www.iva.co.uk

Hi there, have a quick question. We completed our IVA in August last year with a full and final offer, a few years earlier than our IVA was due to finish. I have a couple of cards that I believe I was mis-sold PPI, well I know I was but I have been told that if I tried to pursue this the money will just go to the creditors because of the IVA, is this true. If so, then there is no point us bothering to claim as we will not benefit in anyway as our IVA has finished.

Hi difficult one for me to answer, but in my view if you had some of your debt written off, it would be wrong to claim money back when so much had been written off?
Im not sure what happens after a IVA regarding PPI claims, but unless I had paid back 100p in the pound I would feel very uncomfortable claiming.

if you have got your certificate of completion then you are free to claim and keep it.the iva firms have only just cottoned on to the ppi scam(my thoughts only) so as long as you have fullfilled your obligations and have you certificate i cant see they can do anything.prob someone will say different but i dont think so.

Hi,

If you have your completion cert then you are free to make a claim. I have so far made 5 claims, 2 of which have been paid, one of which was refused and has gone to the FOS and two upon which I have yet to hear but am confident they will make an offer. Unfortunately for the lenders Insurance sales are quite distinct from lending and therefore your IVA has absolutely no bearing on mis selling or otherwise of PPI.

The IVa firms have caught on to the PPI claims, and Ive been asked about claiming on my own debts, but I have declined, as I knew of the PPI & agreed to it. But in my view of those whom do have a valid claim , it benefits the person in debt as it reduces their debt & benefits the creditor.

Part of the reason we got in to such high debt was because of the hundreds and I mean hundreds of pounds we were paying on PPI each month and thought we weren't allowed to take it off, even had arguments with creditors trying to take it off. Our 0% credit cards at the time would never go down by anything because of the crazy amount we were paying in PPI so therefore it is a lot to do with them that we went through so much pain because of debt so I believe we should despite the early completion of an IVA and an amount being written off should receive some kind of compensation for what they did.

My question, as our IVA is completed and we have a certificate, if we put in a successful PPI would the money still go the debt or to us?

Do you have your certificate of compliance? Has your IP asked you to claim PPI during the time you were in the IVA? If the answer is yes and no then you're free to claim and any monies will be yours to keep is how I understand it.

There are cases where if debt has been partially written off and then the person pursues a ppi mis-selling claim then any claim may be offset by the creditor and I have seen no evidence that this is wrong or right. Clearly judging by Firefox there is also clear evidence of claims being paid out as normal. Perhaps if you dont ask they cant say no is the best way forward. Be careful of using a 3rd party to claim as if any monies are offset you may find yourself getting a bill from the claims firm.

If you know it exists then it should be chased up during the iva with the resulting funds added to the pot.

Paul

Hi,

The key is to make sure that the creditors have correctly closed the account down following completion. One of my creditors had not done that and made a payment to a credit card account that was showing as open on their system. I then started to chase payment of the monies owing (ironic i know but there you go. In the end I faxed a copy of the cert to their insolvency dept, who duly reversed the payment closed the account and sent me a cheque. You need to look at it like this. On completion of an IVA the liability falls away and al balances are zero, if not what would be the point of an IVA in the first place, how do you offset against an account with a nil balance?

There is every point in making the claims - and in fact your IP is very likely to insist that you do make them if you admit that you have been mis-sold unwanted products. The claims should be made on the basis that your other creditors should not suffer such a large write off at the expense of a creditor who wrongfully sold you something you did not need/want.

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

There is every point in making the claims - and in fact your IP is very likely to insist that you do make them if you admit that you have been mis-sold unwanted products. The claims should be made on the basis that your other creditors should not suffer such a large write off at the expense of a creditor who wrongfully sold you something you did not need/want.

I'm with GT and they are insisting that I use a claims broker, my problem with this is that if all my creditors get all the money that I might get, who pays the CB? cos I sure can't I find it hard enough to meet my monthly IVA payments and if not for my parents many times wouldn't have

If you use their broker then the fees are paid out from your pay out and the rest of the money goes into your pot.

I don't think that they can insist that you use a claims broker to submit the claims. If you want to make your own claims then this ought to be fine, but just keep your IP in the loop as to what is happening. All costs should be covered from the claims monies - and if you make the claims yourself there should be no costs leaving more money available to your creditors.

As mentioned on previous post - there has been issues of the creditors retaining PPI money against debt - and the claims company not being paid - hence an oustanding claims company fee, which i can imagine cannot be submitted into the IVA and make the claimee liable !