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Posted: Fri Jan 31, 2014 11:40 am
by 123459
i'm just inquiring regarding to a ppi? if you finished your payment with i.v.a ? why does the ppi refund goes to the iva not to the person?
Posted: Fri Jan 31, 2014 12:02 pm
by Adam Davies
Hi and welcome
Because the IVA is an asset that was an asset during the IVA
The thinking from creditors is that had the debtor not paid the PPI premium then they may not have borrowed so much and/or may have repaid more before entering into an IVA
Regards
Posted: Fri Jan 31, 2014 7:16 pm
by MikeyM
More like if they hadn't missold the policies in the first place then maybe some people wouldn't have got into the mess in the first place.
I am appalled that nobody in the banking industry has even been questioned by the police over this misselling lark never mind prosecuted.
Posted: Fri Jan 31, 2014 7:54 pm
by martinw
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Andy Davie
Because the IVA is an asset that was an asset during the IVA
Do you mean
The PPI is an asset that existed during the IVA(doesn't matter when it's claimed, as it was claimable during IVA).
Martin
Posted: Fri Jan 31, 2014 8:06 pm
by Foggy
Yes Martin
Posted: Sat Feb 01, 2014 8:40 am
by martjase
Well said Mikey, it grinds my gears too what these people get away with.
123459, you say your IVA is over, but what percentage did you pay back?
Although it seems that even 100p in the £ is not enough for these people.
Posted: Sat Feb 01, 2014 9:29 am
by martinw
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by martjase
Although it seems that even 100p in the £ is not enough for these people.
It could be argued that 100p over 5/6 years is interest free credit for 5/6 years, if you didn't get the IVA think of the interest and fees you'd incur over that period. The alternative is bankruptcy which has higher fees I don't know how many get to 100p that route
Martin