Hi, before we started our IVA in February this year i filled out an online enquiry in relation to miss calculated interest and payments on our mortgage when it was Nothern Rock. We have now heard back that there is strong evidence to suggest we have a claim. I realise any money we recieve will be classed as a windfall and go to our creditors which is fine as the more we can pay back the better. Does anybody know how common it is for these types of claims to fail as it states on the letter we could be liable for fees? I am wondering if it would be better to delay things and try again once our iva is over! Would the money still be payable into the iva even if northern rock isn't included in our iva? I am hoping if we leave it till we finish and we do end up with a fee we would be in a better position to pay it! Thank you.
The refund is likelly to fall within the same camp as PPI and will belong to the IVA trust even after the IVA has completed. Any fee due should come out of the refund itself, if the refund is routed via the claims company or you could, like PPI, lodge the claim yourself. If you use this claims company and the refund is paid direct to the IP ( as often happens) then you will owe the fees.
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