We started our IVA in June 2004, I thought it was finished. No idea what PPI report is about

[Gayle.03]

We started our iva in June 2004, completed all payments, due to change in housing market we couldn't remortgage, variation not to remortgage was agreed, we were told we were now debt free and completion certificate would be with us within six months. Now July 2014 and received a annual report to creditors stating that ppi would be Pursued with debtors, no idea what this is about? I thought it was finished

[Michael Peoples]

You need to speak to your IP and see if the closure can be speeded up. You may be able to sign an assignment of the right to reclaim and your IP can then close the file.

[Gayle.03]

Thank you for your advice, we haven't heard anything from dfd in 2 years other than a cat issue was holding up our completion the first I knew about ppi was in the annual report I received this week, I really thought it was over, is this likely to go on for long as it's now been 9 years since we entered into the agreement?

[Michael Peoples]

Contact Judith from DFD who posts here. This seems to be far too long and I am sure DFD would be happy to speed up the closure of your file.

[MelanieGiles]

It seems odd that your IP firm have not been discussing their strategy for needing to investigate any mis-sold PPI with you - especially as you were anticipating that your case would be closed by now. I am afraid that this is an issue which is effecting most IP firms now, and whilst it must be immensely frustrating for all parties who are awaiting completion certificates, nevertheless the IP has to continue with their duty to investigate and realise all assets which are rightfully captured by the terms of the arrangement.

[Gayle.03]

Thank you for your replies, I'm a bit confused, does this mean that the iva is not over, we were told by dfd in a phone after our variation meeting to agree that we could not re-mortgage that we were now debt free, it's really upsetting to think this is still ongoing 4 years after it should have finished

[MelanieGiles]

It seems that your case is still open Gayle, but you shoulde confirm the exact position with your own IP. Does your name still appear on the insolvency register?

[Gayle.03]

I checked the register last night and it's still there, they told me all I was waiting for was the completion certificate, I then got a letter saying there was a delay due to vat issues, bearing in mind this was 2 years ago I'm really worried, is it right that it's still open after 9 years?

[MelanieGiles]

It doesn't sound right Gayle, as most firms dealt with their PAYMEX VAT issues some time ago. I would try and arrange a face to face meeting with your IP to see if you can get further clarity on how long this is all going to take.

[mike523152]

Have to say that whilst I appreciate that we are in IVA's for differing reasons, it is beyond comprehension that "Completion" doesn't mean completion, personally I settled my IVA early and paid a lump sum, there was a creditors meeting held and my offer accepted in full and final settlement, now some 14 months I still have no certificate and have had to sign a new agreement relating to PPI in order to have the certificate issued. Now I am really struggling to comprehend, how, after a contract has been agreed and accepted by all parties and consideration has been made that I can be legally or otherwise expected to enter into additional agreements and that quote, received this today " Failure to remit the funds to us for the benefit of your creditors will constitute a breach of the arrangement" I can't breach an arrangement that has already been settled in accordance with the terms of the IVA originally entered into and how can they ask me to sign a variation agreement after settlement.

[Borneo]

I have just read your post and totally agree with you. This is exactly the reason why I decided to post on here in the first place.
We also had a F@F agreed December 2012.(with PPI).
Prior to this we had a variation meeting in June 2012 to agree to the VAT issue.
This was following 60 payments being completed March 2012 following some delay because of husbands redundancy. (Unable to remortgage)
We now have just signed paper work to agree to other PPI that could be claimed so we are not delayed any further. (Why this wasn't picked up at our F@F in December 2012 I shall never know!).
We have another meeting in August for creditors to agree to our Completion Certificate being issued whilst PPI claims are sorted.
So no...Full and Final doesn't mean what we think it means. Our frustration and annoyance is the time delay on every decision made... which we are sure breaches the original contract that we signed back in 2006!

[mike523152]

I did get some feedback from one of the IP's on this forum, but it didn't stack up, a contract is a contract and once consideration is paid it is legally binding on both parties. I guess the answer is to take legal advice, but not easy when your in an IVA. What I really don't understand is how, having completed under the terms of our revised arrangement, i.e lump sum payment in full and final settlement I can still be contractually obligated by it's terms, it makes no sense.

[taralily]

I've been reading the posts, I completed my IVA in January, but still have not received a completion certificate, they insisted on contacting all my creditors to claim back PPI - I did tell them that I NEVER had any PPI on anything as I always refused it but they would not listen and are still chasing my creditors for refunds, it appears that things will go on and on.

[Foggy]

I have several issues over completion and closure:

In an arrangement that has run it's course, there are provisions written into the contract for extensions. I get the impression that these are, more often than not, simply ignored and overridden. If they are not adhered to the contract terminates as per it's terms.

If the arrangement is terminated early, then the new terms as agreed in the variation should be applied. If the words "Full & Final" are relied upon, then that should be the end of the matter. If a specific sum is referred to for settlement and that sum has been paid, then that should be the end of the matter.

If the creditors have accepted the sum of £xxx in full and final or simply in settlement to allow the arrangement to be closed, then there should be no need to pursue or pay in further PPI refunds (unless these have been catered for in the variation).

If, under the terms of the arrangement as varied, or simply by mutual consent, PPI is to be followed up, this can be done under the continuing trust, often referred to as a "Gallagher Trust", following a court decision in 2002. I gather that this isn't ideal for the IP, so a Deed of Assignment could be executed if need be. In any event, there is no need for PPI to delay completion.

As has been said, this, mostly, boils down to contract law and should be challenged where the IP is acting contrary to the agreed terms.

As has also been said, these issues do need to be challenged, in court, if need be, but many ex IVA'ers do not have the resource to do this.

There is no whitewash answer either way and every case has to be looked at on it's own merits. A good IP will listen to reasoned arguement, and might well have an excellent reposte, but COMMUNICATION does flatten many of the bumps along the way.

Edited to correct typos (well, the ones I noticed) [:I]

[Foggy]

Taralily -- to be fair -- I was also adamant that I had no PPI --- but I agreed to let them look (after all they were happy to waste their time and money! ) --- they found over £8000 worth !! So a worthwhile exercise after all.