PPI claim against bank not in IVA

Get expert opinion. This is the place for new questions to be posted.
8 posts Page 1 of 1

Andy2502

Posts: 2
Joined: Mon Aug 12, 2019 7:29 pm

Post by Andy2502 » Mon Aug 12, 2019 7:42 pm
Hi,

I have read through some previous posts on the Forum about PPI and I can’t find a similar question but I apologise if this has been asked before.

I have submitted a PPI claim against a personal loan I had with a well known bank from about 20years ago. They were not a creditor in my IVA as the loan was paid off years before IVA’s even existed I think!

I have received a letter today from the said bank informing me that because I was previously in an IVA, they require all the IVA paperwork before they can investigate my claim. (IVA completed 2013)

My question therefore is am I required to submit this information to a bank who had no interest in my IVA as were not a creditor and their loan + interest etc was all paid back to them?

Hoping you can help - many thanks

Foggy

User avatar
Forum Expert
Posts: 29870
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Mon Aug 12, 2019 7:54 pm
If you want them to process the refund -- yes. They are simply exercising due diligence and checking where any refund should go. Following a recent court ruling it should go to the former IP to distribute to former creditors. It could be that the IP decides not to bother and will declare no interest, in which case the refund will be yours.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Andy2502

Posts: 2
Joined: Mon Aug 12, 2019 7:29 pm

Post by Andy2502 » Mon Aug 12, 2019 8:34 pm
Thanks Foggy for your response. Makes perfect sense. I just couldn’t understand their interest in the IVA as the loan was so many years before IVA started.

Have found a few similar posts so now understand that if anything is due, it would be considered an ‘asset’ so would go to creditors.

Thanks again 👍

magicsam

User avatar
Posts: 45
Joined: Sun Oct 21, 2012 10:14 pm
Location:

Post by magicsam » Tue Aug 13, 2019 12:31 pm
Just out of curiosity how did they know you had been in an IVA in the past, is it a standard question when you claim a refund?

kallis3

User avatar
Forum Expert
Posts: 75202
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Tue Aug 13, 2019 12:44 pm
My IVA finished in 2013 and I keep getting letters from Wilson Tarquin saying they understand I have been in an IVA - where they have this information from I don't know. Just gets binned.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

magicsam

User avatar
Posts: 45
Joined: Sun Oct 21, 2012 10:14 pm
Location:

Post by magicsam » Tue Aug 13, 2019 12:51 pm
That's interesting, it is a bit worrying to think that this information is being stored somewhere long after it has disappeared off of peoples credit files.

Foggy

User avatar
Forum Expert
Posts: 29870
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Tue Aug 13, 2019 2:32 pm
Tue Aug 13, 2019 12:31 pmmagicsam wrote:
Just out of curiosity how did they know you had been in an IVA in the past, is it a standard question when you claim a refund?
Just as claims companies profess to being able to go back 25 - 30 years, so, it seems can others -- I suspect there are archived records available somewhere.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

kallis3

User avatar
Forum Expert
Posts: 75202
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Tue Aug 13, 2019 5:14 pm
My letters are just binned now.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
8 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”