PPI money

Get expert opinion. This is the place for new questions to be posted.
5 posts Page 1 of 1
User avatar
mary942
Posts: 2
by mary942 » Sat Jan 26, 2019 8:17 am
I am being told that I have in excess 25k in PPI, company who’s done the research are taking 50% that I thought was a bit extreme, my total debt on my IVA is 12k which I have been paying off for the last year,
How much money do you think I will need to pay off once the banks have paid up?
User avatar
Foggy
Forum Expert
Posts: 27950
Contact
by Foggy » Sat Jan 26, 2019 9:37 am
Have this company actually done the research -- or are they just playing you with the promise of money ??? Do they know that you are in an IVA ?

The usual rate of 30% is extortionate --- 50 % is CRIMINAL !!

There is a very real possibility that any creditor will pay the claim direct to your IP and them YOU will owe them the 50% fee, from your own pocket !!

The sum required to settle the IVA in full will be the full original debt, plus fees and possible statutory interest. less what you have paid in so far.

Your IP will investigate PPI in due course, safely .... tread very carefully !
User avatar
kallis3
Forum Expert
Posts: 74021
Contact
by kallis3 » Sat Jan 26, 2019 9:50 am
Don't sign anything until you speak to your IP company.
User avatar
kallis3
Forum Expert
Posts: 74021
Contact
by kallis3 » Sat Jan 26, 2019 9:50 am
As a point of interest - who is this company?
User avatar
MerlinL14
Posts: 1588
by MerlinL14 » Sat Jan 26, 2019 1:23 pm
As Kallis says Don't sign or verbally agree to anything until you have spoken to your IVA company, really don't!! You could end up seriously out of pocket and deeper into a debt situation you are attempting to get out of.
5 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 23 guests