IVA company warning legal action for PPI money mistakenly sent by them to me

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by Scottdj44 » Mon Oct 09, 2017 2:43 pm
Hi. I completed my Iva in 2014.. completion certificate received, credit file updated etc..
I then received a ppi cheque from a creditor who was in the arrangement.. around July 2015.
Cashed the cheque and thought no more of it!
Today, over 2 years later I received an email from my Iva company saying they had been trying to contact me as this money needed to be paid into my Iva and was sent to me by mistake!?
Been warned if I don't pay it back I risk my completion being revoked in the courts and my Iva along with all its restrictions reinstated?
Just wondered where I stand in all this? Thanks in advance for any help or info.
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by Foggy » Mon Oct 09, 2017 3:00 pm
Basically the PPI refund does belong to your creditors and should be paid to them and you might well have also signed a document to this effect. You will need to try to negotiate a payment plan with your IP to avoid the possibility of having to do so under an extension of the old IVA granted by the court (if such an extension is granted).
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