DFD and ourselves are claiming back our PPI the amount although not yet received is at present totalling 50,000 not including 30,000 we already had back just after starting the IVA plus we still have other creditors pending I understand that this will go into our IVA what I would like to know is would we be ablw to use any of this to buy much needed household goods we are desperate for. Also another question why did noone suggest claimimg this back before entering the IVA as it would of lowered out debt considerably and we would have probably have completed by now!!
I'm not 100% sure, but if you were to repay the debt in full plus 8% stat int plus IP fees and there was any money left over it may come to you as I can't think who else woud be entitled to it! Maybe you should add up all monies and see where you are with the original debt!!
180,000 so we still owe money we are not looking to get out of it we just need to know if we could offset any of the PPI to by much needed household goods without having anything used added onto the IVA
I would imagine your IP would be receptive depending on what items you need, which particular things do you need to replace? I am sure if it is things that are absolute essentials they will potentially allow this, but you need to obviously speak with your IP first and see what they say
In my opinion it would depend how much the goods are that need replacing against the total refund due to you. If you can show they need replacing I am sure your IP will consider any request.
As to not querying this at the beginning. It wasn't such a hot topic in 2007 (not sure refunds were being processed then to be honest!). It's only since the high court decision going against creditors that this has begun to be looked into as potential assets to an IVA.
