My IVA failed a few years ago after i lost my job. Termination letter was received and it has now been removed from my credit file.
When setting up my IVA I had a pension fund. I couldn't access it as I was too young - still am! Whilst in my IVA I was convinced by a third party to reinvest my pension. It turns out that this was a scam and it appears my pension is gone. It has been suggested that I have a case for pension mis-selling. I have contacted a solicitor and they want to proceed with a claim against the FSCS (appears that the IFA has disappeared).
They have advised me that I needed to check with my old IP to see if they would have a claim over this. The IP has responded that they would consider this to be an asset and as such should go into my failed IVA. I have asked for a copy of my IVA documentation and there is no reference to a trust or my pension.
I have a few questions:
I understand that this is the case with PPI claims, but is it also the case with a pension claim? I would like to re-invest this cash into another pension.
If this is the case and it has to be paid in, can I use it to make a full and final offer on the IVA even though it is failed?
How can creditors whom are no longer bound by the IVA rules also benefit from them?
Is my IP being completely impartial? They would get a cut of any claim for distributing the funds.