Urgent Iva Help Needed Please

jo1967

Not sure if this is in the right place but my sister & brother in law really need some help.

They applied for & had accepted a final IVA at the end of March 06. They have now been sorting their lives & debt out but it is a hard slog & they often struggle.

The child tax credit had overpaid paid them a couple of years ago & therefore they had not received any CTC for the past two years. For some reason this debt was not thought about and not included in the final IVA, they just accepted they were not getting any. However, after contacting the CTC at the beginning of the month they agreed that as 25% of the debt had been cleared that was satisfactory.

BIL has been away for a week & when he got back there was a letter from CTC stating £1600 had been paid on 9 Jan and a further £61 will be paid on a weekly basis.

Good news? You would think - but the CTC have paid £1720 into their old Natwest bank account - the debt on this account was included in the Final IVA. It seems that sis did not close this account but assumed it would be closed because of the IVA - after all why would Natwest want them as customers? BIL has called 24 hour Natwest banking who say the account is active & confim the money is there but will not give them any other info. All they said was "i see you are sorting out an IVA" BIL had to inform them it had been accpted & completed nearly a year ago. They now will not discuss it with him but say their IVA people need to deal with it.

They could so do with this money & are quite upset (they owe my parents money & it is their dearest wish & goal this year to pay them back, this would do it). They think the Natwest are going to keep it.

Do any of you out there have advice or experience of a similar situation? Any advice / info is greatly appreciated.

Jo

james32_uk

They should speak to their IP. This breaks the terms and conditions of the IVA and I would have thought that with a bit of arguing they could get this money back.

jo1967

Thanks for your quick reply - they will be getting in touch with their IVA people.

CLAPTON

does their IVA have a 'windfall clause'?

james32_uk

True, they need to find out if it counts as a windfall. It's a grey area as it's not a windfall as such as it's money they should have been accumulating during the last X months.

jo1967

Thanks Clapton, I will get them to double check but the IVA people said if they won the lottery the day after the final iva was completed the creditors could not claim it. Hopefully this will be to their benefit.