Equity in Finance (AGAIN!!)

[Goosed]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by lou3

The insolvency practitioner has a legal obligation to investigate whether or not any mis-sold PPI may be outstanding. That means you can either use the company they do these things through or provide letters from every single company you have ever had any kind of loan, credit card or arrangement with confirming that you were not mis-sold PPI.
No they cannot force you to sign the paperwork - but if you don't the IVA can be failed for non compliance. You do have that choice.

If your IP has asked you whether or not you have been MIS-SOLD ppi, then they have investigated,

If you haven`t been MIS-SOLD ppi and told your IP such, then that is the answer to the investigation.

The whole scenario of ppi mis-selling compensation is being abused by these claims `specialist` companies and the insolvency companies teaming up with them to try and fleece the financial organisations concerned purely for their own financial gain, regardless of the grief and stress it causes the people in IVA`s being used for their purposes.

[doritos]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by lou3

The insolvency practitioner has a legal obligation to investigate whether or not any mis-sold PPI may be outstanding. That means you can either use the company they do these things through or provide letters from every single company you have ever had any kind of loan, credit card or arrangement with confirming that you were not mis-sold PPI.
No they cannot force you to sign the paperwork - but if you don't the IVA can be failed for non compliance. You do have that choice.

Given that the laws pertaining to IVA's were written in 1986, then updated in 2006 they know nothing of PPI

you're thinking of the IVA protocol which is nothing more than a contract.

[lou3]

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

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by lou3

The insolvency practitioner has a legal obligation to investigate whether or not any mis-sold PPI may be outstanding. That means you can either use the company they do these things through or provide letters from every single company you have ever had any kind of loan, credit card or arrangement with confirming that you were not mis-sold PPI.
No they cannot force you to sign the paperwork - but if you don't the IVA can be failed for non compliance. You do have that choice.

Given that the laws pertaining to IVA's were written in 1986, then updated in 2006 they know nothing of PPI

you're thinking of the IVA protocol which is nothing more than a contract.

I think you need to look at the Financial Ombudsman ruling in 2012 which clarified that the supervisor's duty to ensure all possible assets are released to the IVA included PPI from all loans - not limited to those included in the IVA.
Regardless of if this ruling did not exist the IVA contracts are legally binding and therefore if the clause within them states that assets must be realised then the supervisor's hands are tied - he cannot legally complete the arrangement until all PPI is realised.

[doritos]

I aware that the IVA contract is what really makes the IVA, the legal underpinnings are only really there to ensure it is setup properly.

Hence there is NO legal standpoint for the insolvency practitioner to investigate the PPI, yes the FoS are aware of IVA's and how PPI should be paid out if applicable, but there is no no means a legal obligation, its all purely contractual.

[Foggy]

PPI is an asset and, as such, the regs allow for the IP to investigate and realise assets. PPI doesn't need to be specifically referred to as the majority of arrangements are "all assets".