Allay/PPI confused

[Jo.58]

Hi
Sorry I know this has been discussed today on another thread, but I'm a tad confused after reading up.

So hubby received his cc last Friday no problem from creditfix. Today email saying Allay will be in touch regarding ppi

So my question as he has got the cc is he still bound by the iva and has to co-operate?
When we moved from pjg creditfix did try to get him to sign the new t&c with the conditions around ppi but he didn't

Not that he doesn't want to cooperate just I read that once you have the cc you are no longer bound by the iva

Thanks
Jo

[luluj]

Yes you will need to be compliant re the ppi as it forms part of your iva agreement. Only when you have paid 100% of original debt plus fees and possible statutory interest would you not be required to pay ppi into the creditors pot.

[Foggy]

The PPI existed DURING or prior to the IVA and id therefore captured by it --- you are only released from things arising AFTER the completion date. This, of course, might change in the future, but, for now, PPI is an after acquired asset of the IVA.

[Jo.58]

Excellent thank you [:)]

[headbanger]

Was there anything in PJG paperwork about PPI

I didn't sign anything when the contacted me trying to change T&Cs.

Over weekend I will read my paperwork again plus that big red envelope that credit fix sent when we moved across explaining what they wanted us to sign up to to see if there are any holes in it

[walesdave]

I started my IVA in Oct 2010 and finished it with a F&F Oct 2015 - no equity in the house so no need to add on 12 months payments but we'd had some payment breaks etc. so it should have gone on to Feb / March 2016. I had 5 different PPI claims paid out after recieving my CC and the banks sent the money to my IP as I was still on the insolvency register. I called the IVA company and said my contract didn't have any mention of PPI in it so could I please have my money - and they said yes! About 8k in total...
This just makes me wonder why some people have to pay PPI and getting their CC through while I didn't...?

[luna]

Hi

We were with a company who never mentioned PPI throughout and had no clauses or any type of assignment.
I was waiting for this court case to be resolved but not sure if it applies.
Where would any payouts go?
Thanks

[Foggy]

Walesdave, some IVAs are "all assets" IVA's which capture PPI, some are "included assets" only, which only grab the assets listed. If you have reference to after acquired assets being included you are likely to have to hand PPI over.

For those few firms not grabbing PPI ... there might, one day in the future, be some sort of backlash from creditors, but this should then be your IPs problem to deal with.