IVA's/Debt Management 'Windfall Clause' Petition

chicqa

Hi All,
Happy New Year to you all!!!
As a new year's resolution, I intend to be debt free as quickly as possible!!
Not sure if this is the right forum for me to be in, but I'm am sure it will be moved to the right place if not.
I would like to let you know that I have started a petition on the Downing st website which I would like as many people as possible to sign.

I have started this petition because I would like to urge the Prime Minister to re-think the 'Windfall Clause' in the IVA/ DM programmes. At the moment, I feel it is highly unfair that where we the consumer, are owed money, we are then forced to give it back to the Bank/ loan companies as part of the debt. I am currently claiming back money and I do not think that PPI's & bank charge claims should not be included as part of the debt. If the companies have made a mistake and they offer you the money, these amounts should be paid back to the consumer directly as requested and not offset against the debt, the debt should be reduced by whatever is offered to the consumer, therefore making the balance to pay much fairer. Banks and other such establishments are quick to take you to court, threaten to take your property and keep fining you whilst the Fat Cats at the top are spending our money on extravagant, lavish lifestyles!!
I want what is owed to me and having read similar threads of people in the same situation, I urge you to sign this petition to make Mr. Brown re-think this 'Windfall Clause'. This could be beneficial to all of us to be debt free sooner.
Please follow the link below to take you to the petition and please encourage others, even if they are in the same position or not:-

Petition to: allow PPI/ Bank charge claims not to be classed as a 'Windfall' in an IVA or Debt Management programme. | Number10.gov.uk

Thank you

Kind Regards

Chicqa

CocoLoco_3

chicqa wrote: »

I want what is owed to me

I expect your creditors feel the same way

chicqa

Hi There,
I'm sorry, but is that a dig?
You know what, I chose to deal with the money I owe and have never disputed it. But when companies have made a mistake or taken advantage of a situation, such as misselling, I will claim back what should never have been sold to me in the first place.
From what you wrote, it sounds like you are trying to say I am trying to get out of what I owe?
I am trying to help other people as well who have also expressed the same issue.

CocoLoco_3

I agree, if you have been missold a policy you should get a refund. However, regardless of where the money came from, should you not put that towards clearing your debts?

chicqa

This is where you and I differ, I think it is wrong to pay back the money to the establishment who mis-sold, it should be made clear to them this is not acceptable and then reduce the debt according to what they pay back to the consumer. So you think with everyone who is owed money, the amount should be offset against a debt?
I'm sorry, but I disagree, somewhere along the line these companies have to be shown that this is not going to be tolerated. There is a lot more that they get away with than I am sure we know, and if it wasn't for people like Martin and others like him we would never fight for what we are entitled to. I know I owe money, but you know what?... I too am owed money and there is NO way it is going to be given to me only for me to then hand it straight back to them!!
What message does that send to the companies?... I am sure they laugh at us?
Maybe you can tell me?..

fnc6810

Lets see how it did work
You are £1.00 short in your bank account to pay a direct debit.
So the banks bounce this transaction and of course charge you £34.00 for being £1.00 short.
This then makes you overdrawn with your friendly smiley Bank and its only fair you should pay another £25.00 for this privilage you naughty naughty customer. This then takes time to draft a letter and send it to you via carrier pigeon or strapped to the belly of a hedgehog, Meanwhile you carry on with life unaware that these couriers have no real sense of direction and cannot read the address where you live. So they have to take these letters to the Royal Mail (Just as bad) so they can deliver them.
Meanwhile so much time has passed that your incurred charges have also made you slightley short in funds for your next Direct Debit. So they can then bounce that, but being overdrawn already you will only get charged £34.00 for the D/D. Because the Banks feel it would be unfair to charge another £25.00 when you are already overdrawn also they don't think they would get away with it.
Ah lets see £93.00 in charges for being £1.00 short and i bet the companys whose direct debits they bounced also charged.
So before you know it you're in DEBT which is why we are all here
Can you claim it back? Probably
Should you pay it into your arrangement I THink NOT.
it would be pointless claiming it back in the first place. Just remember these financial companies did not put you where you are today, BUT THEY DIDN'T HELP YOUR SITUATION EITHER...........