PPI

[piggybank]

Hi please can anyone advise if they have claimed PPI after they have received their completion statement and successfully kept the money? I received my completion statement last year and believed that I did not have any PPI to be refunded however my bank have wrote to me to say that they believe I am entitle to a refund and to contact them.

My IVA started in 2010 and completed with a full and final settlement last September.

Should it be paid to the IP or can it be kept; a friend of mine has kept his after completeing IVA as his creditor just asked for a copy of his completion statement and then happily sent him the cheque but I just wondered if this is correct?

[plasticdaft]

Did the bank in question write off any debt?

Paul

[piggybank]

Hi thank you for replying. Yes they did right off a debt in the IVA

[MelanieGiles]

The answer to your question lies very firmly in the wording of the original IVA proposal, and the attitude of both the creditor and your IP as to who is rightfully entitled to the money. If the amount involved is relatively modest, your IP may well take the decision to let you keep it.

[TylerMorganClaimsLtd]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by piggybank

Hi please can anyone advise if they have claimed PPI after they have received their completion statement and successfully kept the money? I received my completion statement last year and believed that I did not have any PPI to be refunded however my bank have wrote to me to say that they believe I am entitle to a refund and to contact them.

My IVA started in 2010 and completed with a full and final settlement last September.

Should it be paid to the IP or can it be kept; a friend of mine has kept his after completeing IVA as his creditor just asked for a copy of his completion statement and then happily sent him the cheque but I just wondered if this is correct?

We have recovered PPi refunds for clients on thousands of occasions.
You should be aware that most lenders will try and keep (offset) the refund, and the refund may not be yours, you should consult
a) Your IVA proposal
b) Modifications
c) Chairman's report

[Foggy]

I took the liberty of amending the above post to take TylerMorgan's reply out of Piggy's quote and make it more visible.

[piggybank]

Hi and thank you for the replies and thank you Foggy.

What am I looking for in my IVA proposal, modifications etc..? will it state somethimg regarding the PPI or will it have specific wording that states that the PPI is included in the IVA?

Also what happens if the cash is received by the individual and not paid over to the IP.?

[MelanieGiles]

I am surprised to note that David is experiencing that most lenders are keeping the PPI refund and offsetting it against balances due in the IVA. This is not my own experience, especially in IVAs where the majority of debts have been sold to third party companies.

Piggybank - if I were you I would seek advice directly from your IP on the ultimate treatment of your claim.

[TylerMorganClaimsLtd]

[quote]Originally posted by MelanieGiles

I am surprised to note that David is experiencing that most lenders are keeping the PPI refund and offsetting it against balances due in the IVA. This is not my own experience, especially in IVAs where the majority of debts have been sold to third party companies.

Melanie,

I advised that most lenders will try and keep the refund, not that they do keep them. we do get the refunds back for clients.

[MelanieGiles]

Then I am still surprised David ...