PPI claims while in an IVA

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1
User avatar
lee151
Posts: 4
by lee151 » Mon Jul 09, 2018 12:28 pm
Hi there I'm in the last 8 payments of my iva and have found out I'm due some PPI payments from previous loans I've had this money back but didn't put it back into my iva. Now my iva company have been in touch saying they need to find out if I'm due any PPI to put back into my iva. Is this trouble for me or complicate my iva?? I will pay it into my iva if it does out of my own money
User avatar
MerlinL14
Posts: 1490
by MerlinL14 » Mon Jul 09, 2018 12:47 pm
I am surprised the payee didn't make the necessary checks to see that you are insolvent before paying you directly! You need to come clean to your IVA company, speak directly with you IP rather than a desk jockey as he/she will be more understanding and have answers immediately to hand.
User avatar
Lisa Thomas
Industry Expert
Posts: 7036
Contact
by Lisa Thomas » Mon Jul 09, 2018 1:41 pm
The PPI money should have been handed over. Have you spent it? You need to come clean and be prepared that you have likely breached your terms and could be at risk of he IVA failing so may need to extend your IVA period to find time to repay the PPI monies if you haven't kept them.
User avatar
Foggy
Forum Expert
Posts: 27289
Contact
by Foggy » Mon Jul 09, 2018 3:15 pm
PPI refunds belong to your creditors. Keeping it could see your IVA fail, which would be tragic at this stage !
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 31 guests