Could you please advise. Both myself and my wife were in an IVA unfortunately the IVA was terminated after two years running owing to the fact that i lost my job owing to ill health and had been off work for over 12 months. we asked for help from the company dealing with our IVA to no avail. We were hoping that we could reduce our monthly payments. Since the termination two years ago. We were successful in reclaiming some PPI in the region of over £5,000 which was forwarded to the IVA company as apparently they still have an interest. Upon this information we contacted the company to find out who the monies were paid to. The response was that we no longer have an account and the monies would come directly off our debt. We have no idea where the monies have gone. We received our final statement of affairs before the success of our PPI Claims. Firstly, how do we find out where the monies have been deposited as we have been told we no longer have an account. Secondly, is it correct that the company have a so called 'Interest' but are unwilling to discuss with us any financial matter which refer to us. Please can you help. Thank you
Your former IP does have an interest in PPI refunds. These have to be distributed to your creditors, apart from fees and your IVA provider should be able to account for the money. I would make a formal complaint, direct to the IP and, if nothing is forthcoming, you can escalate this to their regulatory body.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
