www.iva.co.uk

Thanks to everybody who responded in such a timely fashion after the death of my husband. Coping now! I still need advice on what to do about my IVA that was finalised in August this year. I received my PPI decision from Barclaycard the same month that I finalised my IVA. PPI was for £73,000. The company that I used for this, Wilson Field, have told me that I have to pay them approximately £11,000, for three months work! I also have to pay my debts of approximately £50,000. They te1l me that I have to pay 100p in the pound. Well as anybody can work out,by the time I have paid the tax on this PPI debt, I will not be left with £50,000. Wilson Field have told me that they will not move on either their payment or the debts of my creditors. I cannot see any way out of this and just wish that I had not received this £ 73,000 as I was quite happy before I got this. I also think that this will affect my Working Tax Credit, although I am not actually going to get any of this money. Please can anybody help me on this.
Jennie

Hi. As the PPI claim is a refund of monies you had already paid, I don't think there will be any tax to pay.

Yes, I agree £11,000 for three month work is daylight robbery, especially as they probably only wrote a couple of letters! However, what's done is done.

As you probably didn't have a formal completion notice regarding your IVA, the PPI claim will ba taken by the IVA as a windfall. So, £73 to start, less £11k to Dick Turpin, leaves £62k.

Hopefully I am right about the tax and you should still end up with something.

Let us know how you get on.