I have 1 payment left in my IVA and also have PPI claims in progress.
I revceived a letter this morning from my IP (Kingsgate) advising that several years ago the OFT found a large number of financial institutions had overcharged customers for the likes of late payment charges and over-limit fees.
My IP intends to review the liabilities in my IVA to identify if I have been overcharged and determine if a claim is possible. If any claim is successful it will be classed as a windfall and paid directly into my IVA.
I haven't heard of this type of claim before so was wondering if anybody can shed some light on it please?
Hi Chezza. For the purposes of the IVA overpaid charges will be treated in the same way as PPI claims.
These relate to cases several years ago where the judge determined that charges for late payments, bounced cheques and the like should reflect the actual cost to the organisation ---- which was a couple of quid a time as opposed to the £20 - £30 they were charging customers.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I just hope that this does not delay your completion to long. If you dont think that you have any charges that could be claimed let your ip know otherwise things could drag on for some time
"Always remember that the future comes one day at a time."
IVA completed . Just started a blog, if you get chance please take a look. http://rich.blogs.iva.co.uk/
Yes I have had the same letter from Kingsgate on Saturday morning, I have 13 payments left, but I am guessing that they are trying to get as much money out of our IVA's as possible. I have no objection to them doing that, unless it delays IVA completion.
Hope Chezza it doesn't delay things. Incidentally, Chezza, I have my annual review on about 25 August with Kingsgate, have you had any final reviews from them yet, or does it happen after your final payment.
Thanks AllenHero
I guess it will all depend which company takes on this work, as part of my PPI review via EiF they also did the claims for over charging for late payments etc etc to which for the drawing out of my completion of an extra 12 weeks they claimed back a whopping £20!!!
IVA completion and certificate received 08/10/2012!!!
When I had my review last August I was advised that there wouldn't be another full review but when it comes to mopping up for completion if anything has been missed it will be highlighted.
I've been sending my salary slips each month and they have advised they may want to see some bank statements but this hasn't been requested yet.
When I had my review last August I was advised that there wouldn't be another full review but when it comes to mopping up for completion if anything has been missed it will be highlighted.
I've been sending my salary slips each month and they have advised they may want to see some bank statements but this hasn't been requested yet.
Oh my goodness 12 weeks for £20, I would rather pay that extra myself!!
The company being used is EIC & reading other posts I'm not expecting closure until 2013 but it will be nice to make the final payment in 3 weeks time.
Must admit have always sent payslips, but it seems that if they wanted to see any bank statements, they would have requested by now. It's always a disclaimar on each year in the IVA notes.
Unless you're self employed, can't see why they would want to see them
I will send them payslips each month now from September, as I know at Xmas, I may get a bonus, so wiil want to pay that asap.
Hi, can i just ask? Have you been asked to send monthly payslips in? I too am going into my final year soon but not with Kingsway so i was just curious.
I have had just had my 4th annual review, and are currently awaiting whether I have to pay any more in my final year.
All throughout my time with Kingsgate, I have supplied payslips and my annual P60's. I have asked in respect to my final year and they have said that I would have a final review, with any outstanding monies to be paid as well (ie bonuses from work). In respect of payslips, they will be submitted when requested next July. How about yourself?
Well this is what has always confused me, i only supply three months worth of pay slips and bank statements once a year.I am just about to do my fourth one and havent even mentioned my final review so i dont know if that will be any different. So are you expecting your IVA to complete at month 60?
