i am 4 years in to my iva but we received PPI 4 years ago. What will happen ?

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S.69

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Post by S.69 » Thu Nov 29, 2012 5:16 pm
i am 4 years in to my iva but we recieved al of our ppi 4 years ago without declairing it what will happen to us?
 
 

Foggy

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Post by Foggy » Thu Nov 29, 2012 5:26 pm
If your IP becomes aware of this you might have to pay in the "lost" monies, probably by extending the IVA.

Mind you, four years ago PPI wasn't such a hot potato and it might not have been payable into the IVA (though I doubt it). However, asking for clarification will alert him to what has happened.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Muggins

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Post by Muggins » Thu Nov 29, 2012 7:01 pm
Hi! Did you claim your ppi prior to yr IVA or afterwards?
 
 

MelanieGiles

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Post by MelanieGiles » Thu Nov 29, 2012 8:54 pm
Did you fail to disclose a receipt of funds after your IVA had been approved? If so, this is probably a material irregularity which could cause your IVA to fail.
Regards, Melanie Giles, Insolvency Practitioner
 
 

S.69

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Post by S.69 » Tue Dec 04, 2012 5:15 pm
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Muggins

Hi! Did you claim your ppi prior to yr IVA or afterwards?
Afterwards by 6months! wasnt thinking straight and now so stressed[B)]
 
 

luluj

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Post by luluj » Tue Dec 04, 2012 8:09 pm
time to come clean to your IP and work with them to try and resolve this ...hoping they allow you to continue with your IVA....let us know what happens
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MelanieGiles

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Post by MelanieGiles » Tue Dec 04, 2012 8:49 pm
Your IP must have asked you at the end of each year whether you had received any additional funds during the year that you needed to declare? Did this happen, and assuming yes, how did you respond to that?
Regards, Melanie Giles, Insolvency Practitioner
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