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Stuart J
Stuart J, Solicitor
Category: UK Law
Satisfied Customers: 22618
Experience:  PGD Law. 20 years legal profession, 6 as partner in High Street practice
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I have entered into an IVA in 2010 using Grant Thornton as

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I have entered into an IVA in 2010 using Grant Thornton as agent. they in turn are using another agency who is claiming PPI compensation from IVA creditors as asset. That I understand they can claim.
However, I have a secured loan (not an IVA creditor) and received PPI compensation £4,600, must needed for basic bills because IVA payments were calculated to high. I did declare this PPI claim to Grant Thornton in April 2013 and offered to pay £1000 towards IVA. Also chased them for advice. Only in October 2013, received a call from G. Thornton saying that it was not my money to spend and i should have paid them directly 100% even if PPI was not from an IVA creditor.
They have told me I am in breach of contract, that the creditors need to forgive me for this breach and I have a meeting with them to discuss why the money was not sent to them.Is this legal or a scare tactic?

Thank you for the question. It is my pleasure to help you with this today. Please bear with me if I ask for more information.

 





It does not
actually make much difference whether this is a PPI mis-selling reclaim or is
this a claim for sickness or redundancy on a PPI policy?

In actual fact it
makes little difference apart from the fact that the former gives a lump sum
and the latter an income.



Regardless, it is
treated as income and you are under a duty to declare all extra income to the
IVA administrator.



What they are
saying is actually correct and you are required to account for this money,
whether it is a mis-selling reclaim or a claim on the policy itself.





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