Please bare with me on this as it may go on
We entered our IVA In December 2009 and in May 2010 we received a £7000 refund on a Barclay loan that went straight into our Iva and I have no complaints regarding this. Also in December 2012 we received a further £9000 refund from our Mortgage and £3000 interest, which we received this was all done through E.I.F and payplan.
Feb 2013 Barclay's wrote to us again say we need to claim
for PPI Interest as this was not paid back 2010.
So we claimed on our own and informed payplan this was happening, We received a letter stating they had issued a £1900 refund and sent it direct to payplan on the 8th of May, As of today after numerous emails and phone calls they are still not able to tell me what is happening with the money and whether I will be getting some of it or all of it as in the last claim.
Things are really tight at the moment new cooker needed and our bed has broken.
We have always stuck to our agreement and never missed any payments and have put additional funds in when asked.
I asked for details of there complaints department and wrote a letter stating my frustrations
Hi
Technically it should be paid into your IVA however some IPs are allowing the interest on any PPI claims to be paid to the debtor and Stepchange are allowing a one off £500 windfall payment. Keep plugging away with Payplan, hopefully you will be allowed to retain some funds for essential repairs/replacement
I was expecting to be receiving the interest as this is what happened on the last PPI Claim that was paid out all done through E.I.F and payplan only 6 months ago, they just seem to be taking ages to even admit they've received the cheque.think they are stalling and sitting on the cheque in there bank.We are well into our 4th year now and our monthly payments have gone up slightly but as we all know the cost of living has as well, also have a son at Uni , and there is no provision to help him as our salaries are above the limit and his student loan does not cover his fees and accommodation so we try and help him were we can he also has a part time job when he's at uni.
So as you can gather the interest from this PPI Claim would give us a bit of breathing space.
Make sure you account to HMRC for the tax due on all of the interest you have received, and note that this will also need to be done for any future payments as well.
