Claiming back bank charges in IVA.

[Janey]

I have just entered into an IVA earlier this month, can I try to reclaim bank charges from Yorkshire bank when they are one of my creditors? Frightened to start the process in case they get funny.

[MelanieGiles]

Yes this is possible, but if you are successful then Yorkshire Bank will probably seek to offset this against any claim they have in the IVA. So you have to ask yourself is it worth it, although your other creditors may potentially benefit but not you directly.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Janey]

Melanie, thanks for your speedy response. I have looked into this a little bit and know that any money I claim back will go directly into my IVA so that is not my main motivation. One of the reasons why I was thinking about it was because Yorkshire Bank have been absolutely horrible and have not helped me at all. I owed them approx 700 yet were probably one of my worst creditors. Over the past 6 years probably paid in excess of £3K in bank charges. Maybe in reality I would be better just moving on.

PS - Melanie when do you sleep, have been reading posts from this forum for a couple of months and you never seem to stop (not that I'm complaining as you talk a lot of sense!! Once again thank you.

[MelanieGiles]

Hi Janey

If your claim against the bank is valid, and eventually successful, then this will result in additional funds available for the main body of creditors, so it might be sensible to pursue. Talk to your own IP and see what they advise.

With regard to me, I have a hubbie who hogs the remote and is addicted to the Sci-Fi channel, so nothing else to do in the evenings but sit in my dining room with the dog! Seriously, the forum is just as educational for me as it is for all other posters - I can honestly say I too learn something new every day from the sharing of information. But thank you for your kind thoughts!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk