PPI

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mark724

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Post by mark724 » Sat Dec 15, 2018 5:26 pm
I completed an IVA with Kingsgate insolvency practitioners on 6th Dec 2012 this was when the final letter was sent out and presumed having fulfilled my obligations to the IVA that any outstanding PPI claims after the IVA was completed were mine to pursue.Having received an offer of compensation a full month after the IVA had Finished a creditor refused to honour the claim, claiming it would be set against monies still outstanding with them If an IVA lasts 5 years and then is terminated on completion surely that means all outstanding creditor balances become nullified and that any PPI claims revert back to the claimant
 

Foggy

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Post by Foggy » Sat Dec 15, 2018 5:59 pm
PPI remains vested in the trust created by the IVA and is due to be shared, pro-rata, between former creditors, as recently confirmed in the courts. It should not, however, be retained by the creditors as an offset. However, bearing in mind that not many ex-IVA'ers are in a position to fight that action by the bank and, in any event, if they won the arguement, the money would not go to them anyway, most leave it at that. Personally I would at least lodge a complaint with the ombudsman --- he has no interest or jurisdiction on or over the IVA, but the creditor dodging repaying PPI is in his remit.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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mark724

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Post by mark724 » Sun Dec 16, 2018 10:14 am
Foggy wrote:
PPI remains vested in the trust created by the IVA and is due to be shared, pro-rata, between former creditors, as recently confirmed in the courts. It should not, however, be retained by the creditors as an offset. However, bearing in mind that not many ex-IVA'ers are in a position to fight that action by the bank and, in any event, if they won the arguement, the money would not go to them anyway, most leave it at that. Personally I would at least lodge a complaint with the ombudsman --- he has no interest or jurisdiction on or over the IVA, but the creditor dodging repaying PPI is in his remit.


Thanks Foggy,

like you said I am not in a position to contest it but will give the ombudsman I try
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