Question from an old Member

[artemischild]

Hi all, remember me???? Not been around for a long time after my horrific time with Debt Free Direct and Equity in Finance!

Im after a bit of advice if I can in regards to PPI (yes yes the dreaded PPI rears its ugly head again!)
After completing my IVA 8th October 2012 (when certificate was signed) and after the trouble of PPI offsets etc. it was decided my IVA would be completed and sorted.

Since this time I have been dealing with Equity in Finance as a ‘private client’ as agreed with DFD and EiF as DFD no longer have any legal dealing with me due to completion.

Since this time EiF have been arguing with HFC bang in regards to a PPI clim that was outstanding. It was agreed that any monies owed would come to myself. Last week I received thi…

Hello Mr ******, thank you for email

We have an update on your HFC case for you. We have successfully retrieved the funds from HFC on the 2nd July 2014. HFC paid the full amount of £410.51 via BACS transfer to Equity In Finance.

Under the special instructions of Debt Free Direct we have transferred the funds directly to them on the 21st July 2014.
We have been advised that the your PPI funds are still due to Debt Free Direct as there is a clause in you insolvency. We apologise for this but we have had to follow the instruction of the insolvency practitioner at DFD. What we do suggest is if you have any issue or query with this we can refer any queries regarding this to Debt Free Direct. Alternatively, if you wish to contact them yourself we can supply you with their contact number.
We apologise for any inconvenience this may have caused you.

If you have any queries regarding you PPI complaints please don’t hesitate to contact us by either replying to this email or call us on 01902 867 844.

Any queries you may have regarding where your PPI funds are due please contact Debt Free Direct.

We thank you for your co-operation.

After speaking with EiF this morning they state they are still under instruction from DFD! How can they be if I’m a private client??
Also if there is no link now with creditors and DFD on my behalf….where is this money actually going?
Legally who rightfully should any monies have been awarded to?

Any advice would be gratefully accepted!
Thanks
Arty

[Foggy]

Hello and welcome back

PPI is infuriating in that everyone is dealing with it differently. However, any agreement with DFD apart, the general case is that, even after completion, PPI monies are due to the IVA where they will be dealt with under the continuing trust created by said IVA and distributed to creditors.

Now, in some cases it simply isn't economically viable for the IP to dig out the old files and re-contact creditors to distribute funds and IP's, in these circumstances are allowing the client to keep the money. However, a few are still clawing every possible penny back!

Hopefully you have the agreement from DFD, that the money is yours, in writing so you can wave that under their noses and ask for the money to be sent over to you.