www.iva.co.uk

Entered into an Iva on 24-10-19

Couple of days later I received a cheque for ppi of £2700.

The bank is one of my creditors so I’m quite surprised they sent it directly to me.

As the deadline for PPI Claims has been and gone.
Is there anyway my Iva company can check if I was entitled to any refund?

Was thinking not put it through the bank and take it to one of those cheque cashing places.

I would advise caution ...... as the issuing bank is a creditor they will be in contact with your IP for the next half a decade and, at any time, might mention the PPI refund --- this could lead to the IVA being failed and the whole lot going down the toilet.

I imagine it was sent direct to you due to the closeness of the IVA start date ( it would have come from a department possibly not yet aware of the IVA proceedings).

Your PPI will belong to your creditors - you need to speak to your IP.

I’m sure I read somewhere you get to keep the internet paid on any PPI Claims?

INTEREST

Some firms allow you to keep the interest, but not all, by any means. And some of those change their minds every now and then. Mine kept it all and I have heard that some promising to allow interest have yet to keep their promises.

IVA requires honesty .... you need to inform your IP and potentially hand the money over. It will go towards your creditors claims and will provide a higher return.
My advice, however tempting it is, is not to hide it!

Has anyone heard of Creditfix giving back the 8% interest on ppi payments ?

Fri Nov 01, 2019 5:58 amjade176 wrote:

Has anyone heard of Creditfix giving back the 8% interest on ppi payments ?

I do not recall any instances of CF doing this.

Neither have I.