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Posted: Mon Oct 25, 2010 10:38 am
by animaleyes76
I got my 4th year Chairmans report on Friday, and what a surprise it contained.
My major creditor (accounting for almost 50% of my debt) didn't bother to make a claim.
This, even after a "if you don't claim in the next 6 months you will be excluded" clause inserted as part of a mass variation exercise sent about 10 months + ago.
So i now have a situation where the remaining creditors will be paid in full, and money left on top of IP fee's.
The amusing thing is that this company were the ones that were the biggest nightmare, calling me 3 times a day etc before the IVA was setup.
Funny....
Posted: Mon Oct 25, 2010 10:49 am
by quark2008
My goodness !!!
Posted: Mon Oct 25, 2010 11:18 am
by Adam Davies
Hi
Wow, my understanding is that you will retain any monies over the 100p to your creditors plus IP fees.
Regards
Posted: Mon Oct 25, 2010 11:36 am
by Michael Peoples
Seems madness but their problem. Did the creditor go out of business or are they still around?
Posted: Mon Oct 25, 2010 12:08 pm
by kallis3
You could be due a bit of a windfall!
Just being nosy, who was the creditor?
Posted: Mon Oct 25, 2010 12:21 pm
by animaleyes76
It was Barclays Bank!!!
The funny thing is all the Barclaycard stuff i had was sold to max recovery, but my current account, overdraft and loan (worth nearly 17k) wasn't.
The schedule of payments now shows no claim monies due to them and my IP has confirmed that this amount won't be included.
I worked it out that there is about £2000 excess monies.
The thing that also makes it even funnier (in my mind at least) is that I previously successfully claimed back my current account overdraft bank charges from them, and they actually paid them directly to me, rather than offsetting against the debt!!
Admittedly half of this went to the IVA but that's another 2k they lost out on lol.
Careless!!
)
Posted: Mon Oct 25, 2010 12:52 pm
by kallis3
Very!
You'll be able to splash the cash sooner rather than later now!
Posted: Mon Oct 25, 2010 12:56 pm
by plasticdaft
No wonder the banks went belly up! So what rate of interest does your iva holding account offer?
Paul
Posted: Mon Oct 25, 2010 2:11 pm
by nomoremoney
The 'error' has worked in your favour....let see more bumbling errors on the way and we all get some of our IVA payments back.But I feel these are one offs. An IVA lotto if there is ever one....
Posted: Mon Oct 25, 2010 3:35 pm
by Skippy
I'm just glad it's Barclays - horrible bank!
Posted: Mon Oct 25, 2010 4:28 pm
by kallis3
Actually I quite like the bank! Not the credit card side of it though!
We still have a full account with them which I pay the odd amount in here and there to keep it open and will revert back to that as our main account once the IVA is finished.
I'm not impressed with Nationwide at the moment!
Posted: Mon Oct 25, 2010 4:33 pm
by Skippy
Isn't it funny how banks treat different people in different ways? Barclays were awful when I tried to open a basic account, and I've never been impressed with them in the past.
I nearly had a fit when my mum (who must have been about 75 at the time) told me that they had suggested she apply for a loan - she's only got a state pension!!!
When I was going into my IVA Barclaycard were great - they said they would put a hold on my account and they did, I never heard from them again.
No consistency!
Posted: Mon Oct 25, 2010 4:39 pm
by kallis3
Certainly isn't! Barclaycard were constantly on the phone to me once we got into difficulties.
Posted: Mon Oct 25, 2010 10:44 pm
by spla
you got my ears and eyes pricked up when i read this im 4yrs 8months into my iva got same letter , and out of £75000 debt about £1500 has been claimed ? am i reading this right i might get
some cash back ???? my last payment is 25/12/2010
Posted: Tue Oct 26, 2010 8:04 am
by kallis3
It is a possibility. It's something you need to sort out with your IP.