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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I have a completion letter dated march 23rd 2015 IVA

Resolved Question:

I have a completion letter dated march 23rd 2015 for an IVA that was taken out in 2008, since then SHL solicitors and commissioner for oaths have asked us after the 23th March to sign authority letters for fight for any PPI refunds that may be due to us to benefit the IVA. If I was to receive a cheque for a PPI refund do we legally have to give back to the IVA even though our iva finished in October 2014 and we have a completion letter advising us that the iva has been completed and we have successfully done all that was asked of us. Can they take money from us even though the iva has finished. Do we have to give back any refunds should we receive them now?
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.
Hello my name is ***** ***** I will help you.
Was the PPI in relation to loans which were included in the Iva please?
Customer: replied 1 year ago.

PPI refers to the credit cards listed in the iva

Expert:  Ash replied 1 year ago.
It's bad news I am afraid, if the cards were included in the IVA then if there is a refund of PPI then it goes back to the credit card it was paid on. This is because whilst you may be out of the IVA technically if there was a balance on the credit card included, the it will go back to the card company to reduce the arrears.
Therefore the money is in arrears and will be used to reduce that balance. If the arrears were less that the refund of PPI then you would get that portion back.
I am sorry if this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honest.
Can I clarify anything for you about this today please?
Alex
Ash and 2 other Law Specialists are ready to help you
Expert:  Ash replied 1 year ago.
Hi

I am just following up to see if there is anything else I can help with?

If you have not done so already might I ask you to rate my answer before you go today please, the button should be at the bottom of the screen.

If you need more help please click reply.

Alex