Partner's IVA coming to an end & miss-sold ppi

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by shelley423 » Thu May 11, 2017 2:03 pm
Hello so my partner coming to the end off his iva an hadn't realised he was miss sold ppi
Which he's in the process of doing he will get 15,000
His iva debt 1,500 an the iva people have told to him they will take the lot surely that is not right ?
They should only take what's needed ?
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by kallis3 » Thu May 11, 2017 2:21 pm

He will always owe the full amount of his original debt so I'm afraid the PPi may well have to be paid across in full. I take it £1500 is not his total debt?
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by Foggy » Thu May 11, 2017 2:58 pm
In an IVA you always owe the full original debt, plus fees and possible statutory interest. Only at the end is anything written off ( and even then any PPI claimed will be used to offset the write off).
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Michael Peoples
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by Michael Peoples » Thu May 11, 2017 3:37 pm
If he has repaid his debts in full plus costs then he would be entitled to the money. Otherwise it belongs to creditors.
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