IVA Completed
Your IVA is formally completed after you have received a completion certificate. You can now make mis sold PPI claims. There is a good chance that any compensation due will be paid to you.
PPI stands for Payment Protection Insurance. Up until the mid 2000s it was sold by banks alongside loans, credit cards and other credit. The idea was it would pay the debt if you lost your job. However mis selling was rife. People were led to believe they had to take the insurance or it was sold to those who would never be able to benefit.
The mis selling of PPI was judged to be widespread and the banks have been forced to pay billions in compensation. If you have completed an IVA you may think that you are not entitled to claim for mis sold PPI. This is not the case. You can make claims and receive compensation even after you have been through an IVA.
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After you have completed an IVA there is no reason why you cannot make mis sold PPI claims yourself. However the banks may refuse to pay you the compensation you are due.
A Bank could hold back the money to offset against their debt. Alternatively they could say the cash is an unrealised asset and has to go to your old IVA company. We offer a service which can overcome these issues.
We specialise in working with people who have completed IVAs and Trust Deeds. We understand how to deal with the banks and your IVA company. We have a 90% success rate in getting PPI compensation in these cases.
So far we have recovered over £1.2 million in PPI compensation for our clients. Our customers had IVAs with Grant Thornton, Freeman Jones, Credit Fix, DFD, PayPlan and Kingsgate to name but a few.
You do not need to know if you had PPI or not. We will establish that for you. Each of your creditors will be contacted on your behalf and asked to provide information about whether or not you took out PPI.
All your PPI claims are made on your behalf and any negotiation which is required with your creditors to ensure that they hand over the compensation you are due is carried out. The claims team has a 90% success rate in getting the compensation that our clients are due.
The claims team will make sure that the amount paid is correct. The service is NO WIN NO FEE. You only be charged if you receive your refund. No fee is payable if a bank refuses to give you the compensation due for any reason.
In order to proceed with your PPI claims you will need to be able to provide the following information:
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.
There is no guarantee that your claims will be completed within any particular time frame. This depends on the willingness of organisations who sold you the PPI to co-operate. However as a guide most claims are finalised within a period of 4-6 months from the point you sign and return your agreement and associated Authority letters.
Our PPI after IVA claims service is truly no win no fee.
You only pay a fee when you receive your compensation into your bank account. At that point the charge is 30% plus VAT of the compensation you have received.
Example: If you receive PPI compensation of £1000 you keep £640
Your fee payable to us is £360
30% of £1000 = £300 + VAT @ 20% (£60) = £360
Part of the compensation you receive normally includes statutory interest at 8%. This is taxable. The majority of lenders pay the 20% tax due direct to HMRC before paying out the refund. If you are a higher rate tax payer you may owe additional tax.
Your PPI claims will be faster if you can provide account numbers. If not your claims can still go ahead. However Subject Access Requests (SARs) may be used to establish whether or not you had PPI. There may be a charge of £10 payable to the bank when the SAR is issued. You will be required to pay this.
Give us a call on 0800 180 8012 or complete the form to speak to one of our experts
Maple Leaf Financial has been helping people who have been mis-sold financial products since 2008. We have developed an innovative claim service to give YOU an exceptional opportunity to get back what should rightfully be yours.
Our claim service is designed to help you make an informed choice as to whether you should pursue a claim and to ensure that you have the best possible chance of winning a financial settlement.
We have the legal knowledge and skills to process your claim and an impressive track record of returning 90%* of all Completed IVA PPI payments to our clients.
There is no catch. If you don’t receive a refund, we don’t charge you.
Maple Leaf Financial Ltd is regulated by the Claims management Regulator in respect of regulated claims management activities. Our authorisation number is CRM18097.
*Accurate as of Sept 2016
CALL US ON 0800 180 8012 OR COMPLETE THE FORM BELOW TO SPEAK TO ONE OF OUR CLAIMS EXPERTS