Payment Protection queries

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Frankie

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Post by Frankie » Wed Jan 16, 2008 1:44 pm
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Does any have an answer for me?

I was wondering when doing an iva on unsecured loan/debts do they include the payment protection in the debt. If this make sense?

E.g Loan for £5,000.00 paying back £6,000.00
Payment protection 1000.00 paying back in all £7,000.00.

When entering iva do the ip or creditors say £7000.00 owing or £6000.00 if no paymen was made for example.
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MelanieGiles

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Post by MelanieGiles » Wed Jan 16, 2008 2:23 pm
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If you contracted to pay the payment protection, cover is unlikely to be required during the IVA, so you could ask for a discounted figure on the basis that it is no longer required.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Regards, Melanie Giles, Insolvency Practitioner
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