I have an IVA through payplan, which has been runninh for 7 years and has approx 3 years left. Some of the credit cards which I am still paying had PPI in them. Am I in a position to start a claim against them?
I agree with Judo - I rather think this has been a debt management plan rather than an IVA. What makes you think this is an IVA?
You can certainly put in a claim for PPI if you wish.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
There is nothing to stop you from putting in a claim George but, if you were successful then chances are that money will just go straight back into paying your debts. In other words they will probably just keep it to offset against what you owe them.
As you are in a DMP then there is a possibility that the creditor would take this money against their debt.
It is up to you whether you go for this or not. If you do go for it, then don't use a company that charges you lots of money to chase it for you.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi George, you said you are still paying for the PPI, you should have stopped paying for this as usually because you are making reduced payments you would not be able to make a claim if you needed to. You need to check your t's & c's
Now managed by Jane Clack - Payplan Company Representative
Can you clarify if it was an IVA (I am in an IVA) and was successful in claiming back the PPI, would the creditor off set it againt their balance or would they send it to me to pay to my Supervisor. I haven't got a problem paying it into my IVA just means more for my creditors in the long run!
IVA completed September 2014. Finaly debt free - final dividend 88p/£
Either way suzanne it would either reduce their debt from you or increase the money into the pot. The company should write to tell you if they have put towards your debt and I would suggest the letter is forwarded to your IP to ensure they do knock it off their claim for funds! I have been waiting 18 months for HSBC to settle my claim. It will be about £4,000 so either way it will increase the dividend to everyone.
This is an interesting one, if you are in an IVA I think you should work on the basis that much of ( or a proportion of) your debt will be written off at the end of the process so making a PPI refund claim would probably viewed as a bit spurious and in any event would need to be paid in to your arrangement. If on the other hand you had credit which carried PPI and is not included in your IVA (perhaps you had repaid the borrowing) then in my view you should put in a claim if you have a case, you would still have to pay the amount into your IVA (subject to the specific clauses in your agreement) but if it was large enough you might be able to offer it as an F&F, perhaps ask your IP to offer it to creditors as an option in the event that the claim is successful. this may not be possible of course, I am not an expert but it seems logical to me. i would be interested to know what Melanie or Declan think of this one, there are going to be more and more of these cases given the recent court ruling.
IVA finished June 2011
"If you listen to people who tell you what's impossible, they're usually the ones who failed" Paul Stanley
Then again, banks do cock up from time to time.. They paid me (directly by check) 3k ish back from credit card charges despite being in an iva (and i got to keep it all)
It's worth a go as long as you don't get a company involved on your behalf.
One of my lenders screwed me over for PPI on a 13k loan, and i have to admit i was feeling smug when they were one of the ones that paid me (my credit card stuff at least) directly back
Last edited by animaleyes76 on Thu Jun 02, 2011 3:33 pm, edited 1 time in total.
