Payday loan refund

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Post by jonathan802 » Fri Feb 28, 2020 6:59 am
I am in an IVA. This IVA was started in December 2019. I recently was informed that an ongoing saga with a payday loan refund had come to an end and was made an offer of which I accepted. They said that the refund would take 28 days.

They asked for my bank detail etc. The payday loan company settling the claim I do not owe money too, are not part of the IVA.

Will they pay my refund to me into my bank? As surely they are unaware of my IVA status? As I am concerned because way back when I started this claim I used a company to try to claim a settlement who in turn will require a %. Please help.


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Post by Foggy » Fri Feb 28, 2020 9:10 am
If the claims company started the claim the lender should pay the refund to them ... they will then take their cut and send the rest on to you, which will probably be due to the IVA.

They may send it direct to the IP ( many lenders will do an insolvency check to see if the money should go elsewhere), in which case the IP might settle the claims company bill, some do, some don't.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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