I had an iva about 10 years ago which sub sequentially failed three years in l then went on to debt management for around seven years until l retired at 66 and couldn't pay any more because I only get old aged pension and am now on benefits. I claimed PPI with the RBS and was awarded £1700 in August last year but because there was an iva post trust it is in dispute. RBS have written to them but as yet they have not responded
The PPI belongs to your creditors, even though the IVA failed, as I assume the DMP didn't clear the debts, so they are still outstanding. It might be uneconomical for your former IP to reopen old files to distribute the refund and RBS might offset it against whatever you owe them.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hi Sylvia
Can you please tell me what happened when your IVA failed ? Did the creditors put a charge on your house etc.
Interested in your thread as i am thinking of letting mine fail. I jointly own a house with no mortgage.
Agree with Foggy that your PPI is due to your creditors.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
