Bank Transfer

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Coline81
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by Coline81 » Wed Nov 29, 2017 5:45 pm
Nothing ever goes straightforward for me these days....so I had my creditors meeting on the 20th nov and IVA was approved. Despite telling my mother twice my new bank details she today sent me £30 birthday money to my bank account that had an overdraft and was included in the IVA.

Will that bank account be closed and the £30 be returned to her? If it has managed to go through will I be able to phone up and get it back?
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Foggy
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by Foggy » Wed Nov 29, 2017 6:00 pm
Different banks handle these things differently and you can only ask -- me feeling is that they will simply use it to reduce the overdraft.
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MerlinL14
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by MerlinL14 » Wed Nov 29, 2017 6:20 pm
Surely if the OD is included in the IVA it would be illegal to use it to offset there own debt without offering it to the IP to offset the contributions as a whole? I know it is £30 but £30 that isn't theirs to do as they wish with. I would get your Mother to ask her Bank as to what action to retrieve the money she can do.
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Foggy
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by Foggy » Wed Nov 29, 2017 6:51 pm
MerlinL14 wrote:
Surely if the OD is included in the IVA it would be illegal to use it to offset there own debt without offering it to the IP to offset the contributions as a whole? I know it is £30 but £30 that isn't theirs to do as they wish with. I would get your Mother to ask her Bank as to what action to retrieve the money she can do.


Technically it would be against the spirit of the agreement -- but it has been done before and, as far as I am aware, not retrieved. As ever the IP is willing to rain burning bolts of wrath down upon the debtor if we waiver in our adherence to the arrangement but creditors are rarely the target of such an action. This is one of the reasons why we are advised to change accounts if the bank is a creditor.
Coline81
Posts: 20
by Coline81 » Wed Nov 29, 2017 8:44 pm
She’s going to phone her bank tomorrow so fingers crossed I’ll keep you posted what happens xx
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