Can I claim PPI after finishing an IVA?
Can I claim PPI after finishing an IVA?
It is possible to claim for PPI after your IVA is finished. However any compensation received will normally be paid to your old IVA company.
How long does it take to get an IVA completion certificate?
within twelve weeks
You should receive your certificate within twelve weeks of the final IVA payment, after the Insolvency Practitioner has finished the administration of your IVA. You will only receive your certificate if you have made all the agreed payments to your IVA.
What happens if I win the lottery during an IVA?
What if you win the lottery while on an IVA? If you won a large sum of money while you were subject to an IVA, you’d be expected to repay your debts in full. Also, your creditors would be allowed to charge interest on the debts and you’d also be expected to pay the fees incurred in the IVA.
What happens if I start a PPI claim before the IVA?
Your IVA remains in place until you have received your Completion Certificate. If you start PPI claims before you have this any compensation due must still be paid to your IP whatever the original terms of the agreement. Can the Bank keep your PPI Compensation?
When to start claim for mis sold PPI?
This is after you have received a completion certificate from your Insolvency Practitioner (IP). You should not start any claims yourself before you have your certificate. If you do any compensation paid is caught by the windfall clause of the agreement and would certainly have to be paid to your IVA company.
What is the set off argument in the PPI case?
The set off argument is based around the bank arguing that they can hold bank your compensation. They say they are allowed to use it to offset against the debt you did not repay them because you were in an IVA. The unrealised asset argument states that although your IVA is completed any PPI compensation you get now must still be paid to your IP.
Can a PPI claim be made against a third party?
Given yours was not an “All Assets” IVA starting new claims now is therefore an option as additional compensation may still be due. When claiming for PPI you always need to go to the bank which originally sold you the insurance. If your debt has now been been sold to a third party your claims must still be made against the original bank.
Can a mis sold PPI claim be made after Iva?
You can claim for mis sold PPI after your IVA is completed. This is the case even if it finished some years ago. However you may not be able to keep the compensation due. Is it possible to make PPI Claims after your IVA?
Given yours was not an “All Assets” IVA starting new claims now is therefore an option as additional compensation may still be due. When claiming for PPI you always need to go to the bank which originally sold you the insurance. If your debt has now been been sold to a third party your claims must still be made against the original bank.
The set off argument is based around the bank arguing that they can hold bank your compensation. They say they are allowed to use it to offset against the debt you did not repay them because you were in an IVA. The unrealised asset argument states that although your IVA is completed any PPI compensation you get now must still be paid to your IP.
What happens if I refuse to pay a PPI?
You can’t blame your IVA firm for not telling you something they weren’t aware of. If your IVA is still in progress then your IVA firm has the right to collect this PPI. If you refuse to co-operate with the claims company they appoint, you could be in breach of your IVA terms by refusing a reasonable request and your IVA may be failed.