www.iva.co.uk

Hi

I my IVA ended in December 2012. As of yet I have still not received my completion certificate.

I was told it could take 3 - 6 months. It is now almost 7 months and I am no nearer to receiving it.

I have phoned DFD multiple times and keep getting told that they are waiting on Equity in Finance to finalize PPI claims with my creditors and that they would get Equity in Finance to call me, in the meantime DFD would send me a conduct letter.

Three times I have called in the last 6 weeks and three times I have been given the same information. In each case I haven't received the letter of conduct.

Today I have been told by Emily at DFD that Equity in Finance have advised DFD that they never received my PPI claim pack back in the post from myself. I sent it over 12 months ago and only now are they saying they haven't received it. This could potentially out me back months.

My IVA started in August 06, almost 7 years later and it is still on my credit report. I am in the process of launching my own business and this really isn't helping me in more ways than one.

Can anybody give me any advice on what I can do to get the IVA removed from my record and put this behind me.

Out of an initial debt of £50K, I have paid back £36K and managed my IVA impeccably.

It is almost as if DFD really don't care now that my IVA is finished but it will never be over for me until it is removed from my credit file and I have a certificate of completion.

Thanks

Simon

Hi mulder and welcome to the forum

I am afraid that if you have PPI mis-selling claims to make, and that this money is rightfully an asset of the IVA, then the PPI investigation will have to be concluded before your case can be properly closed. Hopefully, given the confusion about your documentation, this can now be escalated by both firms involved in your case.

Thanks for the reply Melanie. I am actually not sure why the forum has me down as being new as I have been a member for a couple of years and posted before. Bizarre.

Anyhow, thanks again for the reply. Do you have any idea how ling these PPI claims take once the completed paperwork is received? and also how much of any PPI received goes to the creditors.

It seems strange to me that the creditors would be requesting this PPI when it wasn't part of the original agreement. I realise this now falls under the umbrella of windfall payments which is a very convenient catch all term. But I can't help but think that the importance of claiming this money is more a way for both the IVA company and the PPI claim company to make more money for themselves.

I am very interested to see a breakdown of what is actually claimed and how much goes to the creditors and how much to third parties. I do hope a breakdown of such is provided.

Thanks again Melanie

Simon

Hi Mulder,

Please email me directly with your full name and address (email address in my profile) and I will be able to review your case and provide you with more information.
Please include your forum name on your email.

Thanks

Hi Mulder sorry to hear of your delay in receiving your CC.

Perhaps DFD now need to start taking the complaints against EIF seriously because it does seem from the postings and from my own experience that EIF for some reason are not communicating with DFD! This in turn is now leaving many people in limbo waiting for what is rightfully theirs.

Judith perhaps this should be taken to Antoinette and the other powers that be at DFD and questions asked as to why EIF didn't alert anybody to the fact they hadn't allegedly got the relevant packs until it was brought to their attention over a year later!

Thanks Judith. I have sent an email to the address listed although my receipt says it has been read by a lady called Nicola Cunliffe.

Thanks for your input Orchid. Very valuable.

Just to be clear - PPI mis-selling claim proceeds cannot be treated as windfalls. They can only be grabbed by your IP if they truly are assets defined in the IVA proposal, or referred to collectively in an "all-assets" case.

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles

Just to be clear - PPI mis-selling claim proceeds cannot be treated as windfalls. They can only be grabbed by your IP if they truly are assets defined in the IVA proposal, or referred to collectively in an "all-assets" case.

... unless you are bullied by your IP into believing the IVA might be failed for non-disclosure of such assets at the outset !!

I personally don't believe that would hold water if tested --- but we are in no position to try.

So if the PPI miss-selling claims cannot be treated as windfalls then that surely means that I am entitled to make the claim for myself. I am therefore also allowed to do what I wish with any refunds seeing as the claim for PPI mis-selling wasn't part of my original proposal.

Is this correct?

You are fully entitled to make the claim yourself mulder, but make sure you check who is entitled to receive the sales proceeds. I would not just assume that the PPI money was not included in your IVA, I would seek confirmation of this from your IP.

Hi Melanie

Thanks for the reply. When I spoke to DFD a few months ago and mentioned that the PPI wasn't taken into account in my original IVA proposal, the response I was met with was... to paraphrase

"Any outstanding PPI claims fall under the category of a windfall payment and we are therefore entitled to claim it on behalf of your creditors"

When I asked if I am entitled to any, I was told that DFD would take their fees, Equity in Finance would take their fees and the remainder would go to the creditors. If there was any surplus after that, then I would receive it.

Seems to me that the whole process is geared towards DFD and EIF making more money from us.

As a side note, I emailed Judith Anderton as per her request above. The email has been read by two people now, Nicola Cunliffe and Matthew Singleton, neither of who have acknowledged it.

Still no reply or acknowledgment of my email from either Judith or anybody else at FairPoint.

But PPI claims are not windfalls, as evidenced by the recent regulatory guidance note issued to all IPs. Get them to quote you chapter and verse, from your own proposal, what wording or clause they are relying on.

Both Judith and Matthew are experts who post on the forum, so perhaps they can clarify this on her for the benefit of other DFD clients as well.

Thanks for the reply Melanie. I have just received a response from my supervisor. This is what it says.

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>I have spoken to Equity in Finance (ElF) today regarding the progress of the PPI
investigations on your case.ElF have advised that they have not yet received a completed PPI pack from you and therefore they are not able to proceed with any investigations at the moment.

With regards to investigating the mis-selling of PPI, it is the duty of your Supervisor, to
maximise any .recoveries of funds that can be introduced into your IVA and ensure that we
challenge creditor claims where we can. By introducing these funds you will increase the
dividend payable to your creditors. Your PPI claim amounts to a pre IVA asset which is an
arrangement asset unless your IVA specifically excludes the claim. At the point of entering
into your IVA, it was not known that funds would, or would not be available from the misselling
of PPI.

I have arranged for a new PPI pack to be sent out to you so that we can begin the
investigation as soon as possible, once ElF receive the returned pack. Unfortunately, we
cannot proceed with the completion of your IVA until all PPI investigations have been
finalised.
Please feel free to contact me should you require any further information.

Does this sound right to you?

Regards

Simon

Well I asked the question about where it appears in my proposal and was met with the following reply.

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Section one of the Variation Report includes PPI at a nominal value of £1 and the
subsequent footnote states:
"The PPI position is being reviewed in cooperation with the debtor. The value is unascertained and included for a nominal value of £1."

As previously advised, we are unable to progress with the completion of your arrangement until the PPI investigations have been finalised.

I was also sent a copy of the variation report from December 2012 which was the report sent to my creditors about finalising my arrangement.

I am not sure if this is enforceable or not?

Any ideas Melanie?

Simon