www.iva.co.uk

Hi
It has been quite some time since I posted on here but I would appreciate some advice.

We completed our IVA in March 2012, and received the Completion Certificate in September 2013 after signing all rights to any further PPI payments to GT. (By this time we were so fed up with the constant delay for completion which was no fault of our own).

We have had no contact with GT since the Certificate was received apart from 2 letters within the first year from EIC to say that they had received PPI on our behalf.

Today my husband has received a letter from The co-operative bank stating that a payment of £1,162.68
is due which will be sent to GT as agreed.

We have no issue with any PPI going to GT as we agreed to this but what we do have a problem with is not receiving the 8% statutory interest which was also part of the agreement.

Where do we stand on this?
Many thanks for your replies in advance.

Hi Borneo. First of all --does any of that payment ( and previous payments)include the 8% interest ? GT will only refund any amount, if agreed, that has been listed in the repayment statement as interest. Not all creditors have been paying this.

If GT have had any refunds identified as interest and you signed one of the infamous "spotty letters", in which they agree to pay this to you, then I would write to GT (Aperture) asking for a statement of all interest paid over and requesting immediate payment, as previously agreed.

Hi Foggy,

Thanks for the quick reply.

All three PPI payments to date have stated 8% interest. I will contact them and enclose copies of what I have received stating this. I get so annoyed when, even after all this time, we are still having to battle with them to get the job done!

My PPI was settled before they started agreeing the 8% interest refund, so I never got anything back.

It seems anything due to the IP (creditors) they can back track years, but anything that flows the other way is never back dated !