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stew1234
- Posts: 2
- Joined: Mon Jul 07, 2008 9:58 pm
- Location: United Kingdom
hi i am in the last year of my iva and have a secured loan on property i have been paying an payment protection insurance if not claimed on am in titeled to it back freeman jones my who i have my iva with have taken that money i thought because it was an insurance i have been paying i could of had the money i hope you can help thanks
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plasticdaft
Forum Expert
- Posts: 9562
- Joined: Wed May 21, 2008 12:45 pm
- Location: United Kingdom
It sounds like it has been gathered up into the IVA for the benefit of creditors which is correct I am afraid.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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aran1980
- Posts: 25
- Joined: Tue Jun 14, 2011 12:03 pm
- Location:
Anything extra will be taken into IVA.
Sorry
Aran
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Niobe
- Posts: 5169
- Joined: Tue Jul 03, 2012 9:56 am
- Location:
Agree. This money will go towards your IVA and will mean that your creditors get a better dividend back.
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Sarah Jolly
- Posts: 180
- Joined: Thu Mar 08, 2012 1:51 pm
- Location:
Hi Stew1234
As the other poster’s have mentioned already, the money you have received is paid to the IVA for the benefit of your creditors.
This would mean creditors are likely to receive a little more than money back than they originally expected. They are still likely to be writing off a significant proportion of what is owed to them.
If we can help or would like to discuss this with us please let us know.
Sarah Jolly IMA CMAP - A member of the IVA team at Freeman Jones
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Broke of London
- Posts: 7761
- Joined: Sun Sep 05, 2010 6:04 pm
- Location: United Kingdom
Hi Stew and congrats on nearing the end of your iva!
PPI is due to creditors as it is an asset.
Wish you well for the last few months x
