Quick question, I offered a F&F on my IVA which was accepted in December. I have received my completion certificate. I have received a cheque today from Lloyd’s for an old loan account I had from 2012. It states they didn’t deal with the account properly and are refunded the interest and charges.
My question is, do I need to let the IVA company know about this and should it go to them?
Quick question, I offered a F&F on my IVA which was accepted in December. I have received my completion certificate. I have received a cheque today from Lloyd’s for an old loan account I had from 2012. It states they didn’t deal with the account properly and are refunded the interest and charges.
My question is, do I need to let the IVA company know about this and should it go to them?
It’s what confused me as it’s a refund due to poor account management . If my full and final goes through I’m surely entitled to keep the money as I will be no longer bound by terms of IVA... I hope!!
Wed Apr 17, 2019 7:33 pmAmos0616 wrote:
The loan account wasn’t anything to do with the IVA do not sure if this makes a difference
Wed Apr 17, 2019 7:37 pmPigger479 wrote:
It’s what confused me as it’s a refund due to poor account management . If my full and final goes through I’m surely entitled to keep the money as I will be no longer bound by terms of IVA... I hope!!
Wed Apr 17, 2019 7:33 pmAmos0616 wrote:
The loan account wasn’t anything to do with the IVA do not sure if this makes a difference
In theory this would be treated the same as PPI which, as confirmed by the courts, is still payable after the IVA has completed.
Of course there are several questions: How would the IP get to know of any refund? And, what could he do about it anyway? We can only speculate until such time as these things happen.
There is also the complication of the wording of the various agreements and Deeds of Assignment that might have been enterd into.
Al a bit of a minefield.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
