www.iva.co.uk

Hi

IVA completed and there was never any mention of PPI from outset to completion, no DOA etc.

Didn't think we'd ever had any but on a clear out of old paperwork 4 x loans dating back 20+ years and a previous mortgage provider again going back over 20 years with PPI for about 10 years.

So do I claim now or does this Green/Wright have any bearing?

I know there's no need to go through a claims company you can do it yourself.

Expert advice would be most appreciated

Regards.

Hi,

It may well have a bearing so I would hold off for now personally speaking.

I would wait until the final verdict has been delivered ( even then it might not have any bearing as it relates to R3 Ts&Cs specifically -- but I would hope the spirit would be applied to other arrangements). As things stand any refund would still be due to the IVA -- if the IP was so moved as to dig out the paperwork from his / her archives.

Thanks so what governs that PPI belongs to creditors?

Surely there should be something in the proposal, chairmans report or completion paperwork

In this case the creditors were all pre-IVA and didn't form part of the IVA

Is it some global governance or law that determines this?

Sorry to go on but just like to know the facts

Thanks again Foggy.

The PPI refund is captured as an after acquired asset ... these are mentioned in the terms and conditions and are payable into the IVA. They do not have to be specifically referred to as, of course, assets can be many and varied things, far too many to mention, so they come under the "asset" umbrella.

The fact that the loans were pre-IVA has no real bearing ---- they are simply assets that arose ( albeit without your knowledge ) pre IVA. If you had a Rolls Royce on the drive when you went into the IVA you would have no surprise that the creditors would want it sold and the proceeds paid towards your debts. That fact that you purchased the car before the IVA is of no relevance. So it is with PPI refunds.

What Green vs Wright is really trying to establish is that assets (in this case PPI) should be dealt with during the life of the IVA and that, once the completion certificate has been issued, anything not dealt with is lost to the IVA -- the IP has missed the boat.

Luna I too was with stepchange and am watching this case and awaiting its outcome. I noticed on Martin Lewis last night that he was talking of a time deadline for all claims. Does anyone know if and when an outcome/announcement will be made on the Greeen v Wright case. It seems to be going on forever.