www.iva.co.uk

Any advice please
i have been in an iva since apr 09 and was just looking through statements from cc companies,most of which had large ppi premiums every month,Q,, is it possible to claim for mis selling while in an iva , obviously they might take any compensation or refund and offset against their claim,but surely then this increases the dividend to others, there are some large amounts involved and i was thinking of one of the no win no fee companies ,is it possible to do this while in an iva or is it a waste of time,any suggestions please

Hi,

Yes it is possible and we have had one or two posters who have done it.

You will find that if you win, the creditor will either offset the money against their own debt, or it will be paid into your IVA.

Either way, as you said, your creditors will get a much better dividend.

It is not necessarily a waste of time, if you genuinely believe that the policies were mis-sold to you and you are able to prove it. But you will have to do all the running around and are unlikely to gain anything material - apart from perhaps the satisfaction of teaching the banks a lesson!

Thanks for that,i will try and find a claims company to act for me i had previously tried one firm who listened and took details and got all excited until i told them i was in an iva then they said that they couldnt continue with claim.

I wonder why!!!

If a company acts for you they still make money out of it though dont they??

They might not as the creditor may pay the money straight to themselves to offset against the loan, or they might pay it straight to the IP.

In that case I doubt they would get any money.