Letter from a bank who is in my IVA

[ray_a]

I had a letter from my bank informing me that interest was still being added to my account which I thought would have been closed when the IVA took place.

In addition it is now 2 1/2 months since we sold our house and I have had no certificate of closure.

Do the experts think this is normal and any ideas as to how we can close this down as we want to move on!

[sonyse2t5]

Interest will aways be added and arrears until the IVA meeting.So it is imperative the meetings don't take too long.

Creditors will scoope ever penny in the meantime.

[MelanieGiles]

Ray

The bank should not be continuing to charge you interest, and the IP will certainly not work out their dividend on an increased claim.

The fact that you sold your house some time ago, has no real bearing on the timing that your IVA will be closed, but obviously it is in everyone's best interests to effect this as soon as possible. Give your IP a ring to establish what is causing the delay.

In my practice we don't pay ourselves on full and final settlements until we are closing the case, so if your IP works on the same basis there must be something particular which is holding matters up such as the agreement of creditor claims.

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

[Adam Davies]

Ray
Presuming that this account was included in your IVA then they can,t add interest etc post IVA.
My settlement took three months from the time that money was paid over,but I made a few calls to gee them up.
There should also be three months interest on that money Ray,ask for it back.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[ray_a]

Many thanks and will let you know what is going on!

[Oliver]

Once the IVA is accepted no further interest or charges can be added.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[Endsmeet]

Funnily enough, I today have just received a letter from Lloyds TSB today stating overdraft charges of £8 will be taken out of my current account on the 1st October 2007. Considering they were my main creditors and they voted yes to my IVA proposals on the 9th Aug 2007, I find this quite amusing to say the least as I presumed that my current account with them would be closed automatically. The other funny thing is that I also received my NEW debit card for the same account...I mean[:0]
Anyway, I've forwarded the letter to my IP and they can do the necessarys with Lloyds TSB.....

59 and counting as of 21 August 2007

[ray_a]

I will be writing to my IP enclosing the paperwork!