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tdlawyer, Lawyer
Category: Law
Satisfied Customers: 1096
Experience:  11 years experience of general practice.
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Hello, i am currently in IVA, started 3 yrs ago. About a year

Customer Question

Hello, i am currently in IVA, started 3 yrs ago. About a year ago, I received refund of PPI from a loan which had been settled in full 4 years prior to the start of my IVA. Do I have to declare this refund to my IP.
Submitted: 3 years ago.
Category: Law
Expert:  tdlawyer replied 3 years ago.

tdlawyer :

Hello, welcome to the website. My name is Tony, I can assist you with this.

tdlawyer :

Normally, you would do yes. It does depend on the content of the IVA itself, but normally, you would expect to see a requirement to notify the supervisor of any lump sums you received whilst in it's term.

JACUSTOMER-wws4qiye- : Even if the refund was from some one who is not part of the IVA
tdlawyer : Yes because the IVA will bind creditors who are not even party to it.