PPI

Get expert opinion. This is the place for new questions to be posted.
5 posts Page 1 of 1

PPI

User avatar
sue795
Posts: 1
Joined: Fri May 26, 2017 4:34 pm
by sue795 » Fri May 26, 2017 4:34 pm
I do not want to claim PPI and have been told I must apply my original agreement did not mention ppl
User avatar
Foggy
Forum Expert
Posts: 22413
Joined: Fri Dec 17, 2010 11:14 am
by Foggy » Fri May 26, 2017 4:43 pm
Hi Sue. I am afraid it doesn't have to mention PPI specifically -- PPI is classed as an after acquired asset (which it does mention in standard terms and conditions). You are also obliged to carry out to any reasonable request by your supervisr to maximise the return to your creditors.

Is there any reason you do not wish to pursue PPI ?
User avatar
kallis3
Forum Expert
Posts: 71189
Joined: Mon Mar 17, 2008 4:02 pm
by kallis3 » Fri May 26, 2017 6:12 pm
Unfortunately I think you will have to. It does mean that you can pay back as much as possible.
User avatar
Michael Peoples
Industry Expert
Posts: 14766
Joined: Mon Nov 03, 2008 12:36 pm
by Michael Peoples » Tue May 30, 2017 8:04 am
You normally do not have to reclaim the money as your IP will instruct a firm to do so. You do have to sign any required paperwork and as Foggy says it is a breach not comply with any reasonable request of the IP.
User avatar
Lisa Thomas
Industry Expert
Posts: 5559
Joined: Wed Dec 03, 2014 10:26 am
by Lisa Thomas » Tue May 30, 2017 8:37 am
If you don't cooperate you will be in breach of your IVA terms and it could fail as a result. Best to sign and let them deal with it. It might produce a better return for creditors and could potential (depending on the figures) be useful to you in reducing the balance if you wanted to make a F&F offer at a later stage.
5 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: ryan787 and 1 guest