reimburse our clients 40% of the interest and they could then account to HMRC for the tax but nowe it is either deducted at source by the creditor or we account for it directly to HMRC. I have heard of no court cases.

Well as I guessed, unable to get mortgage until my credit score increases. Bank gave very helpful advice but nothing they can do until IVa off my record. Guess I will just have to keep chasing up my completion certificate from Money Plus.

Any further advice welcome.

Hi

This seems very unfair

I would lodge an official complaint with the IP using the companies complaints procedure.

Regards

I am in the same boat with GT. However, they have said they will give me 2 weeks to sort any outstanding PPI (of which I have absolutely no idea about as EIC do not contact me). If no further communication, then they will process my completion.

Interesting to see that Janet is having the same issues as myself BUT siorghra's company appear to be open to processing his Completion Certificate under the same circumstances.
I will most certainly take Mr DAVIE'S advice and see about now going down the complaint route. Its not my preferred option but I need to move on and this appears to be my only option to get things concluded.
Might I suggest that we both do the same Janet and maybe we can finally prod moneyplus to process our certificates.

Hi William.02

Good idea. I will contact Moneyplus again this week and see if they can give me a date of when I will receive my CC, but if I still feel I am not getting anywhere then I will go down the complaint route.

Good luck

Janet

Just spoken to Moneyplus, who have categorically refused to provide me with my Completion Certificate until this PPI Income Tax issue is resolved EVEN though i have only had one PPI worth £36 paid into my IVA!!!!!!!!!!!!!!
Surely they cant do this. A manager will ring me back in 48 hours BUT i have been told that they will also be adopting the same stance.
Ive informed them that i intend to make a complaint if this is not resolved and the attitude was....It wont change a thing so carry on.
Paid my dues and now feel that i'm being hung out to dry because Monelyplus aren't making any money on the back of me.
Extremely annoyed!!!!!!!!!!!!!!!!!!!

That's ridiculous - a deed of assignment for any future PPI's could resolve this and allow your CC to be issued.

May I ask, have you checked the wording of your IVA conditions and chairman's report as it may be stated in there that there is a limit on how long the IVA can be extended for this 'administration' period?

Worth a look if a time limit is stated?

In addition I have found in the past that those workers on the phone often state that a complaint will achieve nothing to put you off - only for a formal complaint to bring about a swift conclusion - definitely worth submitting to their regulatory body

Thanks, any advice is gratefully received. I haven't heard of a deed of assignment, but will certainly be asking for it when and if this manager rings.

Top forum, top advice.

Thanks Again.

A "Deed of Assignment" is how DFD closed my IVA quickly.

It effectively signed away all rights to any future PPI even after the certificate is issued so that DFD could close my IVA yet still ensure they could deal with PPI afterwards without needing anything from me.

I don't think DFD are the only firm to use these so your IP should be able to aswell.

Good luck