Are we entitled to money back from clear debt ? Our IVA completed 3 years ago

Get expert opinion. This is the place for new questions to be posted.
3 posts Page 1 of 1
User avatar
Les.94
Posts: 2
by Les.94 » Sun Dec 24, 2017 3:35 pm
our IVA was completed about 3 years ago. We have just had a letter from Lloyds regarding a credit card. They refused to pay out on missold PPI issue, but have agreed now to our surprise that on a high commision rate we are due £1500 they say they have paid this directly to Cleardebt our IVA company. Since the decision re the commission rate came well after our IVA was completed, Are we entitled to this money back from Cleardebt. We actually paid over the original agreed level of IVA as our income increased year on year.
User avatar
kallis3
Forum Expert
Posts: 73280
Contact
by kallis3 » Sun Dec 24, 2017 3:39 pm
Unfortunately as this was an asset in your IVA it is due to your creditors and will be paid across.
User avatar
Foggy
Forum Expert
Posts: 26527
Contact
by Foggy » Sun Dec 24, 2017 4:14 pm
This, albeit unknown at the time, existed during your IVA and is therefore an asset of the IVA. It will be paid to the insolvency firm who will decide whether it is economical to open the files and distribute this to creditors. If they decide it is uneconomical they will return the money to you.
3 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: Ryan and 37 guests