Bank charge and IVA

Sparx71

I applied for bank charge reclaim, but since then have entered an IVA which covers the said account. If the claim is successful, what will happen to the award? The overdraft covered by the IVA was approx £1000, the charge claim was for approx £2300

happychappy74

The specifics of my IVA were that any amount over £500.00 would be taken.

I claimed for Credit Cards and for banks along the way, but all of my amounts were either passed directly to me, or passed via Payplan, as the amounts were under the £500.00 threshold. I was also aware that Payplan were informed of some of the payments made to me even though there was no breach of the agreement.

I was not sure of the details at the time, but I contacted Payplan who confirmed the £500.00 threshold, so I think it depends on the specifics of your IVA agreement.

Have a good look through your paperwork, otherwise contact your company.

Hope it all woks out for you.