reclaim some bank cahrges from a former bank

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s.s.

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Post by s.s. » Mon Jul 16, 2007 3:59 pm
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I started an IVA January 06 and have just recently decided to reclaim some bank cahrges from a former bank. They have offered me a sum of money but say they are going to send it to my IVA supervisor, should i accept of course. Are they allowed to do this? Does this mean i wont see a penny of what i think should be mine?
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mick.i

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Post by mick.i » Mon Jul 16, 2007 4:01 pm
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99% sure that the money will be treated as a winfall so will go to your creditors.
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Oliver

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Post by Oliver » Mon Jul 16, 2007 4:03 pm
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I agree with Mick. This money will likely have to go into your IVA and be spread amongst your creditors.

Best Regards
Oliver

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

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Post by iva_squirrel » Mon Jul 16, 2007 4:09 pm
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Hi s.s.

I'm afraid Oliver and Mick are right, if you receive that money it will go to your creditors.

Regards,
Michelle P.
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PoorbutHappy

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Post by PoorbutHappy » Mon Jul 16, 2007 8:47 pm
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Lloyds just reduced my balance with them when I complained about various things.

Least its another £4K off what I owe (so the rest gain slightly when it comes to hand out time) and felt good too!
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MelanieGiles

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Post by MelanieGiles » Mon Jul 16, 2007 9:31 pm
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The monies are classed as a windfall and will need to be paid into your IVA.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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jpj

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Post by jpj » Wed Oct 17, 2007 6:01 am
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Melanie. Can the banks offset the refund against what you OWED them? I presume if you are in an IVA and the debt has been sold on, they have no choice but to send it to your IP so it is divided fairly?
I know everyone is waiting for the OFT court case, but I have read that only Devon and Wales have put a blanket ban on cases and that some other cases are still going ahead !

JPJ[B)]
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MelanieGiles

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Post by MelanieGiles » Wed Oct 17, 2007 9:51 am
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Yes - the banks can offset this money agains their debts, even if the debt has been assigned to someone else.

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
Regards, Melanie Giles, Insolvency Practitioner
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