[mary942]

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?

[Foggy]

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 !

[kallis3]

Don't sign anything until you speak to your IP company.

[kallis3]

As a point of interest - who is this company?

[MerlinL14]

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.