Author Topic: IVA  (Read 56081 times)

kiro

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IVA
« on: Mar 29, 2016, 09:21:08 PM »
HI


Could anyone tell me if i am entitled to any ppi, I have been out of my iva now for 6yrs and i am constantly getting mithered by calls asking me to apply for ppi. I have been told by a friend that i wouldn't be entitled to ppi if i got it because of the iva but all the companies that ring me say that because the iva has been finalized then i would, i don't know whether to apply or not. Can anyone tell me if its worth doing.
Thanks for your time

Markssxx

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Re: IVA
« Reply #1 on: May 01, 2016, 11:49:17 AM »
Hi I am in a IVA and understand what you mean but be aware that it's possible and money you get could still go to your IVA for your creditors. But it depends how long ago your IVA completed. Who were you with?

Lisa Thomas

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Re: IVA
« Reply #2 on: May 10, 2016, 12:30:07 PM »
Hi it depends on whether you agreed to any assignment or had a clause at the time of your IVA agreeing that future PPI claims, relating to the pre IVA period, would still go into the IVA trust.

At present there is a case going through the Court of appeal Greene v Wright.  The case is about whether a debtor can get to keep PPI refunds themselves post closure of their IVA.  Depending on this outcome it could open the floodgates for people like you to make claims and keep the funds.
www.Nevilleco.co.uk 01752 786800

Markssxx

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Re: IVA
« Reply #3 on: May 10, 2016, 03:10:51 PM »
Personally I feel that once an IVA completes then any windfalls etc should not go back to the creditors otherwise what is the point in having a completion date. A debtor should not be penalised indefinitely

Lisa Thomas

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Re: IVA
« Reply #4 on: May 10, 2016, 03:17:08 PM »
Any windfall entitlements received after an IVA has closed so vest back in the Debtor.


I believe PPIs are different as the claim relates back to the pre IVA period and was therefore an asset at the time of the IVA, albeit, usually unknown/unquantified at the time of the IVA.


PPI refunds post CC are a grey area and is no doubt why the Wright v Greene case has come about.
www.Nevilleco.co.uk 01752 786800

Markssxx

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Re: IVA
« Reply #5 on: Aug 21, 2016, 12:24:24 PM »
If no deed of assignment was made then any PPI will be yours now you have left the IVA especially after 6 years

Lisa Thomas

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Re: IVA
« Reply #6 on: Aug 23, 2016, 09:15:26 AM »
I don't quite agree - this is why the Greene v Wright appeal has come about - arguing over whether the PPI is still an asset of the IVA estate post completion or whether it reverts back to the debtor.


Until the appeal position has been established the position is still grey.


Having said that if 6 years has passed I doubt the IP will be interested in reopening the case but it will depend on the circumstances.
www.Nevilleco.co.uk 01752 786800

Markssxx

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Re: IVA
« Reply #7 on: Aug 23, 2016, 09:39:50 AM »
There has to be a cut off deadline similar to statute barred debts. Otherwise where does it stop? I think  6 years is too late for an IP to claim. I think 12 months maximum after completion.

Lisa Thomas

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Re: IVA
« Reply #8 on: Aug 23, 2016, 09:42:35 AM »
Although I agree with you it is not for me to decide - that will be for the Court.
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Markssxx

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Re: IVA
« Reply #9 on: Aug 23, 2016, 09:45:41 AM »
From experience PPI are small maybe a few pounds as in my case seems hardly worth the trouble but depends of course in value

Lisa Thomas

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Re: IVA
« Reply #10 on: Aug 23, 2016, 09:50:22 AM »
I've heard of some very large ones being granted worth thousands of pounds.
www.Nevilleco.co.uk 01752 786800