I'm in an IVA and have recently settled my debts through full and final settlement but my IP will not sign off the IVA as completed even though the debts have been cleared, they say that they will now look into a PPI claim and I have to stay in the IVA even though the debts have been cleared and I never paid PPI and won't give me a time limit. Please advise how to deal with this or should I go to the Financial Ombudsman
Hi - you need to use the internal complaint proceedure within the company - to hopeful resolve this - only then will the F Ombudsman, review your complaint.
At the moment the issues of PPI and VAT are proving a big headache both for the clients and the IVA companies - You need to write a letter/email to your IP direct making it clear these is no claim against PPI. (this i would have thought invalidate any claim of PPI - against companies - if you claim when your IVA is finished)
Last edited by ginger3232 on Wed Apr 11, 2012 1:48 pm, edited 1 time in total.
Surely the words "full and final" mean that you and your creditors have settled on the submitted figure. For your IP to move the goal posts is not really playing the rules is it? Had your proposal for F&F been accepted with the provision to submit a PPI claim then I could understand the delay. Start an internal complaint then if it continues to delay give the ombs a bell and see what their take on it is.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
It does seem unfair and as though the goal posts have been moved if it was not made clear to you regarding the inclusion of PPI claims. If you had a genuine claim I could understand it in that the funds could be taken into account however, if you do not believe you have a claim against misold PPI then you should not be expected to make a claim. Invalid insurance claims are fraudulent and I see false PPI claims as the same.
Go back to your IP to explain your circumstances and utilise the internal comp,aints procedure if get no joy from your IP. If after that you are still unhappy then escalate the issue.
Keep us posted as I am sure others could be in the same position. I hope you get things sorted satisfactorily and quickly so you can move on.
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com
If you’re ready to ask us for specific advice or help, then get in touch at www.call-me.debtadvicetv.com so you can start to free yourself from the stress and anxiety of overwhelming debt.
Thanks for the replies, im currently in discussion with my IP regarding the situation, but they have informed that I DO have to sign the paper work giving them authority to investigate any potential for a PPI claim. Still they refuse to commit to a time scale. I advised that the full and final settlement has been made, there has been no mention of a ppi claim until after the payment was made, that I do not believe I have or have been miss-sold ppi and on those grounds I will not be signing any paperwork. I was advised that its not my decision to make and in essence I can be forced into bringing the claim for PPI. The IP in this matter is from a large company and is well respected and can be seen offering advice in many of the forums. I do however believe that some of the insolvency are treading on a very thin line of legality. I have already discussed it with the ombudsman and they are outraged at the IP's behaviour. I mentioned this to the IP who did not seem overly concerned. I would like to know the legal precedent that makes some of the IP's so confident in this matter
I think the IP concerned should be very concerned that the FO are outraged. Forget about IVAs, to make a false claim, or force a client into making a false claim is fraudulent. The money set aside for PPI claims is solely for clients who have or believe they were missold the PPI policy. As part of the your IVa agreement you may have to sign to say you are happy for the IP to INVESTIGATE however upon investigation they should be finding that there is no claim and the matter closed. If your IP will not back down on this you may need to take it further with the IPs regulatory body and the OFT.
If I am missing some loophole that makes it ok for some IPs to do this then I await to be corrected (and will be flabbergasted) but I am certain I am not.
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com
If you’re ready to ask us for specific advice or help, then get in touch at www.call-me.debtadvicetv.com so you can start to free yourself from the stress and anxiety of overwhelming debt.
Yes they want me to sign the paperwork that incorporates investigations too. I have refused on the grounds there is no ppi, and it has not formed part of my iva agreement. I asked how long investigations will take and they advised to give them a call in 3 months if I haven't heard anything! hence why im digging my heels at the investigation side of things too. All this came about within minutes of my F&F settlement. I have received correspondence of them re ppi but nothing to say that the F&F had been made or monies where about to be distributed.
Yes they want me to sign the paperwork that incorporates investigations too. I have refused on the grounds there is no ppi, and it has not formed part of my iva agreement. I asked how long investigations will take and they advised to give them a call in 3 months if I haven't heard anything! hence why im digging my heels at the investigation side of things too. All this came about within minutes of my F&F settlement. I have received correspondence of them re ppi but nothing to say that the F&F had been made or monies where about to be distributed.
It could be seen as obstucting the running of your IVA - by not complying with requests - which will delay even more the IVA closure . As long as they are not asking you to lie about having PPI insurance - i personally dont seen the issue. The PPI is seen as an asset. so allow the IVA company to waste their time invesigating the non PPI claim.
Making an offical complaint can take months to resolve - so as well as making the complaint, comply but dont lie about any PPI claims - in the hope to can finish your IVA ASAP[:)]
Last edited by ginger3232 on Thu Apr 12, 2012 5:43 pm, edited 1 time in total.
HI! You're not with Varden Nuttall are you? I am and they are very heavy handed!
Basically, some people do not know whether they have PPI or not as it was snuck on to loans etc so they want to investigate all accounts.
There isn't a legal precedent giving the IP authority to act as the authority is written within the proposal itself. The IP has a duty to maximise returns to creditors and realising the debtor's assets is part of that duty...and a ppi claim is an asset.
If you are confident that you have never been sold PPI with any of your debts, or have ever taken out a PPI policy, then your case closure should not be being held up. If the IP refuses to accept what you are telling them, you may well have grounds for complaint, but do use their internal complaints procedure as a first point of call.
Thanks for the advice, the irony of the matter is that I trained as a solicitor and then wrote the bankruptcy restriction orders for the insolvency services! Due to an illness of meningitis the insolvency services terminated my contract just as I had purchased a house, which led to my unfortunate financial nightmare. So I am by no means naive in this matter, and had I had PPI I would have been the first banging on their door for my money back, given my own circumstances. Im fortunate enough to see whats actually happening but there will be others who will be taken advantage of in this situation. I ended up doubting myself today, so called all my creditors who all confirmed that PPI was not attached to any of my debts, which was as I thought. This situation is very frustrating, I have spoken with the FOS, ACCA and OFT for advice. My creditors meeting was held on 4th April 2012, I have had no written correspondence regarding the outcome of that, but they had time to write about PPI. At this stage I do not wish to name the company, but they are not Varden Nutall they are actually a 5 star rated firm with a very highly rated IP. So for the sake of professionalism I do not wish to name the company or the IP involved until they have given me their formal response. If unsatisfactory I may reconsider. I do wonder why its taken this long the BAA did not appeal in May 2011 so why is it only in the last month or so the IP's have jumped on this band wagon?
I do not wish to paint a bad picture of all IP's, so I do apologise regarding my accusatory tone and do realise that there are companies that deal with matters more professionally than others. Thank you Melanie for you advice, its good to know there is still some rationale in other IP's
I have received another letter from the iva company today with a form to sign to state that I wish for them to investigate and process mis-sol pp, that occurred within the last 10 years. The claim will be dealt with by the Complaint Handling Services and they will receive a fee of 33.95%. The letter also states I will receive the first £500 of the total claim. If this doesn't insight people to falsely claim then Im in wonderment. My formal complaint has not yet been answered.
I have recently completed my IVA with Payplan, and am awaiting my certificate. I too received a letter urging me to reclaim PPI. I called them to check what i need to do as as far as i'm concerned my IVA has been completed, i am just awaiting the paperwork. They have confirmed to me that i do not need to make a PPI claim, but if i think i have been missold their representatives can help - it is just another way of a CMC making money. You do not need to make a PPI claim as part of your IVA, especially if there has been a creditors meeting & they have accepted your full & final settlement offer. Payplan reassured me that i don't have to instigate a claim, & my completion document is on it's way. What i choose to do after that is my prerogative!
