They are being very naughty. Just tell them the PPI wasn't mis-sold and there is no claim to be made. It makes the whole situation rather academic then. It doesn't matter if that's true or not. I would also report these bully boy tactics to the IP who may well not know that this type of sales technique is being employed. If you get no joy from the IP, then a note to their regulator and the creditors concerned seems in order...particularly if you tell them your firm is blackmailing you to pursue false claims. I hope the IP can put a stop to this nonsense tho.
Hope you managed to get hold of your IP today Cheryl.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
No such luck, rang the IP Office three times today and was kept on hold so in the end had to hang up not to mention that I was using a mobile phone. The office phone is a no no as all the calls are logged.
Spoke to a young lady in the PPI Claims Unit and she was not very helpful in that she told me that the IVA has nothing to do with them but also agreed that as I had already done a F&F it is unreasonable, but told me if I did not want to complete the forms, to tear them up and place them in the bin and she will place an appropriate note on the Computer.
I request that a letter is sent out to that effect.
I will try and get the IP's fax number and so if I can get a letter to him.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
The Financial Services Authority has fined several companies for mis-selling PPI including Egg Banking plc, Aliance & Leicester, HFC Bank Ltd, Capital One Bank (Europe) Ltd, GE Capital Bank Ltd to name but a few. Indeed, they must have been doing something badly wrong as such insurance policies can no longer be sold at point of sale.
The mis-selling has often been systematic with banks forcing staff to sell these policies or face lower pay. You may have been told the insurance was compulsory... BUT IT ISN’T! That alone counts as mis-selling. Plus the self-employed, unemployed, retired, those with pre-existing medical conditions, or who are covered elsewhere, have all commonly been sold unnecessary policies.
I can see the logic in pursuing such claims (through a Claims Management Company ("CMC")) even if someone is in an IVA. Most CMC's operate on a "no win no fee" basis and their fees are usually 20% of any recoveries. So in an IVA it is important to ensure that their fee is a percentage of cash recoveries rather than reductions in claims. The potential benefits of a successful claim are that:
(i) overall creditor claims could be reduced
(ii) there may be recoveries that can be paid into the arrangement for the benefit of creditors generally
(iii) other creditors with valid claims will receive a higher dividend
(iv) where claims are large, there is a possibility of an IVA finishing early
Unless stated in the IVA proposals, it is optional for the debtor to pursue such claims. If there is a claim, the debtor's co-operation is required in completing forms and providing statements etc.
Clearly, there are potential benefits for bona fide creditors and possibly the debtor (and the IP firm if they are authorised to receive a commission from any recoveries) so I can see why an IP firm might want to bring this to the attention of the debtor and be involved in assisting the CMC in collating information in order to ascertain whether or not there is a potential claim.
However, it would be wrong for an IP firm to inform a client that pursuing a claim is compulsory when it isn't.
Looks like your IP firm has identified the possibility of pusuing a claim and you need to clarify with them whether or not it is compulsory that you do so.
Regards
Andrew Bowers
Licensed Insolvency Practitoner
Hi
I think the problem is the way that this has almost been dictated to you by your IVA company. What is of the utmost importance is that your IVA is closed and concluded and doesn't drag out becuase of this claim that you will not benefit from.
It will be interesting to see how this pans out
Regards
Good evening to the forum Administrators, IP's, IV Experts and all subscribing and non subscribing members.
Here is my update for today 16th February
Good morning may I speak to Mr. - -. May I have your reference no. please..after completing the security checks...
OK, and how can I help you?
(Caller) I would like to speak to Mr.... ......
(Reply) He is the Insolvency Practioner.
(Caller)I am already aware of his job designation.
(Reply)He is busy
Don't you think he has a moral obligation to speak
to me.
He is busy, what is it in connection with.
You have recently sent me some PPI reclaim forms and personally I see no reason why I should have to complete these claim forms as I had a F&F accepted on 5th January. I have spoken to three different IP's who felt it was not ethical at this stage.
Please hold......
Ok Mrs. ....you do not need to complete the reclaim forms as we are in the process of closing down your account.
Please disregard the forms and a note will be placed on your file that you do not wish to proceed with the PPI claims. Is that ok?
Thanks
Unfortuantely, I am still not happy about the above course of events and would welcome a letter from the company stating that I can disregard the forms and that the PPI mis-selling claims have no direct bearing on the closure of the IVA.
They made it sound as though I had an agreement with them to claim PPI refunds. In a earlier conversation with the Reclaims Unit,after mentioning that I had sought the advice of an Insolvency Solicitor, she then advised me it is optional.
I am very angry and feel that there is something in the whole scenario that is just not right.
Hi - good for you getting your situation sorted. If you have the time and energy, you could lodge a complaint with the IP. It may well be that the IP isn't aware of the strong-arm tactics his staff are employing to pursue PPI claims.
I hope they will close things down after your conversation Cheryl. I would certainly insist on this in writing and if they deny the conversation, refer them back to the tape of the date in question as I am sure they will have one!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Yes, I already had a letter written but will need to
bring todays conversation to their attention.
They can record all the phone calls, put notes on the PC but I have nothing at all to defend myself and a few months down the line they can turn around and indicate to me that because I refused to complete and return the PPI reclaim forms they are now holding on to my completion certificate in lieu. Hence, my need to obtain documentary evidence stating that they
advised me not to disregard the letter/claim refund
and the fact that it was optional.
There is absolutely no way that I am letting this go, until I am satisfied and have my completion certificate in hand.
Can someone send you an email confirming what was said in your conversation? Or even better, can you email your IP a recap and ask for them to confirm by reply. Hopefully that would settle everything tomorrow.
I agree that speaking to your IP direct, either by email or phone, may help to sort this out once and for all.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
