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jmf293
- Posts: 24
- Joined: Fri Feb 06, 2015 2:01 pm
- Location: United Kingdom
I was more than happy to hand over the PPI money I received. In fact, I did so, and never expected to see any of it. It was only when I received my Annual Review many months later, that Melanie told me I could keep 50%. It came as an unexpected surprise.
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thisusernameistaken
- Posts: 265
- Joined: Thu Oct 30, 2014 6:46 pm
- Location:
Please don't get me wrong; I'm more than happy for any PPI realised to be put into the IVA within the term of the IVA.
I strongly believe that once the IVA is over, you're off the register and the CC has been issued that it's done and dusted. As far as the legalities go you've complied with your IVA and the creditors are happy with what they've received back.
If I were to find I were owed PPI two years later I would not feel obligated to inform my IP; it should have been investigated and dealt with in the five year period they had to go looking. THAT'S my point.
I do also still feel a little conflicted that the money you get back in a PPI claim was money that did not belong to a creditor in the first place. Many people may not have found themselves in financial hardship or needed to go into an IVA if they hadn't been fleeced by the banks (let's not forget the sums they conned people out of runs into the thousands for most people). I therefore think that at the very least, the debtor should be entitled to retain the interest on the amount wrongly-acquired by the creditor if that PPI is claimed during the IVA.
If the creditor gives the PPI back only to then receive it again, where's the punishment in that?
I have no issue paying what my IVA stipulates and then some; indeed, I've been earning commission regularly which has seen me paying significant uplifts over the years. But my heart won't bleed for creditors who conned me out of money through any PPI I didn't even know I was paying for!
