There have been no judgements. Some firms refund, others do not, whilst a few refund to some clients and not to others ( as a "reward" for signing assignments). It ius all a bit hit and miss.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
It is whether it impacts on your tax liability that is important.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
I cannot speak for DFD but I do agree with both Foggy and Lifenoteasy. The interest on the repayment is taxable and needs to be included in any return to HMRC. Most times now it is not a problem as the bank will deduct it and pay it over or the I.P. will do so. Previously we rebated a percentage of the interest to our clients so they would have the money but not any more.
Some firms apparently rebate the interest but I have no idea why.
Barclays have finally agreed to pay out on an old PPI policy that they initially refused.
It was a small policy but done over a long time from around 1998! So whilst the PPI payment isn't huge the interest is almost as big in itself and would make a huge difference to us right now.
Barclays have already deducted tax so that's ok.
Ironically Barclays was the worst creditor for laying on huge charges when we started to struggle all those years back too so I'm glad they paid out in the end. I do hold Barclays above all others slightly more responsible for our debt issues as at one stage they were piling on up to £90 a day in overdraft and refused DD charges - of course it was ultimately our own mess but we stood no chance against that.
Time will tell on the interest...
"Hope is the feeling you have that the feeling you have isn't permanent." - Jean Kerr
IVA approved Aug 2008 - 6 year term - last payment made 6 Oct 2014. CC received 14 Nov 2014.
