How long after an iva finishes can you keep ppi claims. Or windfalls

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Chappie

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Post by Chappie » Mon Mar 25, 2019 6:54 pm
Hi All.

How long after your iva closes do you get to keep ppi claims and other windfalls.. Is there a cut off period? When do things start returning to normal after an iva? I know it's 6 years after the start of your iva for credit rating to improve. As you know I was in an iva 11 years finally completed in December.

Thanks

Foggy

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Post by Foggy » Mon Mar 25, 2019 7:34 pm
PPI remains an asset which belongs to creditors in perpetuity. Windfalls are yours, as long as they arose after the IVA completed, from right after completion. Credit ratings and PPI apart, things return to normality as soon as you have finished.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Chappie

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Post by Chappie » Mon Mar 25, 2019 9:33 pm
Thanks Foggy.

Would I get a letter from my ex supervisor. To let me know where the money has been distributed.. Do they have to let me know. This will affect the final dividend wouldn't it.? Would the final report need amending?

rhythmb

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Post by rhythmb » Tue Mar 26, 2019 5:00 am
Hey can I ask why did your iva last 11 years?

Chappie

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Post by Chappie » Tue Mar 26, 2019 7:33 am
Tue Mar 26, 2019 5:00 amrhythmb wrote:
Hey can I ask why did your iva last 11 years?
Hi

Various issues, redundancy twice, relationship break up.. Payment breaks..change of Iva companies. In hind sight. I would have gone bankrupt. It wouldn't have lasted so long.. But I wanted to keep my home, but lost it anyway.. Not because of the iva but a high interest secured loan. On the positive side it's finished now, and it's made me stronger. and the better for it. Lessons learnt the hard way.. I just wondered how long ppi was part of the iva.. Thought after it was completed it wouldnt be part of it.. I have had thousands already paid into. It. Had a letter from a company saying I could claim..but now. I know.. I won't be making a claim..Thunk I've paid my dues. Time to move on.

Foggy

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Post by Foggy » Tue Mar 26, 2019 8:04 am
They should be able to account for the monies. I would be insisting that they do --- I don't think they will amend the final report. Some IP's do return PPI refunds to you if they declare "no interest" (basically if uneconomical to distibute or they can't be bothered).
If you do not ask, I doubt they will let you know anything about it !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Chappie

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Post by Chappie » Tue Mar 26, 2019 1:26 pm
Thanks Foggy

I will definately be asking..
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