Mis-sold endowment

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martin165

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Post by martin165 » Sun Sep 09, 2018 9:00 pm
Hi my IVA completed in 2016 certification granted, PPI checked for by the IVA company and nil was found. Stated in the final meeting any PPI assets paid will belong to the creditors , fair enough ! The IVA company never covered or asked about endowment policy’s. As I had a repayment mortgage with the IVA duration.
However I found I was sold an endowment policy which was surrendered in the mid 1990S , subsequently it was mis sold back then. Therefore after investigation I ended up with a payment for compensation of a mis sold endowment ( NOT PPI ) do they have a claim ?

luluj

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Post by luluj » Mon Sep 10, 2018 3:43 am
My understanding is yes they do have a potential right to it as it will be taken in the same light as PPI claims.

However, two years on I maybe tempted to tuck it away in my rainy day fund and move on with my life. Are we talking alot of money?
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Foggy

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Post by Foggy » Mon Sep 10, 2018 6:50 am
PPI, mis-sold policies, bank charge refunds and the like are all treated the same as PPI. They are referred under the blanket term "After acquired assets" and, so, are captured by your IVA. Like PPI the action the IP will take will depend upon his enthusiasm and the economics of digging up the old case and re-contacting all of the former creditors, if he or she is ever informed.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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