Do my payments drop after PPI award ?

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craig
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by craig » Sun Mar 05, 2017 8:01 am
Hi I'm currently in an Iva total debt I owe is £9625 just been awarded £6660 ppi which they have had I'm currently paying £190 a month I've only been in the Iva 5 months my question is what happens now i.e. Do my payments drop, Iva shortened or should I offer final settlement 😳
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Foggy
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by Foggy » Sun Mar 05, 2017 11:33 am
Your payments continue as agreed. If you reach the total paid in of full original debt, plus fees and statutory interest the IVA will conclude early. Don'f forget, when working this out, that, of the PPI refund, about a third of this doesn't make it in to the IVA estate, being the claims company fee.
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