Does PPI go to IVA company if IVA completed 4 years ago?

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jacob
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by jacob » Tue Jan 15, 2019 11:06 am
Are banks legally allowed to pay upheld PPI claims to an IVA company, even after the IVA has been completed 4 years ago?
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Foggy
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by Foggy » Tue Jan 15, 2019 11:28 am
Yes. By virtue of recent court cases confirming the situation, PPI remains an asset of the PPI even after completion of the arrangement. It could be that your former IP decides that they have no interest in the refund in which case it will be returned to you. This sometimes happens if the IP considers it uneconomical to re-open old files and re-contact old creditors for the 15% share of the refund they themselves will be getting.
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