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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 31300
Experience:  Over 5 years in practice
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I have been in an IVA it finished almost a year and a half

Customer Question

I have been in an IVA it finished almost a year and a half ago now, i have all the paperwork which states that. I sent of a claim for mis-sold ppi from one of the bank loans, they made an offer but their system still said i was still in my iva so they rang the company up to find out. The iva didn't tell them it was finished and asked for the money to be sent to them, i have tried to correct it but the iva company are now saying i can't have it and their going to split it between the creditors (to do with the TRUSTED LAW?) Even tho its ppi money from a loan before i started the iva, and the fact they let the bank think i was still in it! Can they do this??
Kind Regards
Jenny
Submitted: 4 years ago.
Category: Law
Expert:  Alex J. replied 4 years ago.
Hi

Thank you.

Do you still have a copy of the IVA? Does it list which assets should form part of the IVA?

Kind regards

AJ
Customer: replied 4 years ago.

Hi


 


I have all the paperwork which includes the chairman's report to court, the final report of the supervisor and the proposed IVA letter and a schedule of creditor claims. Does this help? And all the finished paper work too including a letter from experian.


 


Thank you

Expert:  Alex J. replied 4 years ago.
Hi,

Thank you.

Their argument will be that this money relates to your assets before the IVA was distinguished.

Therefore what I need to know is what it says in the report to the court about your means when the IVA was agreed?

I presume that when the IVA ended you believed you did not owe your creditors or IVA organiser any money?

Kind regards

AJ
Customer: replied 4 years ago.

Hi,


 


Thank you for your reply, I didn't really have any assets apart from my car at the time can't really see anything that states that just expenditure list.


Yes I believed I would not owe any more money, It states in one of the letters it a legally binding agreement creditors will be prevented from taking further action and adding further interest .My final completion letter states that the unpaid balances are written off and the creditors have no further claim against these debt.


 


Kind Regards


Jenny


 


 

Expert:  Alex J. replied 4 years ago.
Hi

Thank you.

Have you made a formal demand in writing for the money from the IVA company?

I am afraid if they do not repay it you will probably have to sue them. How much money do they have?

Kind regards

AJ
Customer: replied 4 years ago.

Hi,


 


I have written a letter today asking for the money and stating everything along with evidence enclosed.


Its a large amount, £8449 and the claims company that started the ppi claim of for me say I still need to pay them their 15%. Does it cost to sue? and if it came to that point how would I go about it?


 


Kind Regards


Jenny

Expert:  Alex J. replied 4 years ago.
Hi

Thank you.

You would have to issue a claim form in your local county court using form N1. The costs would not be relatively large if you represented yourself.

I think that you can say to the claim company that you have not actually received any money so you are not prepared to pay them. Check their terms and conditions they may say that you only pay 15% of what is reviewed?

I look forward to hearing from you.

Kind regards

AJ