My IVA finished as of sept 2012 although the certificate states march 2013. As I had been in the IVA for 6 yrs my credit file is clear and I'm slowly starting to rebuild my credit rating. however I have recently attempted to reclaim ppi and whilst a few claims with Barclays have been successful ( they paid out after seeing my completion cert) there's one particular Barclays claim that has been forwarded to my IP. I have contacted the IP who has now been taken over by grant Thornton and he said that any monies received over £500 for 3 years AFTER the IVA has ended, MUST be paid to them? Is this true? 3 years seems ridiculous. The claim in question is from a mortgage prior to the IVA and how can Barclays pick and choose which goes to us and which to the IP?
No -- what you have been told is absolute balderdash !
From their reference to the £500 deminimis figure, the person you have been speaking to is thinking of a windfall --- these are in no way payable for any period after you have the completion certificate, as long as they arose AFTER that certificate was issued.
PPI is a completely different kettle of fish and is regarded as an Asset, and, 9 times out of 10 is payable into the IVA even after it has finished, as, arguably, the asset existed during the IVA.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I agree - if your IVA proposal included an "all-assets" capture clause, then regardless of when the receipt is made it is rightly payable into your IVA and you have a duty to notify your IP of such.
Creditors are getting far more savvy when it comes to paying out monies, and will search past IVA registers to see if people were at one time subject to IVAs. It is possible, however, that GT may have come up with their own commercial ruling, with regard to future claims, so although not technically correct, if this is their own policy then what their advisor mentioned may be true.
I would dig a bit deeper, boychild, and ask them where this ruling does in fact derive from.
