www.iva.co.uk

Here's one to cogitate,

I've been through a joint IVA with my now ex wife which we made a full and final settlement offer on proir to getting that divorce. Since getting the completion certificate I've claimed for unfair charges re the above account which the Co - Op have aceeded to, and 'credited my account' with.

My question is this, as the IVA has been settled, and the account closed as part of the IVA, can they legally offset the charges against a balance that surely shouldn't exist following the IVA process?

I'd be grateful if anyone can shed some light on this, particularly from a legal point of view.

As a point of interest, had similars claim with with a couple of others and they paid out by cheque with no such issues.

I am not a lawyer but I would do the same if I were the Co-op. Given that they did not receive all their money back from the IVA this will reduce their losses. Had the IVA been in place they would have reduced their claim and had they no claim the money would have been a windfall and distributed to all creditors. This is only my opinion and you could seek legal advice on it.

I agree with Michael. If I was in the Co-op's position I would do the same.

evening ive just recieved a letter today from tyler morgan on this subject,it states if you have been issued with a completion certificate any compensation you get from,loans,credit cards overdrafts that were included in your iva you can keep.they have sent me a newsletter regarding claiming money back regarding ppinsurance,and said they can clear up my credit files etc.not sure how i feel about this.

I imagine this will come at a cost. If you are going to try and claim anything then I recommend you do it yourself.

to be honest jan its never entered my mind,and i,m quite happy sorting out my own credit files with the help of skippys blog,would you bother trying to claim compo jan when your iva is comp.

Companies like that aren't going to be doing this for the good of their health so as Jan says anyone considering it would be better off doing it themselves.

I won't be bothering to claim any charges back at all. I can't be bothered with the hassle. I never took out PPI so it doesn't apply to me.

I'm just thankful to have a second chance.

Thanks for all the thoughts so far, I was under the impression that as the IVA was a legally binding agreement, cases such as this would be clear cut. However it does seem that this is not the case. I've taken some advice from a reputable source and I'm going to contact the Co op directly with a few well chosen phrases to see where it gets me, its worth the cost of a stamp if nothing else. . .

If your IVA has completed, then you are discharged from the debts and the debts no longer exist. Therefore creditors should not entertain a claim from any of their former customers where the IVAs have been concluded.

My IVA is completed and no former creditor has any rights to any of my money from now on. If a million pounds went into my former Barclays account, where they had to write off a lot of money - they would not be entitled to a single penny - end of!

It is an interesting point though that you could possibly be entitled to refund of charges, interest, maybe a compensation payment when the creditor has had to write off some of the debt.

thats my thoughts exactly,my creditors were good enough to vote in favour once to accept my iva proposals,then a second time to accept a f&f offer.resulting in them taking a 70p in the £ shortfall so i,m not going to chase them for a few hundred pound compo.i,m relieved and thankful to comp my iva.

Surely if the debt is written off then everything is finished and you wouldn't actually be entitled to make a claim?

I cannot see how you can claim for compensation against a debt that has been written off, but it is an interesting point.