Paid off bankruptcy and IVA full & final settlement, who has claim over my PPI?

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by anna210 » Sun Apr 29, 2018 8:33 am
After going through a horrific time and losing our business, the debts mounted up quickly and i was taken to court for bankruptcy. A court official suggested my husband buy me out of my share of our home. I contacted an iva company RE10. They took £40,000 and contacted creditors. All debt was resolved full and final payments. Also my bankruptcy was paid off to be cleared. More than 7 years later, after applying for ppi repayments, this company suddenly re appeared to make a claim on my bank for the ppi, which i had been offered, this was then given to this company and then i was informed of this. Could you please tell me if this is the correct procedures following bankruptcy/iva. Thank you for any advice or help you can give me.
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by Foggy » Sun Apr 29, 2018 9:18 am
Because PPI existed (albeit no-one knew abouit it) during the arrangement if it an asset of that arrangement and will belong to the creditors, even after the arrangement has long been completed. Some IP's have no interest in digging out old records, and, in some cases, it is simply uneconomical to do so, so they will return the refund to you (It does not belong to the IP). But, at the end of the day it belongs to creditors, as recently confirmed in a long drawn out court case (Green V. Wright).
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