Bank Charges and claiming at the end of IVA?

I am currently in the final 10 months of my IVA. When I get to the end of it, can I try and claim back charges for the 1 year previous to going into my IVA even though it would be mostly against Lloyds who were my major creditor?
I know that most of my charges came in the year just before I went into my IVA, would they be able to take the charges back in lieu of what they didn't get back during my IVA. They will have had a lot more back than whay my original IVA detailed. If I remember rightly I was due to give back 42p in the pound and I worked out I will have actually done around 85p in the pound due to extra payments I have made.

Is it worth me starting a claim?
:jDebt Free after 5 years.:j Now Time to start saving for my move to Canada :D


  • leanne2402
    I'm not sure on this, as you no longer have accounts with these banks anymore.

    On another note, and someone who has been in her IVA for 8 months now, how have you found yours? Any problems and have you had to do the equity release? If so, how has this worked for you? Sorry to ask, but thought it would be useful to know.

  • Not_so_wise_one
    I've found mine manageable. I had run up around 47K of debt and finally had a lightbulb moment. I spoke to the CCCS and CAB and someone else. Both of those actually advised my to go B/R as I had no assets at all. In hindsight I sometimes wish I had done so, but I felt morally obliged to pay back as much as I could so went for an IVA

    I'm with Payplan who I must say have been very good through out. I pay my excess payments to them once a year, rather than as and when get them. For the first time late last year I had somehow miscalculated around £200 excess and when they wrote to me to let me know, I rang them up and explained I didn't have it. No problem, I could make top ups over the remaining months. The lady said it was fine and not to worry about it due to the amount I have actually paid back compared to the initial projected return (85p ish vs 42p in the pound).

    It has changed my attitude towards money completely and I hope never to get in that much debt or anywhere near it ever again (except for a house one day), and the bonus is that I know know I can live in relative comfort with £500 taken from my wages each month so will be just saving that instead of leaving it in my bank when I finish.

    I didn't have to refinance even though I inherited half a house when my father died two years ago, this may be because of either the higher return they have had and / or the clause in the will which states that I don't actually own the house in any way until my mother passes away.

    At the end of this, I calculate I will have paid back around £41000 (inc fees) since I started.

    Any other questions, let me know, happy to talk about it.
    :jDebt Free after 5 years.:j Now Time to start saving for my move to Canada :D
  • leanne2402
    Thankyou for replying. I have so many questions. Went into the IVA with eyes wide open, but evry now and again i keep thinking did i really understand what let self in for. My IP is really helpful, but can't can't always get the answer i need.

    Thats what my plan was at the end, as been paying that money out, can afford it, so will pay it into savings when i finish.

    How did your re assesments go each year? And did you have to prove anything through out your year, or just once a year (as that is how mine works). And how did you work your overtime, and was this at any point included in your 'basic' salary?

    Just worried, as i do alot of overtime at mo, so am putting away the 50% with the aim of paying it all in one lump sum (gonna get them to check i have the right amount incase i've mis calulated). But this will change soon, and panicing that next assesment they will go you have got all this extra money, so gonna ut your payments up.

    Thanks again.
  • Not_so_wise_one
    I work in a sales environment and get any comission paid to me quarterly. Whenever I get any I put 55% of it into savings account. Around every four months Payplan send me a letter requesting copies of the last 3-4 payslips, then they send me details of how much I owe for that quarter. I came to an agreement (it may be normal) that I will just make one payment on /around my anniversary instead of smaller one's throughout the year.

    My payments haven't gone up a huge amount really I guess it's down to the fact that they really have made a killing when I have had good times in sales (probably about to end now though!) as they have had extra lump sums running into several thousand pounds some years.

    Just make sure you carry on putting aside the 50% everytime you get the overtime and you should be fine, but contact your IP to make sure.
    :jDebt Free after 5 years.:j Now Time to start saving for my move to Canada :D
  • leanne2402
    Ok. Mine aren't asking for wage slips or anything so i think i'll give them a call to find out how they are gonna check on my overtime etc (and need to chase the student loan thing anyway).

    I'm very similar. I work overtime in my job, totaling alot, pretty much every month at the mo. But from april things will be changing, so not so much extra cash will be coming in.

    But all in all, you have found it to be ok? Have you got any savings to speak of, or have you had to hand those over to?
  • Not_so_wise_one
    I have actually found the process itself very easy and straightfoward. Payplan have always been available to answer any questions I had when I needed them.

    I didn't have any when I started and I don't have any savings at the moment as I have been using them up to go over to Canada to see family, but I have had enough saved (from commission) to go six times now in the last 3 years. I need to start saving again as soon as I can.
    :jDebt Free after 5 years.:j Now Time to start saving for my move to Canada :D
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