DFD. PPI Letters of Authority sound threatening. Do they have to be returned ?

[Broke of London]

My letter doesn't give me the option to say I don't know whether my PPI was mis-sold. It is a template letter saying it was definitely mis-sold. In my case, I cannot sign this without lying in what is a legal document which would be used in evidence against me should I be taken to court over a false claim.

Why the attitude tonight?

[plasticdaft]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by nomoremoney

sorry, I have received those investigative PPI papers,and ask to sign or else why I am I posting duhh, but I am NOT doing anything till I get the facts.So far I have got some facts here but a lot of uncertainties..

If you don't know say you don't know, I'll ask somewhere else.This aren't the only forum on the web.

Feel free to look where you like if you are unhappy with the knowledge of this place!!

Paul

[nomoremoney]

BOE, No attitude tonite, just the facts....I think our wires a bit crossed.

My letter template say, sign to get Consumer credit agreements on PPI on CC or loans. No mis selling has been mentioned. Now it is not for me to say there has been no miss selling of ppi to me as other posters have mentioned about themselves.We have been urged to have the assessment. (I aren't doing anything till after my Iva - £££ to keep reasons cited). So you can see why I have said I have no PPI asset as of now within my IVA.It's a fact.

As for your letter template,it is not at the same stage...we are not in the same boat.So you can't keep your PPI claims if misselling has already been established already during you IVA.

I agree with your case but I think I am right about me?
Sam' case is a valid precedent as she did her PPI cliam after her discharge and not during her TD

[Broke of London]

The asset is an asset as soon as the mis-selling takes place as they are taking money that should still be in your possession - ergo the asset is there waiting to be claimed. The asset is in existence when the iva is in force - it is immaterial when you submit to the investigation or establish the actual asset as opposed to the potential asset. You are obviously desperate to keep this asset, but it isn't yours.

[nomoremoney]

I am taking my chances,I aren't daft and even if I have to wait 2 years to cliam after my IVA completion I will.I want my 10k, it is mine, the dividend agree by the creditors is my penance.

I wait till the rush dies down,once my IVA is over, and the dust settle,then claim, it'll work you see. No one is going to reopen the IVA as when it is closed it is closed.

P.S I meant no disrespect

[plasticdaft]

If you knowingly have a valid claim for missold ppi and are asked by your iva firm to make a claim for the benefit of creditors then you have little choice but to make the claim. It is an asset but as far as I am concerned if you are not asked to claim and subsequently complete an iva there is little to stop you claiming.

How far back would IP's want to go for clients recently completing an iva,6 months,12?? Post certificate of completion and I dont see how an IP could get involved.

Paul

[plasticdaft]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by nomoremoney

I am taking my chances,I aren't daft and even if I have to wait 2 years to cliam after my IVA completion I will.I want my 10k, it is mine, the dividend agree by the creditors is my penance.

I wait till the rush dies down,once my IVA is over, and the dust settle,then claim, it'll work you see. No one is going to reopen the IVA as when it is closed it is closed.

P.S I meant no disrespect

When you say the dividend agreed with creditors, you should note that you always owe the full amount of your debts until the IVA is completed,only then will any debt forgiveness take place.

Paul

[Broke of London]

Once you have the certificate of completion the IP will probably not get involved. The problem for cheeky claimers is that the lender will more than likely set the refund off against the outstanding debt - which they keep on file for 6/7+ years after the iva completes. And as the PPI refund was an asset at the time of the iva, I doubt the closure of the iva will prevent the set off. If anything, the creditors may have a counter claim that the iva was invalid due to fraud.

[artemischild]

I spoke with DFD this morning as im due to complete in April and wanted to ensure there is nothing which will hold up my completion etc, i had a chat with a lovely lady about the PPI thing and what its all about

From what i was told is the creditors themselves are putting pressure on the IVA companies to have their clients claim the PPI, which i know sound a little odd as in affect we claim it off them to give it straight back, however this round a bout of money works in the creditors favour as they have set this money aside to pay back the PPI, if they get all the ones who owe them via an IVA then will get this money back therefore limiting the 'damage' their taking fro shelling out all the money.

PPI is classed as 'mis sold' not necessarily if you were or were not aware you were being charged for it but even if you agreed to have the PPI on your loan etc the cover you took out would not have covered you for what you thought it would have covered you for, therefore if you made a claim, let say if you were ill and unable to work, the PPI would not have covered those payments for you! So in effect you bought a product which wasn’t the product you thought it was!

Hope that makes sense……its taken me a while to get my head round it!

[Adam Davies]

Hi

We'll wrap this heated thread up on artemischild's informative post

Regards