Claiming in a DMP/IVA (merged)

milodog

Can anyone help on the following. To cut a long story short, I am entered into an IVA (Individual voluntary arrangement) and am in year 2 of 5. Naturally I had loads of credit cards and a bank account and have gone through the motions of attempting to claim back the charges. I am now starting to receive letters back, one of them from Capital One has offered me 319.00 from 750.00 claimed but they say they can only credit this amount back on my card which hasnt been in use since my IVA was agreed in September 2005. Because I have balances outstanding on all of the credit cards they are saying they wont send me the refund any other way, they will just take it off of the balance even though I am paying them back through the IVA over a 60 month period. I feel I am going to get the same problem when all of the other companies start responding and dont know what to do now. Can anyone advise!! Very much appreciated.

dips47

hi to all

i would love to find out like all the others if you can claim charges while on DMP if banks would back fire.
Currently i have debt with Barclays owing £1750 ,account is closed over six months now and on DMP with PayPlan.
Informed PayPlan of my intention and they said if i put my claim in this would not affect my DMP,but to let PayPlan know of the outcome which would mean to pay off Barclay in my DMP.
I have already sent off for my six year statements so that i can work out charges .
I am sure this may apply to anybody on DMP but do check with you DMP company.
I hope this is sounding positive for which i am going to put the claim for the unlawfull charges.

any thoughts!!!!!!thanks

golfmid

Hi,
Can i just ask, I am in the middle of trying to claim bank charges and I am also in the process of setting up IVA's with all my creditors (the bank being one of them), If I am successful getting my charges back and I have set up an IVA with the bank will they use the money to offset my debt or will i get a cheque?

Thanks
Golfmid

Edinburghlass_2

They will put any monies reclaimed towards any debt held by the bank.

golfmid

I guessed as much! the bank have threatened to pass the overdraft balance to a debt collector. What happened was over the last year our joint income has dropped and we went over our limit quite a few times and when it come for the annual renewal of the overdraft, they said theywere not renewing it. Now they are saying if we cant pay it back over 6 months then theywill pass the debt on.
Obviously we are annoyed an kind of wanted the charges back for us and let the bank get their share along with all the other creditors

yil5823

I have been writing to obtain bank charges tobe refunded. I have actually done quite well. Over £1000 to date. However a couple of them have off set against a debt as I entered into an IVA. Why do some gladly refund monies and some not. Surely these two things are separate can they do this!! I had written again stating that I would only settle if cheque paid in my favour so lets see what happens. If anymore needs any help in getting monies back let me know and I will let you know how I did it. ****It really does work****

oldwiring

There are provisions in most IVAs to cover what may be termed windfalls. That is most likely why the bank has done wjay it has. See this.

aussiesbird

I had a loan and a bank account with first direct which was combined when I got into financial difficulties some time ago. I eventually got advice from the CCCS and they have sorted out a payment plan (along with other debts) which has been in place now for several years. My partner is now pressing me to try to reclaim any charges to reduce the amount owed. However, I am unsure if it is worth it and how I would go about finding how much charges they put on in the first place as the CCCS dealt with all the paperwork. Is it possible to write to First Direct and ask for the charges info and what charges am I claiming for? Any advice appreciated.

mo1_2

im no expert,but i would think if you got charged from your bank then you can reclaim them,send them a S A R and see how many charges they have applied./good luck

aussiesbird

What's an S A R ?
Sorry not quite up on the acronyms yet!!