Hi Kazza, I think it would only be fraud if you knowingly claimed for mis-sold PPI when you knew it wasn’t. Unless you know all of the rules and regulations surrounding PPI and the FOS and OFT guidelines I don’t think even a reasonably knowledgeable person could know? Establishing whether you ar...

Hi all, Just a quick point (which I have mentioned on other threads on here over the last couple of days. A client may not realise they have been mis-sold PPI...see my quote from another thread below: “A customer who has been sold PPI may feel that it was sold correctly, but without full knowledge o...

One other point. A few clients who have completed their IVAs have told me that they have contacted creditors and asked them if they would remove the default from their credit file completely. Some creditors have agreed to this request. They are under no obligation but I suppose if you don’t ask you ...

Hi, I can’t see your credit report and I don’t think you can add attachments on this forum. Details on credit files can be held on record for up to 6 years from the point it is put on so it is possible that some of your debts will show on the file as defaulted. If your IVA is now completed then thos...

One quick question, have your circumstances changed between your IVA being approved and now?

I would recommend speaking to your IVA provider before taking any drastic action. If you are struggling they may be able to help. It is unlikely should your iVA fail that your creditors will receive any money from the arrangement as most of the initial payments go towards the nominees fee and initia...

Hi Tracey, If you are concerned that this may affect your competion date please contact your Customer Services Advisor (CSA) who should be able to see what impact if any this will have. During the completion process we have to pay out the remaining funds to your creditors. Once these funds have been...

Your best bet is to speak to your Insolvency Practitioner to see what they suggest. They will have all of your financial details and it is difficult for anyone else to advise you properly without all of the available information.

Good luck and if you have any more questions give me a shout.

Most creditors nowadays look more at the reasonableness of the proposal rather than a specific minimum dividend. After all in most cases the return to creditors in an IVA is better than in bankruptcy where the costs are higher and in most cases creditors dont receive a penny back.

Hi Dakota, please see a recent update from Link Financial regarding their IVA policy: "Debt buyer Link Financial has told a member that its policy, henceforth, will be to only approve IVAs if they: • Offer a dividend of not less than 80p in the £ • Last for six years as a minimum • Have a nominees f...

I spoke to the Insolvency Service on this issue only yesterday and they said that you should not lose the car provided the equity value is less than £1,000. I suppose it will depend on how much is owed towards the car vs how much it is worth. Also if the official receiver who deals with the bankrupt...

Hi Skippy, whilst we do not force clients to sign the POA forms we do strongly recommend it. By signing the POA the client does not have to personally progress the claim, Varden Nuttall take care of that on their behalf. The client is therefore not exposed to any potential costs that could arise fro...

Your IP can only at present estimate how much you are currently expected to pay. This is because they will not know if you need to pay in extra due to house equity (which it sounds like you do), income reviews due to an increase in income or many other factors. Your last annual report should have a ...

Ah that is a slightly different issue to what I thought. I would clarify with your IP the reason for the extension. It could be that a creditor modified your IVA so that you have to pay a certain dividend % but I'm just speculating. Are you managing to afford your payments at present? If you are hav...

Hi Kallis,

Liam no longer works at Varden Nuttall. Thats a great idea. I will send an email request today.

Thanks.