PPI

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PPI

Pigger479
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by Pigger479 » Tue Dec 11, 2018 8:38 am
Hi everyone,

I’ve received an unexpected letter in the post from an old creditor (not in my IVA) saying I’m due a a £69 refund and have enclosed a cheque. Do I need to cash this then pay it into my IVA or do I get to keep it?

Thanks
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Foggy
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by Foggy » Tue Dec 11, 2018 8:46 am
Most IP's treat PPI refunds as an asset, rather than a windfall, so you don't get the £500 trigger. However, for £69 the IP might well leave it with you. You need to ask your IP.
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Lisa Thomas
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by Lisa Thomas » Tue Dec 11, 2018 12:03 pm
Just ask your IP, to cover yourself but they won't be interested in £69.
Pigger479
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by Pigger479 » Tue Dec 11, 2018 12:36 pm
I have spoken to them and they want me to send the cheque directly into them... I can’t see how it’s going to be beneficial as it’s made out to me but they are inisisting that I send it to them
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kallis3
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by kallis3 » Tue Dec 11, 2018 2:40 pm
Let them have it - they can't cash it anyway.
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Foggy
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by Foggy » Tue Dec 11, 2018 2:54 pm
Although made out to you, your client account at your providers will be in your name, so the cheque could be paid into that account.
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Lisa Thomas
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by Lisa Thomas » Tue Dec 11, 2018 3:45 pm
Lisa Thomas wrote:
Just ask your IP, to cover yourself but they won't be interested in £69.


Sorry I had assumed your IVA was closed, but assuming it isn't then yes your IVA estate will likely be entitled to these funds and you have a duty to cooperate.
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kallis3
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by kallis3 » Tue Dec 11, 2018 4:24 pm
I do wonder - is it worth it for that amount?
Pigger479
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by Pigger479 » Tue Dec 11, 2018 6:19 pm
kallis3 wrote:
I do wonder - is it worth it for that amount?


My girlfriend has cashed it before i had chance to tell her not to! Will they be ok if I make payment once it’s cashed?!
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Foggy
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by Foggy » Tue Dec 11, 2018 6:20 pm
Pigger479 wrote:
kallis3 wrote:
I do wonder - is it worth it for that amount?


My girlfriend has cashed it before i had chance to tell her not to! Will they be ok if I make payment once it’s cashed?!


You will probably now have to evidence the amount you send them --- the covering letter might do if it refers to the amount.
Pigger479
Posts: 77
by Pigger479 » Tue Dec 11, 2018 6:31 pm
Foggy wrote:
Pigger479 wrote:
kallis3 wrote:
I do wonder - is it worth it for that amount?


My girlfriend has cashed it before i had chance to tell her not to! Will they be ok if I make payment once it’s cashed?!


You will probably now have to evidence the amount you send them --- the covering letter might do if it refers to the amount.


Yeah it has a break down on the letter so I will just forward that to them
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