Claiming back failed IVA payments

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Hi, am unable to find a similar thread so starting my own!!

I failed an IVA around 2 years ago and am now dealing direct with my creditors through a DMP. I'd paid around 15 payments of approx £300 by the time of failure (due to redundancy), as far as I am aware no payments were made to my creditors but were all swallowed up by "admin" from the IVA provider.

As a company I found them useless and rude (once I had taken out the IVA!!) and would rather claim this money back from them and pay towards my debts, so my question....

I beleive that as I signed a direct debit guarantee I am entitled to an immediate refund of any direct debit payments made within a 7 year period. What will my IVA provider actually be entitled to ask me for (if anything) for their "service" during my IVA and what rights do they have to chase?

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  • FoggyBrain_2
    FoggyBrain_2 Posts: 1,121 Forumite
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    Hi. All depends on the arrangment you had with them and the wording of any paperwork signed. They are entitled to be paid for work done ( even if badly in your eyes), namely preparing the proposal, which three years ago, before creditors really clamped down on fees, would swallow about £2000 - £2500. Then, on top of that supervisory fees at whgatever rate you agreed at the time. I doubt you'd see any money returned voluntarily. If your complaint has sufficient weight you could try complaining to their regulatory body.
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