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 Completed IVA and PPI - defined assets?!?
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Just Joined

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Posted - 20 Nov 2018 :  15:46:46  Show Profile  Reply with Quote
Hi I entered into an Iva in 2009 and following horrific personal / family circumstances was left in a position that I wouldn’t be able to make further payments - so with assistance from family made a F&F that was accepted in 2011 and completion statement issued.

Now I’m being made aware of potential PPI that maybe have been on credit agreements prior to IVA (and not included in IVA) - my IVA was I believe with the standard wording of the R3 regarding after acquired assets but my personal proposals (which were agreed and what the IVA was based on) has a clause in it that states
“No assets are to be included in this proposal other than the above mentioned property”
(A property with a secured loan (mortgage) that I shared with my then partner.

Am I right I’m thinking the specific clause overrules the standard Iva wording regarding assets and any PPI payments would come to me or am I on a hiding to this not being the case and dragging a whole chapter of my life up that was very difficult? Can anyone assist?
Thank you

IVA Adviser
IVA Expert

786 Posts

Posted - 22 Nov 2018 :  09:12:08  Show Profile  Reply with Quote
Hi lou375.

I'm afraid we cannot specifically advise you on this point.

Your question is essentially a legal question about specific terms in your contract and which take precedence. We're not trained or authorised/regulated to provide you with legal advice.

You may wish to see if you can get advice from Citizens Advice, a local free law centre if you have one, or a solicitor.

I am a professionally qualified debt adviser. To contact me about starting a IVA please:?á      
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