PPI - are we entitled to anything?

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by john795 » Tue Jul 31, 2018 5:33 am
My husband and I have just received our completion certificates for IVA. PPI claims are outstanding but recived a letter stating we are due a refund which is more than any unpaid debt.
IE: owed 23000, paid 19,000 over 6 years paid around 86% of debt. Refund due over 5000 are we entitled to a refund of difference
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by Foggy » Tue Jul 31, 2018 8:31 am
If there was any left over you would be entitled to it ... but to fully clear an IVA and have a surplus, you need to pay in the full original debt, plus fees and possible statutory interest. On a debt of £23k, that would be, without interest, in the region of £28k .... so there would be no surplus to be had.
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