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Hi there, i'm chris currently in a IVA this is a cheeky question! but I will ask anyway can you claim bank charges back and loan protection insurance well in a iva i know you can if you not ?

Hey Chris, welcome to the forum. I'm sure you can try but it will only reduce your debt so you won't actually see any cash. I'm not sure about loan protection insurance, please wait for someone more in the know to answer that.

Hi Chris and welcome to the forum.

If you feel that you have been wrongly sold payment protection and insurance and that your bank charges have been charged unfairly, then there is no reason why you should not try and claim a refund.

However - any payment you receive would be classed as a windfall and would have to be paid into the IVA for the benefit of all the creditors.

One thing you may also want to consider is whether or not you will incur any costs in making such a claim and how you will pay for them.

I would also think very carefully about the possible consequenses of trying to make such a claim. Your creditors have already agreed to write off a proportion of your debt by approving your IVA. If you are then asking them to refund payment protection insurance and bank charges, how sympathetic do you think they will be if you have a change of circumstances and need to ask them to accept a lower offer?