Can IVA company do ppi claims if iva finished several years ago

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phil752
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by phil752 » Wed Apr 04, 2018 11:21 am
Is it compulsory to do a PPI claim/allow the IVA supervisor to make a PPI claim after completion of IVA?
My IVA was paid off early several years ago and I've now had contact telling me to get in touch with my IVA supervisor from a PPI company associated with the company I had my IVA through.

Do I have to do this? Is it a compulsory, legal requirement?
Will it affect my credit rating?
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Lisa Thomas
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by Lisa Thomas » Wed Apr 04, 2018 11:31 am
What has prompted the letter from the Bank - have you applied for PPI?
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kallis3
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by kallis3 » Wed Apr 04, 2018 11:33 am
Hi,

It won't affect your credit rating but is an asset due to your creditors so you will have to let them sort it.
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phil752
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by phil752 » Wed Apr 04, 2018 11:41 am
Lisa Thomas wrote:
What has prompted the letter from the Bank - have you applied for PPI?


My bank haven’t contacted me. The PPI company associated with the IVA have. I haven’t done anything to prompt it
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phil752
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by phil752 » Wed Apr 04, 2018 11:43 am
kallis3 wrote:
Hi,

It won't affect your credit rating but is an asset due to your creditors so you will have to let them sort it.


The IVA was completed years ago.
Do i have to do this? Is it compulsory/a legal requirement? The FCA said that no one can make a PPI claim on my behalf without my authorisation. Is this correct?
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Foggy
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by Foggy » Wed Apr 04, 2018 11:49 am
I imagine they have re-visited an old claim and have passed details on to your former IP. The legalities of you co-operating depends on many things .... many of those in an IVA, at some stage, signed either a deed of assignment, vesting the PPI refunds in the former IP, or some other agreement regarding PPI and similar claims. Many of these agreements contained a clause saying that we promise to co-operate in any future claims and, crucially, the IVA can be voided for non-co-operation if the IP sees fit to take it to court (and the judge agrees).

In all circumstances the PPI still belongs to the IVA .. in some cases the IP has no interest in digging out old records and re-contacting the creditors, in which case any refund should be returned to you. Some IP's simply have no interest at all ! But a few will want the refunds (if any) to distribute.
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