Can I keep reclaimed bank charges when in an IVA?

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guy775
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by guy775 » Fri Aug 31, 2018 5:22 pm
I have been offered money back from a previous bank account lasting 10 years when I was paying £12 a month as a fee. A third party has suggested reclaiming these funds for me. I am in an IVA and am wondering what the situation is with regard to keeping some of these funds. Can you advise me?
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Foggy
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by Foggy » Fri Aug 31, 2018 5:26 pm
These would be teated in the same way as PPI and payable to your creditors through the IVA.
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MerlinL14
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by MerlinL14 » Fri Aug 31, 2018 5:28 pm
Careful if this is a claims company, as your IP would want all the refund, leaving you to pick up the commission costs of the claims company.
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kallis3
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by kallis3 » Fri Aug 31, 2018 5:32 pm
I agree - you may well end up out of pocket. Let your IP company sort it.
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guy775
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by guy775 » Sat Sep 01, 2018 5:58 am
I am receiving some money back through bank charges that were mis-sold over a 10 year period. Would this money have to go into my Iva the way ppi has to?
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kallis3
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by kallis3 » Sat Sep 01, 2018 8:28 am
Yes it will.
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Foggy
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by Foggy » Sat Sep 01, 2018 8:32 am
Identical topics merged
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