Have just found out that although my IVA was completed in Feb this year, I am bound by a trust and have to pay any PPI to them. Fair enough re this. My question is does the trust only extend to PPI or does it cover any windfalls or monies from my pension funds as hope to retire in 3 years or so and I have a reasonably good pension. I cannot recall being told this about still being in a trust. Does this ever end? Thank you
It applies to PPI refunds, or similar (miss-sold mortgages, packaged bank accounts, duff life insurance, that sort of thing ). Pension proceeds, in the normal course of business, would not fall into that category, nor do windfalls or inheritances that originate after the end of the IVA. PPI is captured because it actually existed (albeit not known about) during the IVA.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
