creditor call helped me out

[Darkdog]

some time ago I got a PPI claim going against Barclaycard via a no win no fee company, I thought no harm in that. Anyway, I had forgot about until today when I got an E mail from the claim company telling me that as Barclay card have failed after all this time to provide a substantive response they are now escalating it to the Financial ombudsman But I needed to give the date when the card was taken out. I had no Idea, it was ages ago. Then I got a call from Barclaycard (a creditor) and went through the security bit, then I asked if he could substantiate he was from Barclay card by telling me when the card was taken out, he gave me the exact date, it was in 1998. Then ended the call by telling him now seeking an IVA. If anything ever comes from this then I may get some extra funds to throw into my IVA.

[kallis3]

Good news Darkdog. You may find that Barclaycard keep this to offset against your debt with them, or you may find that you need to pay it across to your IVA.

Either way, you will be paying a greater dividend to your creditors.

Once you get this, then you need to let your IP know.

[Darkdog]

ahh Kallis3, you made a good point there, if anything did come from this I would hopefully be a good few months into an IVA, so could barclay card just keep it, how would that sit with other creditors?. Then there is the point that the claim company get any money in, take their 15% and send on the balance.

[kallis3]

If they did keep it, it would mean that their claim would be less, so your other creditors would get a higher dividend.

I think that's how it works.

[MelanieGiles]

Clever boy!

[Declan at DebtFreeDirect]

I agree with Melanie on this one!