www.iva.co.uk

we finished our IVA got our certificate November 2014. got harassed into claiming ppi. grant thornton have had over £6000 since july2014 and we havnt had a penny. we have just done a new search through blair endersby via claims people and were awarded over £6500 from Barclays. cheque went to Grant thornton is this correct? since the court case of MAY 2015 where a debtor won to have the ppi money refunded to them I though all new claims after that date went to the debtor? can you advise?

Hi and welcome.

I think there is a court case pending, GREEN V WRIGHT that many are awaiting the result of.

I've not kept up to date with this but know some of the other posters have and I'm sure will be along soon to offer their advice re your situation.

The case is going to appeal in November 2016 - hopefully after that the answer should be clear.

Did you sign an assignment? If so the PPI will vest in your IVA estate in any event.

We are in the process of going through PPI for accounts/loans that had been paid off 6years before we entered into iva but were with Barclays who were one of our creditors in the IVA if there is anything due back does this mean they get to keep the money even though its on old loans

Some bank's try to offset the compensation against their debt but I think there have been disputes over this treatment in the past.

Either way it will reduce the creditor liabilities.

will that be even if cc received Lisa

Yes, Wiz. As, currently, it is deemed PPI is an asset of the IVA estate, even years after completion has been effected.

thanks Foggy

Yes - they won't issue the CC without either waiting to see the outcome of the appeal in November, or dealing with the PPI or getting an assignment from you.

I can't see anyway you will get your hands on it, sorry!

We actually received 5K from our IP while we were in the IVA it was from a loan prior to IVA but not one of our creditors. I have no problem with the money going to Barclays as we did an F&F after 20 months.

You were lucky, Wiz. Normally there is no distinction as to the age of the loan.

eloo foggy hows your credit score - told you so ha! Hope you are well. From my quick scan of the case the debtor won on the strength that he had his CC and that dissolved the supervisor of any duty to collect PPI and distribute to his old creditors as it were. Only they have and that's a huge problem because in so doing if they lose the appeal their clients will come after said firm. The irony being it'll be a claims company that be knocking on their door. And looking at what came through my door this morning they're getting ready for the kill or maybe I miss-read it?

Lisa

I hope they lose the appeal, just because of the the IP's greed on some higher moral notion of ohh the creditors we do it for them..tosh Ip's didn't do it when the miss-selling of endowments happened, so there's no excuse. In addition it's clear that some ip's client's have been subject to coercion & duress to sign those lettersof assignment or no completion certificate, nothing short of malpractice. Should that case be successful it can only be right that criminal proceedings should follow ta dahhhh

Hi Sponge Credit record still stinks ... the magic date isn't until the end of this year. Not that I am overly bothered -- I took early retirement a few months back, so no-one in their right minds would lend me a bean anyway

IPs have a duty to investigate these PPIs in an effort to maximise asset realisations for creditors.

It would not be good enough to simply say 'we feel sorry for the debtor and think they should be able to keep the PPI so we're not going to try and recover anything for the creditors'. We would be breaching our duties as Supervisors.

PPI relating to a pre IVA miss-sale is an asset of the IVA and has to be dealt with one way or another.

The Green v Wright case will only make a difference to debtors who have had their CC already.

For all other debtors if they are not prepared to assign the PPI interest over to the IVA estate then they will have to wait for the IP to bottom out whether or not there is an PPI compensation due before the case can be closed and cc issued.

The assignment is a way of being able to issue the CC to the debtor earlier, rather than them having to wait for the PPI to be bottomed out.