I would like some advice on a PPI claim. My PPI settlement has been sent to IVA manager.

[Pauld6687]

I would like some advice on a PPI claim. My PPI settlement has been sent to IVA manager.

[Shining]

Hi and welcome to the forum. What advice would you like?

I would think the PPi will be paid into the IVA and distributed between creditors to enhance your final dividend. Did you claim this yourself or via your IP.

[Adam Davies]

Hi

As Lesley states it is quite normal for any PPI claim to go to your IP for the benefit of your creditors if your IVA is still active

Regards

[MelanieGiles]

Are you saying that the money has been sent to your IVA firm Paul? Do the terms of your IVA specifically provide for this to be paid over?

[martjase]

Am I missing something here, as I have seen a few posts regarding this.
My PPI was from my creditors and was paid directly into my IVA.
There is nothing in my agreement regarding PPI but assumed it would fall into the windfall clause.
I'm glad it went into my IVA as this should help me get F&F early, but if I have been wronged or my IP has acted unlawfuly, I would like to know.

[kazzafunk]

PPI refunds are seen as an asset in most IVA's (not specified in the proposal but are captured as such as they are funds available to the IVA pot). You may be sent the interest payment by your IP - some do and some don't. This is taxable but may give you some funds

[MelanieGiles]

PPI refunds are not windfalls but assets - and there is a difference. Windfalls are naturally captured under the terms of most IVAs, but a PPI mis-selling claim as an asset is not necessarily so. It is only included in your IVA if the proposals specifically captured such claims, or if your IVA included all of your assets.