Claiming in a DMP/IVA (merged)

desperatedad

Sorry, I should also point out I do not know the totals in charges from my creditors and most of them are online companies that since I stopped paying them directly by direct debit have stopped my access to my online accounts.

Its also not worth me callin gthem, you would not believe the hassle and grief they would give me. It would just end up being a one way conversation with them berrating and threatening me and generally asking for more money.

DD

sandralovescats

When in an IVA your reclaimed bank charges would not come back to you directly, they would go into the IVA, unfortunately.

It would come under the "windfall" clause and would be taken as income.

Sorry!

In a DMP the money would come directly back to you. However, if it is a self-administered DMP you might upset your creditor by doing this, as already suggested.

sandralovescats

johnalexwood wrote:

For those people who have an IVA - I'm in 2 minds about this one. Would appreciate your input here. On the one hand, by agreeing to the IVA, the bank has agreed to write off a large percentage of the amount owed to them by the client. But many £thousands of that amount owed could have simply been accumulated penalty charges. So you might feel that someone with an IVA taking their bank to court over penalty charges is a bit rich. On the other hand, the amount owed would have been a lot less if penalty charges had not been deducted from their accounts in the first place. What with the interest charges on top, this additional amount could bring about the need for the IVA itself by pushing clients into an unmamageable situation. What do you think - shall we put it to the vote?

When in an IVA your reclaimed bank charges would not come back to you directly, they would go into the IVA, unfortunately.

It would come under the "windfall" clause and would be taken as income.

You would be wasting your time, energy and money taking them to court in the first place.

Sorry!

dette_2

I hope you are luckier than me. I have sent 5 letters to Nationwide regarding £4000 of "late Payment Fees" they have charged me over the past 4 years. And that is while I am, and have been on a DMP with Payplan. I have also had no notification of the charges and only found out about them when I requested a statement, after having no corresepondence from them for 4 years. To date I have had no replies whatsoever!

jimbobyorks

Have fallen into debt which has resulted on me defaulting on cards and loans etc which I am now paying off through payplan in monthly installments which I can afford. Obviously I will have been charged numerous times bank charges etc by these for late/non payments and also overdraft charges. Even though I am paying them back through payplan do I have a case to get the charges knocked off what I owe.

Many thanks in advance for any stories or info that can answer my question and a belated happy new year to everyone.

Cheers

Paulxo

Don't see why not.

If you do get the charges back it might reduce what you owe, but if not, at least you'll have that money to pay it back!

Good luck.

jimbobyorks

had experiance of doing this and winning something back though?

Cheers

Paulxo

So why not be the first?

It seems to me that maybe most people who've got to this stage haven't got your savvy and thought of this.

Perhaps you should discuss it with the PayPlan people.

gmcintyre1975

I have to say Becca i am fairly certain you will find the bank will credit your overdrawn account as is their right. I am in a similar situation myself and expect the same to happen.

aaronsmoney

Hi folks

I know there is a thread about IVAs and DMPs but cant seem to find my answer.

Basicly i have now completed a scottish trust deed. (this is an basicly an IVA in scotland).

I am now interested in claiming my bank charges back but im a bit worried as obviously some of my debt with the bank was written off.
Whatever i decide to do obviously cannot effect the trust deed as its finished so im not worried about that. Im more worried about the fact the bank may actually take me to court as in the end the debt that was written off may be more than the charges if you get what i mean.

What do you guys think? Should i go ahead with it? Whats the worst that could happen? Has anyone done this after their IVA was finished?