www.iva.co.uk

Afternoon all, I got home to a cheque from
RBS for nearly £800 , no letter or explanation. I rang them and was told it is a PPI refund. He checked with customer service who said there will be a letter following which will have info ( he said it could tell me the cheque was sent in error?) so dont cash it until then.
Now my IVA finished in Feb so do I wait til I get the letter or ring Credfix now? I am sure they will wamt it? Although I think the payment would be a lot more than £800? I am very confuse do

Wait til you get the letter ... and then ....? Some on here would say "keep it -- CF will never know", others will say "It belongs to your creditors tell CF". Depends on your own moral compass, both choices have a degree of merit. Personally I would tell CF rather than spend the next few years stressing that it is going to come out of the woodwork --- I have had enough money worries to last a lifetime!

I would tell them for sure I don’t want to keep something that isn’t mine! It just doesn’t seem enough to be the whole claim and the rest have gone straight to Creditfix with just a covering letter to me

I agree with Foggy - let them know and your conscious is clear.

Fingers crossed for you recovering.

Would be nice wouldn’t it? i also had a refund on my old car tax! Money certainly finds money!!! I am gonna think it is not mine so then won’t be disappointed

He siad the letter should be with me by Thursday??? Obviously using snail mail! The other thing is I really dont want to ring Creditfix!! Everything takes soooooo long! Answering the getting someone who knows what they are doing!

recovering wrote:

He siad the letter should be with me by Thursday??? Obviously using snail mail! The other thing is I really dont want to ring Creditfix!! Everything takes soooooo long! Answering the getting someone who knows what they are doing!

Bit of a long shot and don't know how it would stand up if CF wanted to push it .... but you could write to the IP direct (recorded snail mail), making "time of the essence" by stating that, if you do not get a response within 21 days, you will assume they have no interest and that the refund is yours to keep.

That is an idea!

I would be of the mind to say nothing to anyone until I had seen the wording of the letter off RBS.

MerlinL14 wrote:

I would be of the mind to say nothing to anyone until I had seen the wording of the letter off RBS.

Agree -- it might head of the need for any enquiries.

Will update you when the letter arrives

Well i have just gound a previous letter from
RBS which states my PPI refund is £3602.60 made on the 16th July “ the amont takes into account the commission in excess of 50^ i have paid plus the interest applied to it ( 15% ) plus they have deducted tax due.
It then says we understand you were i. An IVA and it has finished.
It then says how it has the right to offset etc
It then goes on
1. The bank will set the payment off against any balance owed to thr bank by the IVA trust estate and
2. Any surplus will be made to your former IVA supervisor
However in the event your former IVA supervisor has confirmed they do not retain an interest in any PPI redress any surplus funds due after set off has been applied will be paid to you.....

It cannot use it to offset as your IVA has finished. Hopefully your ex IP will allow you to keep this money.

kallis3 wrote:

It cannot use it to offset as your IVA has finished. Hopefully your ex IP will allow you to keep this money.

They are aware the IVA was finished.. this letter came in July tbh I didn’t pay much attention to it just that it was £3602. I just found it and thought it may mean Creditfix have shown no interest and so this smaller amount has been sent to me?