I have an IVA and claim on payment protection insurance

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rudolph.ae

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Post by rudolph.ae » Tue Aug 17, 2010 10:17 pm
I have an IVA and I want to make a claim on payment protection insurance from one of my loans. Will this affect my IVA agreement?
 
 

Shining

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Post by Shining » Tue Aug 17, 2010 10:46 pm
Is your loan included within your IVA?
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

kallis3

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Post by kallis3 » Tue Aug 17, 2010 10:47 pm
Hi,

If you do make a claim and are successful you may find that the creditor in question keeps this money to offset against their debts. If they don't, then you will be expected to pay this money across to your IVA.

Either way it means your creditors will get a better dividend.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

MelanieGiles

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Post by MelanieGiles » Tue Aug 17, 2010 11:39 pm
Are you going to claim directly of the creditor, or use a third party who will expect to be paid a percentage of any eventual return - or worse still ask you to pay fees in advance?
Regards, Melanie Giles, Insolvency Practitioner
 
 

PoorbutHappy

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Post by PoorbutHappy » Wed Aug 18, 2010 9:19 am
My claim was made personally directly to Lloyds. They ignored my letter so I went up the chain to the Finiancial Obundsman.

For some reason they then did respond and I got £4K back. Was knocked straight off my balance, but it felt good! If I had needed to pay anyone, I would have been well out of pocket. Total cost, few sheets of A4, couple of stamps and envelopes!

Also made it easier to put a F&F forward, as I eneded up with around £6.5K knocked off my "owed" amount show in my original IVA documents.

PBH
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