Holding deposit been cashed left with no money

[adam090376]

Hi All
I wonder if you can help me. I am currentyl in an IVA.
Our landlord is selling the property we are living in and so we have decided to move and found a new flat costing the same rent as we pay now. We have given our landord the months notice and everyhing was Ok to move on the 25th January 2008. However we now have a big problem as the estate agent asked for a holding deposit to secure the flat this was not a problem at the time as we were told that the cheque we gave them would not be cashed but held as security should we pull out of the move. However the estate agent has now cashed the cheque which has taken all our money and we cant pay any bills and have no money as well as now incuring bank charges. Luckly I have already paid my IVA this month. I know this isnt the normal kind of question on here but I need some support and advice on how to proceed. I Look forward to your advice.

[zoe]

Hi Adam C
Have you asked for it back?
Also would you get your deposit back from your previous landlord???
Z


Zoe
x
Keep your chin up - everything happens for a reason!
View my blog http://zoes.blogs.iva.co.uk/

[adam090376]

Hi Zoe
Well we could ask for it back but even if they give us a cheque we stil have to wait for it to clear and leaves us with no money till then. With regards to our other deposit this is currently held by the same estate agent meaning they have two lots of our money at the moment.
Basically they £1600 of our money now £800 for holding deposit and £800 from previous deposit.
The main point of my post is that we have not actually signed any paperwork yet and already the estate agent agent is cashing our money for their own means. You would have thought they would have held the cheque till the 25th and if we dont move then they can cash it.

[zoe]

Hi
I would definatley go and see someone and tell them what they have done - it left you with no money for bills. At the end of the day if you are calm and nice to them there are things they can do - forexample they can do a CHAPS payment - which is a same day transfer into the bank for you (as long as sent before 3pm) or a BACS payment. They may be reluctant to do chaps as costs a bit, but im sure they will do all they can, after all they are in the wrong!!!
Z
x

Zoe
x
Keep your chin up - everything happens for a reason!
View my blog http://zoes.blogs.iva.co.uk/

[aguise]

I agree with zoe they shouoldnt have done this i would be on the phone telling them to go to the bank and get the cash to either put straight back into my account or bring directly to me, if you get charges make sure they pay them as well.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[adam090376]

Thanks for your views.
I will give them a call and see what we can do.
Hopefully it will sort its self out and they will give me the money back.
Will let you know what happens.

[aguise]

Good luck adam. It makes me so angry when people do things like this not thinking of the repucussions to someone.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[MelanieGiles]

I find it strange that they would ask for a cheque and then not cash it. A cheque is only valid for 6 months. Are you saying that this was just to hold the flat until you moved in? If this is the case I would go and camp out in the estate agents office until the produce you cash or agree to do a same day electronic transfer of funds.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[adam090376]

Hi Melanie
Yes the cheque was only supposed to be a holding cheque to secure the flat until we could move in on the 25th January. Why with 10 days till we move they have cashed it is beyond me. Will be going round there this afternoon to see what they have to say.

[MelanieGiles]

And don't leave their office until they give you the money!!!

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[Skippy]

I hope it went well this afternoon Adam and that you've got your money back.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[adam090376]

Hi All
Just to let you know the estate agent gave me my money back in cash and said sorry so alls well that ends well.
Can look forward to moving at the end of the month now. Just one more question. My rent and living expenses have not changed in any way so will this be Ok with my IP. Should I have got there pernmission first? I cant see a problem as it dosent affect my IVA payments but just want to make sure.

[MelanieGiles]

You do not need permission to move to another property if the costs are going to be the same, but just make sure you provide them with a forwarding address.

Glad to see you got the money back!

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp