I entered into an IVA in October 2005 because my circumstances changed the IVA was extended for a further 12months. I was told my IVA finished in October 2011. I have asked for a completion notice on several occasions and nothing has been forthcoming. I wrote a letter to the Insolvency Practitioners , kept a copy and sent it by recorded delivery two weeks ago and have since heard nothing. In the meantime I have successfully claimed mis sold PP1 and the money has been sent to the Insolvency Practitioner.I telephoned their office yesterday asking for a completion certificate and they said that the IVA was still in place and that the money from the PPI was classed as a 'windfall' and was required to be put into the IVA.In the original IVA proposal it states that such 'windfalls' would come under the juresdiction of the IVA I reitterated that as far as I was concerned the IVA finished in October 2011 and eight months on this should not be the case.Plkease can you advise?
System of Law: England-and-Wales
Rang the Banking Ombudsman who advised me to contact the Insolvency Practitioners.
Thanks for your question. Please remember to rate my answer SMILEY FACE OR ABOVE so that I am credited for my time.Was the PPI as a result of a loan etc included in your IVA?
And you are still subject to an IVA?
Thank you.The matter is straight forward.If you have been released from the IVA then the PPI money is yours.If you may not been released from the IVA then the PPI money is not yours.So it all hinges on whether or not you are released from the IVA.If you have a letter from the IP or some other documents confirming that you are or will be released in October 2011 then you are ok.If on the other hand when you say you were told it would be oct 11 and this was via phone or some other non written down media, then you have difficulty.This is because you would need to prove that you were told you would be or in fact was released.In any event they may argue just because you were told you would be released does not mean that you were released.If you took the matter to court though I do not think that a judge would find in your favour.There is a legal doctrine called equity which is about the right thing but it can only be used as a shield not a sword.As such I do not think a judge would find that you are entitled to the money when you have entered an IVA and the PPI claim is a result of a loan that was in arrears and written off in the IVA.So you need to check to see if you were officially told you were out of the IVA.If so, you have a case, if it was in writing. If not then you are in difficulty.I am sorry if this may not necessarily be the answer you are looking for but based on what you have said, this is the legal position. Please remember to click *** SMILEY FACE *** or above so that I am credited for my time. Thank you. Important: If you feel the need to rate as one of the lower two scores, it counts as negative feedback so please reply to me via the REPLY with any further questions you may have. I will be happy to assist you further.
I'm just following up with you to see how everything is going. Did my answer help?UK-Justice
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).