PPI refund

[repressed]

Hi I have just been awarded a ppi refund but I am in a IVA and if I accept PPI refund they will take it all could I postpone the refund for say a couple of years then reapply for it?
cheers

[sfby]

You mean you want to defraud your creditors?

[buildersmate]

Err, in a word, no.

[cathfromsaron]

no, thanks.

[Nibble]

No = fraud... As your currently in an IVA, then any income you receive is subject to the terms of your IVA, and would be sequestered to reduce your debts.

[buildersmate]

Very good for the complete answer, N.
Mine was short and to the point because I can't believe anyone would possibly believe they could be able to do such a thing.

[Nibble]

BM, it's the same way people get into IVA's in the first place - hiding income from debtors & hoping for the best... IMO

[repressed]

peeps I have not had the refund just been informed that its there all I was asking was - do i have to take it now?

[rowanwitch]

Surely you have a moral obligation to get as much money for those people you owe so maybe you could get away with not claiming it...it wouldn't make it right.

[lcg]

no...you don't have to take it now. but, if you apply for it later, you have to notify the person/official reciever dealing with your debt. if you don't, you are committing fraud by trying to hide money. ppi repayments are not considered as a 'windfall' income, and as such can be used to pay off your debts from the iva. especially if the ppi is from a loan included in the iva. no such thing as a free ride, i'm afraid.