I completed an IVA in August 2008 using a full and final settlement and Barclays were one of my creditors included in the IVA.
I have recently used a claims company to claim back some bank charges and they won about £200 off Barclays. Rather than send me a cheque Barclays have just taken this money off the balance that they say still 'exists' even though they will not chase me for it. I think it's a bit of a con as I have settled the account and they have accepted that as part of the terms of the IVA.
Are they within their rights to do this as they know that I have no way to access the 'refund'??
Once your IVA is concluded and you have your certificate of completion, my understanding is your debt is then written off and no further contact can be made by the creditors to claim back any more of the amount owed. I would speak to your old IP for advice and then maybe speak direct to CAB - hope you get it sorted !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Though this sounds technically wrong, I personally would not and will not be bothering to attempt to claim anything back after my IVA completes.
Owed - 50K, Paying back 27K ish. Creditors written off 23K + 5 years interest.
Making a claim that results in a few hundred pounds when I will be £650 a month better off after the IVA completes seems a waste of time and effort.
Sorry, just my view but when the IVA completes and I have the certificate then I consider the line has been drawn on the whole matter.
Last Payment - November 2011 - Completion Certificate received 2 weeks after last payment, Removed from Insolvency Register within 4 weeks after last payment.
I know what you are saying but why continue to be penalised having paid your debt and started a fresh - why let it hang over you ! It may only be £200 but in my eyes that is £200 of my money that I could spend on things I have not had over the period of my IVA ! I personally would push this to the max, but agree it is not worth costing you money to take it to court ! It's the principle !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
I agree with Herbekj and PD. I'd rather make a fresh start with my debts behind me than be worrying about money that, if I'd had it pre-IVA, would have probably had to go to creditors anyway.
I won't chnage my view on this, however can see your point of views - would you still be the same though if it was £2000 rather than £200 - I doubt it very much !
That's why I love this forum - everyone's view is listened to, and no-one is right or wrong on things like this !
Jevs I hope you get it sorted !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Sorry but £200 or £2000 would make no difference to me, I have had £23K written off plus interest over 5 years that must be worth at least another £10K - £15K.
There is no amount of money that I could claim back that would make a dent in what the creditors have written off for me.
Last edited by herbekj on Tue Aug 17, 2010 10:19 pm, edited 1 time in total.
Last Payment - November 2011 - Completion Certificate received 2 weeks after last payment, Removed from Insolvency Register within 4 weeks after last payment.
I certainly won't be claiming anything back, I'll want to put it behind me, and I wouldn't want to pay a company to do it for me anyway.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
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