Melanie, I am no longer in the Trust Deed and at no point during it did the trustee mention PPI so it was only after I had completed the Trust Deed and had been released from it that I was advised by a friend to try for the PPI claim. I contacted Gladstone and they said I was alright to claim, even tho I had been in a trust deed. At no point have I been told that there is still debt outstanding in my name with my creditors, I was led to believe that once released from the TD, my debt was wiped out. The bank have worded the letter well but I dont believe they can do what they have said.
Paul, thank you for your support. I agree with you and will fight the bank & Gladstone if they think I will pay those sorts of fees for gaining me £100. Thank you for all your views tho. Sam xxxxx
Keeping the PPI cliam after an IVA and TD discharge...lovely idea.A bonus. No wonder there is flurry of activity to 'stop' this loophole by certain likes....I'll say no more....you all get where I am going with this.[:p]
I'll celebrate if it is mine! 5K net cliam is equal to for some people getting back 15 months of IVA payment. I am in hysterics[:o)]
Last edited by nomoremoney on Sun Dec 11, 2011 8:31 pm, edited 1 time in total.
i really think you will have a problem getting Gladstone to write off their percent of the claim - the fact they processed and applied for the claim - which was successful - the fact the bank chose to offset all the claim, means to may find you will still have to pay the fees.
The augument is with the bank - and whether you have a legal claim against them you will need to seek an legal opinion.
Yeah but Gladstone are paid 25% of my payout which would be £25 not £2500. Plus they must be aware that banks keep the debt open for the claimant and will offset against the claim. I am surely not the first person to have done this after being in a Trust Deed. I just think it is a joke, plus I havnt signed anything as yet so if that is the case I will drop the claim and they can keep the £50 I paid to kick it all off. I will then seek advice and fight the bank myself.
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-Quite simple ... the IP see's the PPI refund as an asset of the IVA and therefore payable into the IVA ... no mystery !
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Naa,there is no way any IP in any consensus can force anyone to do the PPI cliam during the IVA. There are people here who aren't making the claims and their IVA will not fail as Declan have said. A windfall as we know must be declared as it exist.A PPI cliam have to be cliamed for it to exist.
To simply put it...an egg isn't a scrambled egg till you scramble it. A PPI windfall isn't one till you cliam. Now a test case is needed.
Last edited by nomoremoney on Sun Dec 11, 2011 9:39 pm, edited 1 time in total.
To a degree we agree. I have said before if there is no claim there is no asset. However, if a valid claim is made it relates to a situation which existed when the IVA was started and, in that case, is an asset of the IVA. In much the same way as if you inherited a large sum of money whilst in an IVA, but the estate wasn't settled until after the IVA finished, the inheritance should still be paid into the IVA. (In fact, in this case, if the inheritance was known about, I imagine completion would be delayed until such time as the estate was settled).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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
I agree with Foggy also if you are claiming whilst in an IVA but not if you have been released Melenie. The people who dealt with my TD did not ever ask me to sign anything that would allow them to claim PPI on my behalf. Even if they had they would have got the same answer as I have personally from the bank so it wouldnt of made much of a difference eh. Also you have to pay tax on the interest you are awarded within the PPI claim. You cant pay tax on something you have not received so how can Gladstone charge me a fee of £2500 for something I am not receiving? It was obvious that once the chance of going into an IVA or TD came about everyone jumped on the bandwagon, some are genuine and I am sure there are many that used it as a way to get what they wanted and not pay for it. The company I used to do mine actualy said it was nice to find someone who felt guilty but had no choice than to do it. It was the best thing I did.
Ok, I aways like endorsed opinions,consensus rules. I like simple answers too. When I finish my iva in three months time,and cliam ppi 12 months later on my own and not use a firm as Martin Lewis recomends - I can or not keep it. A YES OR NO will do.There is 10k riding here.
I want you to answer this and not go on about inheritance as an example,its a cope out,or are you afraid to say and gain the respect.
Last edited by nomoremoney on Sun Dec 11, 2011 11:32 pm, edited 1 time in total.
Nomoremoney - no you can't keep it. You know you have an asset worth circa £10k because of a policy mis-sold to you before the iva came into force. Therefore it is an asset of the iva and payable to your creditors. Technically, the iva should not complete until all assets are paid across. If you do complete the iva without declaring the asset, your creditors will likely offset the claim as per Samantha.
