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?
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 !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Don't sign anything until you speak to your IP company.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
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.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
