Hi, I am already in an IVA, but have just found out that the firm who chased up my PPI claims have now told me that I must pay it into my IVA but I have already spent it what should I do?
How much did you receive from your claim, and are you sure that the money was properly deemed to be an asset in the IVA? Was the money paid by a creditor who is included in the IVA? If so, I am rather suprised that they agreed to pay the money to you before checking with the Supervisor of your IVA as to whether they had any claim over it.
ppi refund cheques can be made payable to the account holder even if a third party company had instigated the claim.
Halifax sent ME a crossed cheque for 4k refund even though the cheque should go to the IP.Of course I sent it to IP. Now did I think I could just keep it hush hush...ere No.
Poor judgment exercised here in spending that ppi refund. If it is in doubt one should ask? If it is too good to be true..keeing the ppi refund....it often is.
The Olympics is the best thing that has happened to this country.
So what next?
Joyce ...speak with your IP and work with them to find a solution on this matter. No one is perfect and I am sure you will not be the first or last to do this.
Gamemaker - well done for sending your PPI refund in...no need to be quite so harsh in your comment to Joyce - we are all human and we all have different proposals in our IVAs and there could be a clause that actually says it is hers to keep and excluded from the IVA.
Mel - I agree with you ..when we went to claim ours they made it very clear that as we had been in an IVA and despite we had been finished and paid all back, our IP would still be involved and anything found to be due back to us would be sent to them initially and then onto us.
Hopefully Joyce will let us know how she gets on.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Hopefully you can sort this out Joyce and agree with Liz that gamemaker was very harsh especially as the OP had only just found out that she needed to pay it back.
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I think it generally has come as a suprise to most people in IVAs that they even have a PPI claim, let alone whether it is due to their IVA or not - and not all are, so there is a possibility that Joyce may have done nothing wrong. IPs should be taking the lead in pursuing assets - this is our job, and if we fail to do that we can hardly penalise our clients after the event.
Don't worry Joyce - your IP will be bound to find a solution to help you deal with this matter if it is deemed that something has gone wrong.
It is perfectly understandable that insufficient information might be given by iva firm to the iva holder in the ownership of the ppi refund remittance.
In that respect it is IP and the ppi firm that is are at fault.
Adminstratively,why on earth would the ppi cheque be sent and made payable to the iva holder, clearly a mistake as the IP cannot cash the crossed cheque.
I am with DFD and the EIF cliams thing and it was all spelt out that ppi cliams all go to creditors. In my case no other cheque came to me except that one cheque.Screw up by Halifax clearly here.
The Olympics is the best thing that has happened to this country.
So what next?
I'm waiting for a ppi refund from barclays which has been earmarked for my iva. I tried to get the cheque sent straight to my IP but Apparently they have to send it to me. I think Its just to let me see the numbers and know that i can't spend it ... Penance for past sins!
Don't forget you will have a tax liability on the interest element of the claim suky424, so make sure your IP returns sufficient funds to you to effect this.
