Can an IVA be completed without PPI claims being finalised?

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wingingit
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by wingingit » Thu Feb 15, 2018 11:48 am
Hi all

we completed our final Iva payment 20th december 2017, we did the 6th year for equity and now we wait for the certificate of completion...

We've phoned them twice and both times the Ip says they are waiting on the result of ppi claim checks to complete...I think I'm most annoyed as we never took out ppi as back in those days my husband was self employed so we never took out ppi as it was pointless so there is nothing, but I understand they have to do it...

From our point of view we've been waiting forever for this time, We've had a 2nd child since we began the Iva and now both use a home office for work, our house is a rabbit hutch it feels like, our eldest is 9 and youngest 4, girl and boy, she needs her space desperately and we need an office not the understairs cupboard and just room to be a family not on top of each other the Ip says she understands this but "legally they can take up to 6 months..." So we stay trapped!

We've spoken to Zebra money and established that certificate is everything getting us the best rates and products being sooooo close to the end of it all now but we've seen a few perfect properties in the right area for school and budget for us and we could cry we feel so close but so far to selling ours and putting an offer in, one of the guys at zebra money gave us a rough idea of what we could borrow up to so we are looking within the budget but trapped by no certificate.

We've explained this to the Ip and she just keeps saying about the 6 months and that a ppi check is holding us up and she will chase red star the ppi people up, out of desperation searching online this morning I read that a legal agreement can be made with them that if it completes without the pii check finished any claim for ppi found they will be entitled to regardless of completion, I can't remember the name of it?

Hubby is going to phone the Ip and ask if they can arrange it but does anyone know how long it takes to set up if it's worth it?
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Foggy
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by Foggy » Thu Feb 15, 2018 12:19 pm
Most firms will complete based on the fact that PPI is legally an asset of the IVA, even after completion. Some want a Deed of Assignment, formally transferring the rights ( belt and braces job). There is no reason at all to be waiting on PPI search results and the regulatory bodies have said that PPI alone is no good reason to hold up completion.

A deed of assignment will take a few minutes to draft and a few minutes to sign.

I might add that I never took out PPI as well -- they found £8,000 !
wingingit
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by wingingit » Thu Feb 15, 2018 2:21 pm
Thanks Foggy I'll chase them up again!

so annoying! Even if they found £10000 they can keep it I just want our lives back, they are welcome to anything they find in exchange for freedom!
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Lisa Thomas
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by Lisa Thomas » Thu Feb 15, 2018 4:39 pm
I agree with Foggy - remind them you understand that PPI is not a reason to delay issuing the CC so for them to simply provide you with any necessary assignment documents or you will be making a formal complaint.
wingingit
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by wingingit » Thu Feb 15, 2018 6:33 pm
Thank you Lisa and Foggy,

my husband phoned our assigned Ip worker earlier and she said she'd never heard of deed of assignment before and that she'd have to talk to her boss monday and ask if they know about it!

Totally lost faith in them after that! She then asked him why we wanted to move house so badly, he explained our cramped living situation but I can't help feeling it's not tjeir business they should issue it asap just because its the right thing to do?! Wether she felt it was of some relevance in speeding things up I'm not sure?
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Foggy
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by Foggy » Thu Feb 15, 2018 6:47 pm
wingingit wrote:
Thank you Lisa and Foggy,

my husband phoned our assigned Ip worker earlier and she said she'd never heard of deed of assignment before and that she'd have to talk to her boss monday and ask if they know about it!

Totally lost faith in them after that! She then asked him why we wanted to move house so badly, he explained our cramped living situation but I can't help feeling it's not tjeir business they should issue it asap just because its the right thing to do?! Wether she felt it was of some relevance in speeding things up I'm not sure?



Might I ask which firm this is ?
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kallis3
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by kallis3 » Thu Feb 15, 2018 7:55 pm
Sounds way dodgy to me! Any company worth their salt would know what is going on with PPi. Hopefully you can get it sorted.
wingingit
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by wingingit » Thu Feb 15, 2018 11:47 pm
It's Duff and phelps, everything seems to have gone as it should the last 6 years it's just now it seems a little wonky :shock:
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Lisa Thomas
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by Lisa Thomas » Fri Feb 16, 2018 11:39 am
If you don't get a good enough response on Monday send them a written complaint and explain you are considering complaining to the Gateway as you have taken advice and understand that resolving the PPI issue is not a sufficient reason for withholding the CC.

Gateway is here if it gets that far:

https://www.gov.uk/complain-about-insol ... actitioner
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kallis3
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by kallis3 » Fri Feb 16, 2018 12:31 pm
Must admit it's not a company I know anything about. Do you know the name of your IP? If not, check on the Insolvency Register and it will tell you on there.
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