Post
by
s.g » Fri Aug 31, 2007 3:18 pm
Hi,
I have just today had my IVA accepted:
a) one co has put a clause in saying that if they repay me any money back ie due to me challenging them on bank charges and interest, it goes immediately to pay of their balance only, which is fine with me. This co, RBS who own Nat West, had not sold the debt on. They have already previously paid me back £3000 in charges etc on one of the accounts including in the IVA but have never responded in relation to the other)
However, there are 2-3 other debtors (credit cards) who have sold the debt on even though I had payment protection and despite repeated requests have never sent me the forms to claim. My IP suggests that I pursue them as we are in the "proof of debt" stage but are they likely to respond to my letters, calls and requests for refund of charges, costs etc and payment protection payout, when they have a) sold the debt on and b) find out that I am in an IVA (although presumably they would only know this if the company they sold the debt to which has agreed to the IVA told them)
What should I do as I would like to do anything possible to make these companies pay me back to reduce the balance especially as in some cases the interest on the debt has been horrendous and then when they sell it on, it keeps clocking up.
I was made redundant in July 2003 and one company GE Capital paid out on all of the payment protection as my employer made me redundant without notice/consultation/paying me etc and a tribunal stated I was unfairly dismissed, so the payment protection eventually paid out in June 2005. Do you think that I am too late to be chasing for the payment protection forms now even though I paid for it and the companies wont respond and send me the original agreement or the forms?
Also where there is no payment protection, can I still pursue them for unlawful charges etc?having searched your website further it would appear that basically there is little point in me claiming any charges or payment protection back because all it does is reduce the individual creditors balance and any surplus goes in the pot for all IVA creditors but in the meantime, the IVA still runs for 5 years and they can still keep claiming the monthly amount agreed at the outset and the term does not reduce either. No benefit whatsover for me. All it means is that they get even more money from me whilst I go through the stress and hassle of chasing them for something that they should have paid/or should not have charged in the first place. Best moving on with my life do you think?
