Non disclosure

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nickjohn
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by nickjohn » Sun Mar 19, 2017 6:06 pm
As with many in an IVA the original paperwork was drafted and submitted to court by their IP.

After the recent court case I have received a generic letter covering that PPI payments remain vested within the IVA even after a completion cert has been given.

Fair enough, however it goes on to say that PPI is an asset of an all assets IVA and that whilst it might not be part of a defined asset IVA it is still a windfall and is included and that if it wasn't disclosed at the time the IVA was setup then steps will be taken for "non disclosure".

My point of all this is that it was the IP who wrote the IVA, based on their many years of experience, so how can they enforce non disclosure on you, especially when at the time you knew nothing about PPI. Additionally if you have chased PPI in the term of the IVA and paid money in how can you be held liable for non disclosure!!!!!
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Foggy
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by Foggy » Sun Mar 19, 2017 6:44 pm
As you say it is a generic letter -- one designed to frighten clients into co-operation and to obfusticate. They cannot have their cake and eat it too !

What follows is my opinion --- just a feeling, which might be wrong but ......

What they are trying to do is claim the PPI refund for the IVA ... now, in an all assets IVA it is theirs -- it is an asset. Now ... in a defined asset IVA it might NOT be theirs, so they are saying, in that case, it is a windfall. It is one or the other, not whichever suits their arguement. However, it might well take a court case to decide --Yes ANOTHER court case. So, they want to make you feel obliged to hand it over anyway, without fuss.
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nickjohn
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by nickjohn » Sun Mar 19, 2017 7:03 pm
Foggy wrote:
As you say it is a generic letter -- one designed to frighten clients into co-operation and to obfusticate. They cannot have their cake and eat it too !

What follows is my opinion --- just a feeling, which might be wrong but ......

What they are trying to do is claim the PPI refund for the IVA ... now, in an all assets IVA it is theirs -- it is an asset. Now ... in a defined asset IVA it might NOT be theirs, so they are saying, in that case, it is a windfall. It is one or the other, not whichever suits their arguement. However, it might well take a court case to decide --Yes ANOTHER court case. So, they want to make you feel obliged to hand it over anyway, without fuss.


the letter is intended to confuse, on the one hand it tries to clear up the status off PPI refunds as an asset of the IVA, which I have no problem with, and on the other it tries to get you to sign up to them making further PPI claims on your behalf with the threat that if you don't it's non disclosure.
They say that unless I agree that PPI is an on going asset of the IVA then they won't issue the completion cert (I've finished my IVA in Feb 2016) the only way to agree to this is to sign the letter giving them rights to chase my PPI again.....
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Foggy
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by Foggy » Sun Mar 19, 2017 7:35 pm
I guess it depends on the amounts involed as to whether it is worth a protracted and possibly expensive arguement. Personally I would assign the PPI to them and let them carry on.
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nickjohn
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by nickjohn » Sun Mar 19, 2017 8:40 pm
Foggy wrote:
I guess it depends on the amounts involed as to whether it is worth a protracted and possibly expensive arguement. Personally I would assign the PPI to them and let them carry on.


I know what you mean Foggy, it's more a principal issue nowadays, we've chased PPI no end over the last few years and recently sent letters out again (payments go direct to the IP if received). It's just the way they go about it that irks me and the way they try and deceive you into signing something.

As there is now a cut off date to make PPI claims I just wonder how they will get round not issuing completion Certs once the deadline arrives. We've been in this thing for 7 years so 2 more are a doddle..
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Foggy
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by Foggy » Sun Mar 19, 2017 8:49 pm
I am sure there will be other mis-selling claims, or similar, to pursue once PPI bites the dust.
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nickjohn
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by nickjohn » Sun Mar 19, 2017 9:40 pm
Foggy wrote:
I am sure there will be other mis-selling claims, or similar, to pursue once PPI bites the dust.


I suddenly feel sad :cry: :cry:
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