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Posted: Sat Oct 22, 2011 1:25 pm
by Jennifer.jb
I entered in to an IVA but now have a PPI settlement. i would would some advice
Posted: Sat Oct 22, 2011 1:32 pm
by kallis3
Hi and welcome.
Either the original creditor will keep.this to pay towards their debt or it will have to be paid across to your iva. Your creditors will all receive a better dividend. If the payment is sufficient to.clear all if your debts plus fees then your iva will complete sooner.
Posted: Sat Oct 22, 2011 1:48 pm
by johnnybriggs
From memory, that creditor subtracted the award from their own claim, I'm a bit out of the loop now though.
Posted: Sat Oct 22, 2011 1:50 pm
by kallis3
Some do, some don't.
Posted: Sat Oct 22, 2011 6:00 pm
by kazzafunk
If the money is paid into the IVA pot, you can ask for consideration for some of it to come to you for replacement items (ie washing machine). Not much mind but I think IP's are considerate when asking for sums less than £500. Our washer/dryer is on it's last legs and due to being disabled can't face the thought of carting it all to the laundrette and I have been advised that if the money goes to the IP direct they can consider allowing us £400 rather than asking for a payment break.