www.iva.co.uk

hi, I have seen on this forum that after an iva is completed any ppi refunds can go to the debtor. My iva was completed july 2004, I have claimed against an m&s loan which was part of the iva but have received a hostile letter refusing refund stating that I do not have the right to retrospectively alter the term of the iva(by claiming the asset of the ppi) without re-opening it and re-calculating the debt.my ip says claim, money mine as iva closed.would be grateful for your advice.

Hi Marge. I am afraid that this is an untested area of law. Many creditors are using PPI refunds to offset the debt previously held with them. And many IP's are claiming refunds after the IVA and paying them across as an asset of the IVA.

The only advice I can offer is to forward your claim to the Financial Ombudsman and await their directions.

And some as your IP says is being directed to the client ie you. I can understand the creditors point of view to be fair, but it is odd in the construction industry by statute you cannot claim off-set from one job to another, but the banks of course can do what they like or think they can. As foggy suggests refer your claim to the FOS, but you will be in for a wait of about a year+ due to the backlog of cases

thanks , I will go to the ombudsman,will be worth the wait if goes in my favour coz a few thousand pounds. my other claims from the banks have been successful.

Sponge ! You know the banks are fireproof in the UK !