www.iva.co.uk

if I have completed and closed on my iva august 2015 but had ppi claims still going through which finally came through January 2016 after I had closed, the money was paid to my iva company but I had already closed, am I entitaled to receive any of this money back or does it go to my creditors even though ive closed???

Unfortunately, unless you paid back 100p in the pound plus fees then this money is due to your creditors. If there is anything left after that then it will come to you.

Hi and welcome to the forum.

As Kallis says unless you've completed your IVA paying back 100% of the original debt, the asset namely the PPI claim will be payable to your creditors.

The IVA creates a Trust, which continues after it's closure, for the benefit of the creditors and the moneys will be distributed among them.

Hi

I think it will depend on whether you signed an assignment of the PPI when your IVA was closed.

If not then I think it might depend on the outcome of the Green v Wright case due to be heard this summer which is disputing whether PPI refunds received post issuing of CCs belong to the IVA or the debtor.

If this goes in the favour of debtors then you might be able to claw this back from your IP but could be difficult if the funds have already been distributed by your IP.