I entered into an IVA Feb 2008 and a court order was made for 5 years of payback. I complied with all terms and payments as required and payments ceased in Feb 2013. But, due to PPI claims now being made part of my "estate", the debt recovery company began the reclaims process back in summer 2012. This is still dragging on and the company have decided to extend the court order for another year in order for the PPI recovery process to continue (fishing expedition). My problem is that I cannot get signed off from the IVA or removed from the Insolvency register untill the claims process has run its course. Can the company continue to extend the court order arbitrarily? Advice please. Thanks Tony XXXXXXX- *****@******.***
Hello my name is ***** ***** I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply as this is not an ‘on demand’ live service, but rest assured I will be giving your question my immediate attention upon return. There is no need to wait here, you will get an email when I reply.
As the PPI out of a loan in the IVA please?
sorry, whats the question -"As the PPI out of a loan in the IVA please?"
Some of the loans were, some of them were from cards long gone. As far as I can ascertain they have contacted virtually all the banks (35 cases they tell me). Personally I think they were "fishing trips".
The point is:- I desperately need to start rebuilding my credit rating. All the time they keep on appealing decisions when a bank says NO to a claim this extends the time that I have to languish on the Insolvency Register - (I almost lost a job really as I stated I was no longer in an IVA) - until they the company decide to settle my estate and sign me off. Can they arbitrarily alter the courts decision back in 2008 that I was remain insolvent until Feb 2013? Their intransigence in settling is greatly affecting my life and future prospects, I'll be out of my home in a few years unless I can remortgage soon! Or maybe they earn interest on the monies while they hold it - just being cynical!
Not in bankruptcy - Individual Voluntary Arrangement. ANd I'm not disputing the fact that they are claiming the monies I would love to have, just the inordinate amount of thime I'm having to put my (financial) life on hold
6 years from court judgement date? Even though it specifically said 5 years?
I have made no payments since March 2013 and have a confirmation letter that any windfalls from any source excluding PPI will not become part of my IVA estate - so if I win the lottery they cant have it!
If you have met all the repayments and conditions then you should be released.
Does that clarify?
This is my argument to the management companies, but they insist they can pretty much do as they like. Is their a legal precedent or route to get them to expedite the closing of my IVA?
You may need to apply to the Court for an order that you are released. They can't just do what they want without good reason
Does that help?
How do I do that