Having completed my IVA 3 years ago would It be worth me making a PPI claim against various credit card companies that were involved in my IVA ? The ppi would have been cancelled before the Iva was started
my wife seems to recall that part of the Iva said there was a no ppi claim exclusion ?? Although i dont think there was ?
Any comments would be appreciated
No are likely to have signed PPI over to your IP before your IVA was formally completed, However, even if you have not, technically the PPI still belongs to the IVA as an asset that existed during the IVA ( albeit unrealised).
There is also the risk that, if you engage a claims company, the creditors could retain the refund to offset (not allowed to, but some do try and there is, as yet, no court precedent -- arguements are ongoing) or, more likely, they will send it direct to the IP. The upshot of either action is that you will not see the money, yet YOU will be liable to the claims company for their fee ( around 30% of any refund .. whether you get it or not). Safest option in this regard is to do it yourself.
Now, although the refunds belong to the IVA, it may well be simply uneconomical for the IP to draw files from archives to distribute the money to creditors and the IP will refund the money to you. A few firms are simply not interested in even thinking about it.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Speak to your former IP and see if they will agree to a deal. You reclaim the money and it can then be split between you and your creditors. However it is possible you did sign authority for the IP to claim the money so it could already have been done.
