Worried Sick wrote:Just thinking with lots of people being sent forms for their IVA companies to start claiming PPI. When I signed up for my IVA it was with the promise that I would be debt free in 5 years if I successfully completed it. Now they're chasing me to complete forms when I thought it was all done and dusted. Wonder if there will, be a people's champion on this? It will surely make people cautious of taking one in in the future.
Handing over PPI does not relate to being debt free --- at the successful conclusion of an IVA you are debt free in that the debts you had entering the arrangement are written off. Devil is in the detail --- IVA's only concern themselves with unsecured lending.
Ultimately the devil will be in the detail but if there are case IVA companies only have themselves to blame - if they were really honest when people were signing up it would put them off.
With some of the PPI posts on this board at the moment there are only 2 groups that will benefit - the PPI company and the IVA company.
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