PPI after IVA
How to claim for mis-sold PPI after an IVA has finished
Knowing whether you can claim for PPI after an IVA can often seem confusing. The answer can depend on many variables, for example, what was stated in your IVA Terms and Conditions along with any variations during your IVA.
You may therefore think that claiming for mis-sold PPI after your IVA has finished is improbable, but that that may not be the case. You can make claims both against the debts that were included in your IVA and against debts which were paid in full before it started.
- You do not need to know if you had PPI or not. We can check this for you.
- You think your PPI was completed when you were in your IVA but you didn’t receive any pay out personally or you are unsure of the results.
- You have never been Bankrupt
Find out if you can claim back your PPI
We have the specialist legal knowledge and regulatory understanding to pursue your claim and dispute with lenders and IP’s alike in areas of setoff or unrealised asset barriers. We have helped many IVA clients both current and former IVA.
● We will search for your PPI and tell you whether you have it. (the PPI search is free and confidential).
● If PPI is found, you can choose to use our specialised service to make your claim.
● No fees will be charged to you in respect of an unsuccessful claim or where the compensation is not paid to you.
Before you make any PPI claims you will need your IVA Completion Certificate. It is very important that you do not start any PPI claims before you have received this. If you do, any PPI compensation including damages and interest that you receive may still be treated as a windfall and will have to be paid into your Arrangement.
Why do you need help with claiming for PPI after your IVA?
There is no reason why you should not make mis sold PPI claims yourself. However, it is possible that the banks you claim against will refuse to pay you the compensation you may be due based on arguments relating to either “set off” or “unrealised assets”.
Alternatively, they may send your refund to your old IVA Company. If this happens you could raise a complaint with the Financial Ombudsman Service who provide a free and independent mediation service. However, they will not necessarily support your complaint.
Caroline Wayman, at The Obudsman, states:
As I’ve often pointed out, consumers generally aren’t financial experts. So although someone might have a sense that something’s not right, they might not know what’s happened from a technical point of view. Or, if they do know, worry and frustration might get in the way of articulating it clearly. Life moves quickly, and it’s likely that the longer a problem goes on, the more complicated it will become to explain it – let alone unwind it. So getting to the heart of what’s gone wrong won’t always be easy. But consumers are relying on financial businesses to do just that – and to treat them fairly in the process. Remembering to ask that simple initial question – and really getting to grips with the answer – is the essential first step in helping everyone move on.
How to proceed with your claim
To proceed with your PPI claims you will need to provide the following information:
● Your IVA completion certificate
● A list of the creditors who were included in your IVA and their original account numbers.
● Your IVA proposal and terms and conditions
● Any variations or modifications made to your IVA
Note: If you do not have some or all of these documents, they can be requested from your Insolvency Practitioner. Either you can contact them or we can do this for you.
What does it cost
We will charge you 30% plus VAT of any compensation recovered for you.
* A £10 fee may be payable if we need to request a copy of your file from either your Insolvency Practitioner or lender.
As an example, if we recovered £3,000 compensation for you our fee would be £1,080. You would receive £1920 as your compensation.
Our Fee: £3,000 x 30% = £900 + 20% vat = £1080
Most importantly, no fees will be charged to you in respect of an unsuccessful claim. If the compensation recovered is used by the bank to offset your debt or forwarded to your Insolvency Practitioner for distribution and we cannot get it back for you, there will be no charge.
You do not need to know if you had PPI or not. We will check this for you when we start your completed IVA PPI claim.
We will find out if you had PPI.
You might be due a claim even your IVA has finished long time ago.
Address: 4 Saddlers Court
Oakham, Rutland LE15 7GH
Telephone: 01572 897 442
Company Reg. Nr: 06758995
CRM number: 18097