Spent PPI money

Get expert opinion. This is the place for new questions to be posted.
  • 1
  • 2
16 posts Page 1 of 2
Worried Sick
Posts: 10
by Worried Sick » Fri May 11, 2018 4:59 pm
My Iva finished over 6 years ago, and about four years ago when PPI was becoming big news, I used some templates from online and applied. I was successful and received money which I spent. At no stage was I aware that I should have told my old iva supervisor, but they have now been in touch saying they are sending me some forms to sign. Where do I stand as like my user name says, I am worried sick. Why didn't the banks pay the iva company if that was what they were supposed to do? I have no assets to speak of.
User avatar
Foggy
Forum Expert
Posts: 25905
Contact
by Foggy » Fri May 11, 2018 5:19 pm
Worried Sick wrote:
My Iva finished over 6 years ago, and about four years ago when PPI was becoming big news, I used some templates from online and applied. I was successful and received money which I spent. At no stage was I aware that I should have told my old iva supervisor, but they have now been in touch saying they are sending me some forms to sign. Where do I stand as like my user name says, I am worried sick. Why didn't the banks pay the iva company if that was what they were supposed to do? I have no assets to speak of.


I imagine that you are not alone in this predicament and, unfortunately, only time will tell what the reaction might be .. or weven if the creditors would declare that a claim had been previously lodged and paid out -- they may simply resoind with a "Hard luck, there is no refund due".

The only arguement I can come up with is that, back in the early days, even the IP's and so called experts in the industry did not know what to do about PPI outside of the IVA, so it would be inequitable to expect the debtors to be aware! Of course, even this arguement would be stymied if the debtor had signed a Deed of Assignment or some such, as many were asked to do.
User avatar
MerlinL14
Posts: 1283
by MerlinL14 » Fri May 11, 2018 5:20 pm
First off, did your IP at any time during closure mention PPI refunds? I doubt it as you say PPI wasn't 'a thing' 6 years ago. Don't sign anything, deny any knowledge of the PPI being an asset of the IVA in your period of being in an IVA. I doubt very much your IP has the time, will or legal backing to make you repay what you claimed back 4 years ago. I can understand it being worrying, but you can't be expected to conform to something that was not known about or even discussed over 6 years ago. I don't know if ignoring the letters is the best way forward, but I would certainly not sign any forms.
Worried Sick
Posts: 10
by Worried Sick » Fri May 11, 2018 5:26 pm
Foggy wrote:
Worried Sick wrote:
My Iva finished over 6 years ago, and about four years ago when PPI was becoming big news, I used some templates from online and applied. I was successful and received money which I spent. At no stage was I aware that I should have told my old iva supervisor, but they have now been in touch saying they are sending me some forms to sign. Where do I stand as like my user name says, I am worried sick. Why didn't the banks pay the iva company if that was what they were supposed to do? I have no assets to speak of.


I imagine that you are not alone in this predicament and, unfortunately, only time will tell what the reaction might be .. or weven if the creditors would declare that a claim had been previously lodged and paid out -- they may simply resoind with a "Hard luck, there is no refund due".

The only arguement I can come up with is that, back in the early days, even the IP's and so called experts in the industry did not know what to do about PPI outside of the IVA, so it would be inequitable to expect the debtors to be aware! Of course, even this arguement would be stymied if the debtor had signed a Deed of Assignment or some such, as many were asked to do.



No as far as I can recall, I made my last payment and my certificate of completion arrived soon after. As this was such a miserable time of my life, I have destroyed all the paperwork, I don't even have the certificate any more.
Worried Sick
Posts: 10
by Worried Sick » Fri May 11, 2018 5:28 pm
MerlinL14 wrote:
First off, did your IP at any time during closure mention PPI refunds? I doubt it as you say PPI wasn't 'a thing' 6 years ago. Don't sign anything, deny any knowledge of the PPI being an asset of the IVA in your period of being in an IVA. I doubt very much your IP has the time, will or legal backing to make you repay what you claimed back 4 years ago. I can understand it being worrying, but you can't be expected to conform to something that was not known about or even discussed over 6 years ago. I don't know if ignoring the letters is the best way forward, but I would certainly not sign any forms.


No, not that I recall, wasn't discussed at all. I don't know if I feel comfortable just ignoring it, surely they'd just summons me to court?
User avatar
kallis3
Forum Expert
Posts: 73008
Contact
by kallis3 » Fri May 11, 2018 5:36 pm
Some IVA companies do not bother going back over old PPI claims.
User avatar
Foggy
Forum Expert
Posts: 25905
Contact
by Foggy » Fri May 11, 2018 5:46 pm
Worried Sick wrote:
MerlinL14 wrote:
First off, did your IP at any time during closure mention PPI refunds? I doubt it as you say PPI wasn't 'a thing' 6 years ago. Don't sign anything, deny any knowledge of the PPI being an asset of the IVA in your period of being in an IVA. I doubt very much your IP has the time, will or legal backing to make you repay what you claimed back 4 years ago. I can understand it being worrying, but you can't be expected to conform to something that was not known about or even discussed over 6 years ago. I don't know if ignoring the letters is the best way forward, but I would certainly not sign any forms.


No, not that I recall, wasn't discussed at all. I don't know if I feel comfortable just ignoring it, surely they'd just summons me to court?[/quote

As I mentioned, no-one knows how far anyone will press this ..... If you simply refused to sign, they would have to weigh up the costs of taking it to court, which would, more than likely, over reach any refund they might have claimed .... however ... such a case would then set a precedent, as with the Green v. Wright case. The single case cost a lot, but will now be applied to every case going forward. There is always the possibiity that the previous claimes will not be revealed and, if they are, falling back to my earlier arguement could well work. BUT ... this is all guesswork I am afraid.
Worried Sick
Posts: 10
by Worried Sick » Fri May 11, 2018 6:02 pm
Foggy wrote:
Worried Sick wrote:
MerlinL14 wrote:
First off, did your IP at any time during closure mention PPI refunds? I doubt it as you say PPI wasn't 'a thing' 6 years ago. Don't sign anything, deny any knowledge of the PPI being an asset of the IVA in your period of being in an IVA. I doubt very much your IP has the time, will or legal backing to make you repay what you claimed back 4 years ago. I can understand it being worrying, but you can't be expected to conform to something that was not known about or even discussed over 6 years ago. I don't know if ignoring the letters is the best way forward, but I would certainly not sign any forms.


No, not that I recall, wasn't discussed at all. I don't know if I feel comfortable just ignoring it, surely they'd just summons me to court?[/quote

As I mentioned, no-one knows how far anyone will press this ..... If you simply refused to sign, they would have to weigh up the costs of taking it to court, which would, more than likely, over reach any refund they might have claimed .... however ... such a case would then set a precedent, as with the Green v. Wright case. The single case cost a lot, but will now be applied to every case going forward. There is always the possibiity that the previous claimes will not be revealed and, if they are, falling back to my earlier arguement could well work. BUT ... this is all guesswork I am afraid.


Thank you for your input. I will see what the letter says when it arrives, and will update on this site as this progresses if it is thought it may be of assistance to others.
justb1
Posts: 8
by justb1 » Tue May 15, 2018 11:10 am
Hi there
I am in the same situation as yourself. I too am now worried sick. I’m worried that if I don’t sign the forms what they can do to me, also worried that if I do fill in the forms this will trigger a chain of events that shows I’ve had PPI and spent it, and then what they will do to try and recover that money. My IVA finished in 2011. I claimed PPI a couple of years later. Most of the companies sent money to me. There was a bit of an argument at over one company who tried to send the money to my former IVA company, but when I said I’d finished my IVA they sent me the money, even though the IVA company claimed interest in it. Then in 2016 Lloyd’s Bank reassessed a claim. This time they sent the cheque to the IVA company directly. Que a whole series of emails with the company who then started asking questions as to where the money had gone from the PPI original PPI claim. Now fast forward to today, and like you I have all these forms, and today they’ve started ringing me. I just don’t know where to go to for help
Worried Sick
Posts: 10
by Worried Sick » Tue May 15, 2018 2:52 pm
This is what I don't understand. If we weren't entitled to the money, why were we sent it? Why did the banks not send it to the IVA company? I cannot recall PPI ever being mentioned in or at the end of my IVA, I don't think it even existed then,or I wasn't aware of it. Mine concluded in 2010 I think, but as I've destroyed all my paperwork to get rid of the memories, I can't even be sure when it finished. What a mess.
User avatar
Foggy
Forum Expert
Posts: 25905
Contact
by Foggy » Tue May 15, 2018 3:08 pm
As I have mentioned before, the fact that even the industry didn't know how to deal with PPI, which was only just surfaceing around 2009 / 2010 means they cannot expect you to have known.
Worried Sick
Posts: 10
by Worried Sick » Tue May 15, 2018 3:33 pm
Foggy wrote:
As I have mentioned before, the fact that even the industry didn't know how to deal with PPI, which was only just surfaceing around 2009 / 2010 means they cannot expect you to have known.


I'm having moments where I'm OK with it thinking what can they do, but then I think of the old saying 'innocence is no excuse' and start to panic. It seems a little strange that we Clear Debt customers are getting letters from someone who has apparently retired. It all seems odd.
User avatar
kallis3
Forum Expert
Posts: 73008
Contact
by kallis3 » Tue May 15, 2018 4:16 pm
David Mond has retired
Worried Sick
Posts: 10
by Worried Sick » Tue May 15, 2018 6:18 pm
It seems strange that we are getting letters from him if he has retired. I have read that Clear Debt IVA 's prior to 2016 were sold to Aperture, would this include completed IVA' s? If so, why am I being contacted by Clear Debt and not Aperture?
User avatar
kallis3
Forum Expert
Posts: 73008
Contact
by kallis3 » Wed May 16, 2018 10:37 am
No idea on that but I do know he has retired.
  • 1
  • 2
16 posts Page 1 of 2
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 43 guests