PPI claims while in an IVA

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lee151

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Post 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

MerlinL14

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Post 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.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues

Lisa Thomas

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Post 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.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

Foggy

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Post 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 !
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
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