Due a refund?

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Sarah13

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Post by Sarah13 » Sat Feb 02, 2019 7:01 am
Hi, I previously had an IVA which was completed in 2013, all payments made on time. This has long since been off my record and I have no problem getting credit now.

My question is this. Earlier this week I received a letter from a company called Arrow stating I was due a refund of over £4000. This was NOT PPI. They advised an old account I had was in credit and had accrued interest which was due to me.

I called the company and they told me this related to an old MBNA Mastercard I had which had been part of my IVA. They explained my IVA company had last made a payment to them in 2014, but that the account had previously been frozen and no interest applied, so the payments they received on the IVA eventually took it into credit of £2600, interest was added, and a deduction made by HMRC, leaving £4200 due back to me.

I have tried to call my old IVA company to find out if I am entitled to this refund, but am no longer able to contact them. Their number now goes through to a different company which plays music indefinitely (on hold more than 20 minutes on several occasions without getting to speak to a human being). I have tried leaving a message on their service out of hours, but they ask for a reference to be quoted and the only one I have is from my original IVA company (which as I stated was settled 6 years ago). Anyway, no one from this company has come back to me.

Could you advise on me how to proceed? Am I entitled to the money (which is on its way to me by cheque, I am told). Any advice would be appreciated.

Thank you.

Foggy

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Post by Foggy » Sat Feb 02, 2019 10:22 am
This is a new one on me and I would tread carefully. I cannot see the logic of a debt being written off and the creditor ending up owing YOU money !!

Who was your IVA provider and who are the ones you have been trying to contact ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

MerlinL14

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Post by MerlinL14 » Sat Feb 02, 2019 1:51 pm
That is a lot of accrued interest in just 4 years! £1400 not including HMRC's cut, I would tread carefully and not get 'stung' into giving out your current bank details in the hope that this is indeed real. If it is legit than I really hope you get to keep it and it isn't snaffled by your ex-IVA company.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues

Sarah13

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Joined: Sat Feb 02, 2019 5:46 am

Post by Sarah13 » Sun Feb 03, 2019 5:36 am
Foggy wrote:
This is a new one on me and I would tread carefully. I cannot see the logic of a debt being written off and the creditor ending up owing YOU money !!

Who was your IVA provider and who are the ones you have been trying to contact ?
The original IVA provider was Wilson-something. Then it was changed to Grant Thornton. The telephone numbers for Grant Thornton now go through to Aspire.

Sarah13

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Joined: Sat Feb 02, 2019 5:46 am

Post by Sarah13 » Sun Feb 03, 2019 5:37 am
Foggy wrote:
This is a new one on me and I would tread carefully. I cannot see the logic of a debt being written off and the creditor ending up owing YOU money !!

Who was your IVA provider and who are the ones you have been trying to contact ?
Sorry, it was Aperture, not Aspire.

Sarah13

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Joined: Sat Feb 02, 2019 5:46 am

Post by Sarah13 » Sun Feb 03, 2019 5:43 am
MerlinL14 wrote:
That is a lot of accrued interest in just 4 years! £1400 not including HMRC's cut, I would tread carefully and not get 'stung' into giving out your current bank details in the hope that this is indeed real. If it is legit than I really hope you get to keep it and it isn't snaffled by your ex-IVA company.
They didn't say it was 4 years, only that the last payment they got was in 2014. The sum was £4200 and was only partly interest, £2689 is listed as "overpayments." They said they are sending a cheque though, I'd never give out bank details. It sounded fishy to me when I got the letter, like one of these PPI companies, but when I rang them they told me it was to do with the MBNA card I used to have and that they'd had payments from Grant Thornton. If and when a cheque arrives I'll believe it.

My problem is trying to find out if I'm actually entitled to it. I can't contact my IVA company or the company who are now answering Grant Thornton's phone number.

Foggy

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Post by Foggy » Sun Feb 03, 2019 9:54 am
Aperture are basically Grant Thornton rebadged in a marketing exercise. I would, if you want to risk poking a sleeping bear with a sharp stick, write to Aperture, by recorded delivery, stating that you consider this refund to be regarding matters post IVA and stating the time is of the essence, giving them, say, 21 days to respond, with their reasoning, if they disagree. If you do not hear from them during this time you will assume that they agree the funds are yours.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

MerlinL14

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Post by MerlinL14 » Sun Feb 03, 2019 6:37 pm
It sounds a lot more believable now you have added more information Sarah, thanks. I think you are between a rock and a hard place to be honest, do you; contact Aperture and tell them of your good fortune? or say nothing, cash the cheque have a good time with your windfall and hope that it never gets reported to Aperture for them to take any action to recover it? Squirrel it away and don't touch it for a long time and then feel safe that Aperture have no knowledge of it???? Good luck in whatever path you take. Fingers crossed.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
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