PPI claim

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natasha484
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by natasha484 » Wed May 02, 2018 5:51 pm
I had an Iva that completed in 2012 and was cleared off of my record in 2013. I have a ppi claim which they are saying will go to my Iva supervisor. But legally my Iva doesn’t exist anymore? How does this work?
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Foggy
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by Foggy » Wed May 02, 2018 6:14 pm
The IVA did exist and the trust created by that IVA will continue. In law it is the debts that are written off not the existence of the IVA. This has been tested in court and ruled on by people far more knowledgable that us here on the forum.
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natasha484
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by natasha484 » Wed May 02, 2018 10:49 pm
But if the debts are written off after a 6 year period, how do companies have a record of what is still owed to them? My Iva completed 5 years ago meaning a company has to have my records on file for 11years so far
mariah9
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by mariah9 » Thu May 03, 2018 6:05 am
natasha484 wrote:
But if the debts are written off after a 6 year period, how do companies have a record of what is still owed to them? My Iva completed 5 years ago meaning a company has to have my records on file for 11years so far

Very real for me now :)
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Foggy
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by Foggy » Thu May 03, 2018 6:58 am
natasha484 wrote:
But if the debts are written off after a 6 year period, how do companies have a record of what is still owed to them? My Iva completed 5 years ago meaning a company has to have my records on file for 11years so far


Companies have to keep records by law. They will keep them for as long as the account is operating plus at least 6 or 7 years after the account ceases, which, in an IVA, is when the IVA completes.
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natasha484
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by natasha484 » Thu May 03, 2018 7:02 am
But prior to the court case last year companies thought Iva’s had completed once you had your certificate?
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Foggy
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by Foggy » Thu May 03, 2018 7:06 am
natasha484 wrote:
But prior to the court case last year companies thought Iva’s had completed once you had your certificate?


No they didn't -- it has always been the case, since PPI, reared it's head that the refunds belonged to the IVA even after completion. The case came about because a debtor thought differently and the IP defended his position and won.
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