How can it be possible that PPI payment goes to creditors when IVA has finished

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by » Thu Dec 21, 2017 6:23 am
Hi we had an IVA which finished over 3 years ago. We paid a lump sum for which our creditors agreed with and we got our completion certificate a few months after the lump sum payment. I have just received letter from Yorkshire Bank (who was one of our creditors) re some PPI payments owing to me but the company, Debt Free Direct, who we dealt with are now in administration. I rang the company dealing with this Eperture and they say that my PPI payment has to go to my creditors and also any future PPI payments I may have How can they do this when everything has been settled and accepted? Is there anything we can do re us getting this money instead who I don't know? Thanks for any help
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by Foggy » Thu Dec 21, 2017 8:04 am
I am afraid that Aperture are correct in that PPI belongs to the IVA, even after completion. It existed during the IVA, albeit not known about at the time, and is therefore an asset of the IVA.

DFD are not in administration, but were purchased by Aperture as a going concern, along with the client base and existing caseload and all supervisory duties transferred to them. As the PPI will be taken by them I would leave it to them to apply for it ( you will, however, possibly still need to sign paperwork ). I wouldn't be doing any running around for them !
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