Can an IP claim PPI 4 years after IVA closure

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Meash1
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by Meash1 » Thu Jun 14, 2018 2:43 pm
Hi - I completed my IVA 4 years ago. Recently recieved notification that I’ve been awarded a small PPI settlement. Now been contacted by a company acting on behalf of Varden Nutell to claim this money. Is this correct?
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Lisa Thomas
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by Lisa Thomas » Thu Jun 14, 2018 2:58 pm
Yes I'm afraid so as a case in the Courts (Greene v Wright) has upheld that this assets belongs to the IVA on trust for your creditors.

Depending on the size Varden Nuttall may let you have it or may re-open your |IVA to pay the funds to your creditors.
Meash1
Posts: 3
by Meash1 » Thu Jun 14, 2018 3:02 pm
Lisa Thomas wrote:
Yes I'm afraid so as a case in the Courts (Greene v Wright) has upheld that this assets belongs to the IVA on trust for your creditors.

Depending on the size Varden Nuttall may let you have it or may re-open your |IVA to pay the funds to your creditors.


I am assuming that the fees payable to the people who claimed on my behalf are deducted and Varden only get the net?
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Foggy
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by Foggy » Thu Jun 14, 2018 3:07 pm
Meash1 wrote:
Lisa Thomas wrote:
Yes I'm afraid so as a case in the Courts (Greene v Wright) has upheld that this assets belongs to the IVA on trust for your creditors.

Depending on the size Varden Nuttall may let you have it or may re-open your |IVA to pay the funds to your creditors.


I am assuming that the fees payable to the people who claimed on my behalf are deducted and Varden only get the net?


Yes, VN will get the amount left after the claims company fees have been deducted. Creditors will then get a share of whatever is left after VN have taken their agreed fees !
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