I entered a Iva in 2011 I’ve now finished and received a completion certificate
I’ve been approached by a company to look into any potential ppi I have
I never considered this as I was aware that any money would go into my Iva and I could In turn be left with a bill from the claim company
I’ve since looked into this further and was hoping for some advice , my Iva contract states that
“All Of my assets at the date of proposal are being EXCLUDED from this proposal with the exception of any interest in my residential property”
Does this mean that even though ppi is a asset that non of my assets are not taking into account regarding my Iva which in turn means that any ppi would not have to be added to my Iva
I’m a little confused and holding out a lot of hope lol
Any advice would be appreciated
Thank you xx
kallis3 wrote:Unfortunately it will be due to your creditors unless you have paid back 100p in the pound plus fees.
Thanks for the reply
Can you explain why this would be if all my assets are excluded from my Iva
I’m struggling to see how in one way if the ppi is an asset and my assets are excluded from my Iva then surly it doesn’t get paid in then in the next instance it gets paid to my Iva because it’s an asset iykwim
I’m not doubting your answer just trying to understand it
The interpretation could, no doubt, be argued in court, at great cost to get a definitive ruling or you could put the arguement to your IP, claiming exclusion and he might well back down on the back of a badly worded clause.
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