Our final payment of a 6-year IVA was made to MoneyPlus in April 2019. A short while after our final payment was made, we were advised that a company acting on behalf of MoneyPlus would be making claims for PPI refunds, despite these having already been done by ourselves several years previously. 9 months later and we are still no further on, and a conversation today with the company carrying out the PPI checks indicates that it will be March at the earliest before we hear anything further. We are naturally rather irked by this, and rather frustrated that it is only now that all our IVA payments have been made that PPI refunds are being (re-)sought, when there were 6 years prior to this time that these could have been pursued.
Impactwise, our business insurance is due for renewal, and as we were still in our IVA this time last year, the cost for the year was nearly five times what it would normally be if not in an IVA. As this is a new business, we are not able to afford the same cost for a second year running, and our only solution is an enforced hiatus.
Is there anything other than sit and wait that we can do to move the process along? Is this normal procedure? We would really like this all to be over and done with, so that we can move on with our lives?
This is not normal procedure. IP's are free to close IVA's and rely on the fact that ownership of the PPI refunds will rest with the IVA, after completion, as recently confirmed in court.
Some time ago the regulatory bodies collectively advised members that PPI refunds alone should not be a reason to delay completion.
I would write directly to the IP, by registered post (keeping copies), and formally complain. If no useful response, you can then escalate the complaint to their regulatory body, via the Government Gateway, here: https://www.gov.uk/complain-about-insol ... actitioner
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Good morning, I am sorry to read the points you have raised and would like to get the matter resolved ASAP for you. Please can provide details with your reference number and I will refer your case to our specialists to investigate the matter for you. Please advise a suitable time and number (If different to one we hold) for us to call you to look at resolving the issues you have raised.
If you would prefer to not add the details to the forum please email me details to ivatechnicalsupport@moneyplusinsolvency.com for the attention of Gary Barton.
