It is a good point, why are some companies pushing this more than others ??
My personal view is that there is good money to be earned by the IP/IVA companies for chasing these claims, hence the recent explosion of claims by IPs, and this is the major factor for some rather than the fact of "duty bound"
How far do the 'rules' or the law allow the IP to 'force' the issue?
And I ask the question again - why are some IPs duty bound to follow this course of action, when some are not?
This is either a course of action all IPs should be 'duty bound' to follow or not.
Surely this then questions such a course of action by firms such as Cleardebt, when other IVA providers are not following this path.
Last edited by oddbod on Fri Jun 22, 2012 12:11 pm, edited 1 time in total.
I think it comes down to commercial decisions from company to company, it is interesting that CCCS are not actively chasing PPI claims for their VA clients.
I think the IP has the power to fail an IVA with creditors permission if the client fails to co-operate, guess we will need an actual case to see if this happens, however not all IVA companies are stating that they will fail an IVA if PPI is not reclaimed with the debtors co-operation. I believe that Payplan, for example, have stated that it will not be forced.
A picture seems to be emerging of the difference in IPs. Some will work with their clients in an IVA and respect their wishes; others are using strong armed tactics to achieve their own aims!
No one has yet to answer what the Law or Rules actually state.
Can an IP force a person to sign authority to a claims management company to reclaim on their behalf miss sold PPI, even if that person believes that they have not been miss sold it and do not want to claim?
7 years after starting an IVA I finally received a completion certificate from ClearDebt
That's fine, and what I would expect from the supervisor of an IVA - claim if it's appropriate, to maximise returns to the creditors.
But if you have no PPI and have told the IP this (in writing if necessary), I would not expect the IVA company to 'threaten' to fail the IVA unless you do as they want.
I personally think Cleardebt have put themselves in a very poor light over this.
I'm sorry I've rather highjacked your post, but like you I would like clarification of the specific rules/laws over this issue from the proffesional posters.
I'm grateful to Andy for his take on it, but would also like a view from one of the IPs who post on the site.
There can't be one rule for one IP and another rule for others over this issue.
Last edited by oddbod on Fri Jun 22, 2012 1:31 pm, edited 1 time in total.
I do recall getting a letter back in April that they were going to be looking into any mis sold PPI that we have. Im sure that they will find some as well!
We havent always been with Cleardebt, we were sold onto them around 6 months ago. We have been paying into our IVA for 1 year now.
I wonder if people are allowed to use their money they get back from their PPI to offer a full and final settlement?? Probably not eh?
"Everyone is a genius, but if you judge a fish by its ability to climb trees it'll go its whole life thinking it's stupid" Einstein x
I agree that the company whoever it maybe needs to ensure that if threatening to fail an iva then this would stand in a court of law! Failing an iva following full payment of between 60-72 months would I feel be very difficult, time consuming and costly! If an iva is failed then I fear that these companies maybe the ones who go bankrupt once all monies including fees are repaid to the debtor!!
Also harpic, in response to you saying payplan are doing this aswell, they are very clear that is completely up to the client as to whether they claim or not! By not doing so will not affect completion of your iva!
I have posted a great number of times about PPI and VAT. I can only speak for our own company and if there are different rules in different practices I cannot answer for them all. We do our best and we will try and get the PPI issue resolved as quickly as possible because it is a distraction and not the money making scheme some posters think it to be.
