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Posted: Thu Oct 20, 2016 8:29 pm
by Ruth.k
Hi
I completed an Iva in august by offering a settlement
My former bank have offered me ppi payment and have asked me whether Iva was written on standard terms and the year the terms were written
Do you know how I get this information?
Posted: Thu Oct 20, 2016 8:35 pm
by kallis3
Hi and welcome,
You need to check your paperwork for both the original agreement and the completion letter if you have received it to see what it says.
Alternatively you could speak to your IP and ask.
Posted: Thu Oct 20, 2016 9:08 pm
by Foggy
Your proposal will say under what terms it was written.Either Protocol / R3 or whatever, if Protocol it should say (probably 2010 or 2014). It makes little difference really. What they are looking to find out is whether it was an "all assets" arrangement, in which case the PPI will be payable to your creditors, or whether it was a "defined assets" arrangement, in which case it might not be.
I would say that there is a 95% chance that the PPI will belong to your creditors as an after acquired asset.