www.iva.co.uk

Hi, We recently completed our IVA paying every installment over the 5 year period, we received a letter off Grant Thornton stating that they do not require any more money, but we are still to receive our certificate of completion. We are now getting extremely hassled from a company called EIC who want us to sign paperwork to claim our PPI, this paperwork is claimed to be sent to them from Grant Thornton and details all bank loan reference numbers. Am I right in thinking that this could actually be a way of making sure the unclaimed PPI goes to the creditors? (as we still haven't officially received the cert of completion) and I am I best to not claim any PPI until I receive the letter of completion?
Thanks in advance for any advice.

Hi there. The PPI question is right up in the air at the moment. PPI, even if claimed after completion and the issue of the certificate is due to be paid over to your creditors. Some creditors will admit the claims and keep the refund to offset the losses (which is why it is unwise to use a claims company as you might land yourself being liable for their commission.

I imagine, and only GT can confirm this, that your certificate will be witheld until PPI is claimed and paid in.

EIC Are working with GT as i refused to deal with them until GT vouched for them which they did but after reading all the horror storys about delays on completion letters because of PPI the chances of me agreeing to PPI without written assurances are pretty much nonexistant

Unfortunately, unless you agree or GT are happy for you to say that you weren't missold then your completion will be held up.

A lot of cases are being refered to the fos as the banks defaults to saying no (over 1000 a day). So your case could extend to 18 months whilst the FOS investigates your PPI claim. You can just say PPI was not misold that's down you, don't be bullied!

I think that your IP will take the view that they will not close your case until any mis-sold PPI has been properly reclaimed - so my advice is to either sign the forms as quickly as you can, or explore this directly with your creditors. Whether the money is rightly payable into the IVA or not, will be dependent upon the facts of your own unique case.

Hi, new to posting but not reading the forum. Couldn't believe it when I read your message - we're in exactly the same position with the same two companies. EIC rang my husband last night and we were very dubious, but we did speak with GT who said they were acting on their behalf.Basically, PPI reclaims are classed as an assest rather than a winmdfall.

GT can chase us for the PPI money even after a F and F was accepted and we're in the final stages of completion and if we don't agree to it, it'll hold up our completion certificate. Talk about hobsons choice. Good luck - sounds like we're both going to need it!!!

I'm afraid it's one of those things - GT are doing this at the moment. At least your payments have ceased, small comfort I know but you will get there eventually.