I finished my IVA over 18 months ago at the 5 year point by agreeing a settlement figure which was greater than staying in the IVA for year 6. The reason was to get it over with and start rebuilding our credit rating. During the 5 year period we also paid in any PPI that was collected by DRSP (no problem with that). Now some 18 months later we find out that we are now to receive some more PPI but it is going towards the IVA. Is this to be expected to go on until I die?
Yes I am afraid that is the case --- or would be if there wasn't a time limit on claiming PPI. Basically, this asset existed during the IVA and so belongs to the IVA / creditors.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
