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[Chapman72]

Hi all,

I finished my IVA last September and got my completion certificate in Dec (2012). After that I was frankly relieved to get the whole thing over with and I did not even consider claiming for PPI. However a couple of my friends recently claimed and got quite substantial payouts so understandably I got interested.

I have been doing some reading and I have to say I am confused. Can you advise? I was never asked to claim while I was in my IVA. However now i am out the other end can I claim? If the answer to this is yes then will I get the money or will it go to my old IP even though my IVA is finished?

If you can give me some straight answers I would be very grateful.

[Steve Jackson]

Hi Chapman72 and welcome to the forum.

I understand that the situation regarding claiming for PPI after you have finished an IVA can be confusing. I will try to give you a clear answer.

First of all there there is no question that after your IVA has finished and you have received your letter of completion you can make PPI claims as long as you have not claimed in the past.

The difficulty comes once you start making your claims. If you are due compensation, it is likely that the banks will not pay this to you. Firstly they may argue that they can keep the compensation to offset against the debt you did not pay in your IVA. Secondly they may argue that the compensation should be treated as an unrealised asset of your IVA and so paid to your IP even though the IVA is already closed.

Unfortunately if you try to make the claims yourself there is very little you can do to overcome these problems and you will probably be stumped. That is why I would recommend that you always use a specialist service to help you. For more information about this see Claiming PPI after an IVA is finished

[Geraldine]

You should always use a specialist claims service if you want to make a claim for PPI after you have finished an IVA Chapman72. Have a look at the link that Steve posted for more information on this.

You cannot use a standard PPI claims management company as they will not have the experience and legal skills to overcome the arguments of offset and unrealised assets which the banks could use. You could even end up without your compensation but still owing the claims company their fee. So make sure you use a specialist who will not charge you unless you physically get your compensation cash into your bank account.