We finished our IVA in the beginning of the year and received our completion certificate. MBNA wrote to me and said I might be owed PPI. I filled in the forms and then they wrote back to ask for our IVA proposal. Should I post it to them and will they give me the money or pass it on to my supervisor or will they keep it themselves? Thanks for your help!
Usually provisions in the IVA terms will stipulate that if a PPI payment was to be received and it was a claim from one of the creditors within the IVA, then the full sum of that payment will need to be distributed between the creditors. Only in the case that the FULL sum of the original debt plus costs has not been paid.
MBNA need to see the IVA proposal, and associated Chairman's Report I imagine as well, to identify who the beneficiary of any successful claim would be. You should sent this to them, as without this the claim could well be delayed. If your IVA proposal contained "all-assets" provisions, the monies will most likely be payable to your former IP, for the benefit of the IVA creditors.
