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Posted: Thu Sep 25, 2014 4:13 pm
by Peterdw8
I am the subject of a "failed" IVA. Further action is unknown. I have been advised that a successful PPI Claim has been made in respect of a Credit Card which was extant at the time of taking out the IVA and,as such, was not included in the IVA.What happens to the money recovered in respect of this PPI Claim ?
Posted: Thu Sep 25, 2014 4:46 pm
by Michael Peoples
You need to check with your own IP as there could be a 'trust' remaining after the IVA which would capture assets. This trust may have been severed when the IVA failed meaning the IP has no claim against the funds.
Posted: Thu Sep 25, 2014 10:40 pm
by Peterdw8
Sorry but I am very naive in this respect - what is an IP please ?
Posted: Fri Sep 26, 2014 7:46 am
by Foggy
The IP is a qualified Insolvency Practitioner and is usually named as Supervisor in your proposal paperwork.