Thanks to everybody who responded in such a timely fashion after the death of my husband. Coping now! I still need advice on what to do about my IVA that was finalised in August this year. I received my PPI decision from Barclaycard the same month that I finalised my IVA. PPI was for £73,000. The company that I used for this, Wilson Field, have told me that I have to pay them approximately £11,000, for three months work! I also have to pay my debts of approximately £50,000. They te1l me that I have to pay 100p in the pound. Well as anybody can work out,by the time I have paid the tax on this PPI debt, I will not be left with £50,000. Wilson Field have told me that they will not move on either their payment or the debts of my creditors. I cannot see any way out of this and just wish that I had not received this £ 73,000 as I was quite happy before I got this. I also think that this will affect my Working Tax Credit, although I am not actually going to get any of this money. Please can anybody help me on this.
Jennie
Hi. As the PPI claim is a refund of monies you had already paid, I don't think there will be any tax to pay.
Yes, I agree £11,000 for three month work is daylight robbery, especially as they probably only wrote a couple of letters! However, what's done is done.
As you probably didn't have a formal completion notice regarding your IVA, the PPI claim will ba taken by the IVA as a windfall. So, £73 to start, less £11k to Dick Turpin, leaves £62k.
Hopefully I am right about the tax and you should still end up with something.
Let us know how you get on.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
