Claiming in a DMP/IVA (merged)

Kate1234

Hi all,

New to the site, just after a bit of advice. I have allready written to my banks and credit cards asking for statements and have had some replies. I'm a bit worried about reclaiming though as I am in a repayment plan with Payplan to get me out of the huge debt i'm in!!!!!
Is it advisable to ask for the return of these charges as I have heard stories of banks saying ok heres the money but we are closing your accounts!! Obviously the amount of charges I want to reclaim is nowhere near the amount I owe them in overdraft's and loans!!!!
Any advice would be great.
Thanks
Kate

hughie278

Thats what i thought, but they closed the accounts when i passed them to a debt company anyway.
When you set the debt programme up, the creditors can vote to make you bankrupt, but they realise this way they get money back from you, so there is nothing they can do to you for trying to reclaim charges.

I hear credit card companys send cheques, but ill have to declare them to my IVA people if i get a refund.

hitback

Hi
We are currently on a DMP with CCCS, and after contacting them were advised we should claim charges back. We've informed NatWest to offset the amount owed in charges against the outstanding overdraft. So they may look more favourably upon this as it's in their interest to recoup the debt or at least shorten the term.

mortr

Hi I need help /advice on how to claim bank charges, I must be owed hundreds if not thousands, but I had to close these accounts down because I am in debt to them. The thing is I am woried that the banks will now go for legal action against me for what I owe them, I am under a debt management scheme and so far the banks have been understanding,so dont want to rock the boat. HELP!!

dani33

i currently have an overdraft with hsbc and they owe me over the years in bank charges. if i were to just open another account taking the overdraft with me( i am on the verge of a DMP) has anyone done anything similar?

jo_ray

it's really difficult to say. don't know what a dmp is. what i would do is open another account with a small overdraft, transferring all your account coming and goings to there.pay off ,the other one little by little,as nothing happening at the mo,because of the court case.hopefully they will settle in full after the test case leaving you with a tidy sum, after they deduct what you owe them.

hughie278

dani33 wrote: »

i currently have an overdraft with hsbc and they owe me over the years in bank charges. if i were to just open another account taking the overdraft with me( i am on the verge of a DMP) has anyone done anything similar?

If you change banks and take the overdraft with you then you will still owe your new bank the money, so why not just stay where you are and pay off a debt with the refund? Then you wont have to go in a DMP.

Angrybuilder

What with one thing and another I never got round to claiming Bank Charges before the OFT ruling so question one I suppose is ...is it still worth having a go given that I'm in an IVA with 3 yrs left to run?

2ndly - I am pursuing the 5 companies for CC charges - 4 Ccards and Cahoot personal flexible loan. I heard back from Capital One today - they have offered around a 3rd of the money I want to claim (incl. interest) but have stated they will refund this money to my account. Now as the account is closed due to the IVA I really don't benefit from this - the idea was to claim as much back as possible with a view to making a full and final settlement.

Has anyone in an IVA been down this route? Does anyone in an IVA have any advice for finishing early?

I am a 1st time poster here so be kind if this is already out there - trying to work out how the forums work!

Many thanks

AB

hughie278

Hi Angrybuilder.

Ive got a few cc and a bank account in an IVA, and im starting to claim on them all now.
I was told by my IVA people that the debt will almost certainly be going straight off what i owe each company, and they wont send a cheque.

This is all good of course, but you say about wanting to make a full and final settlement. I think i would be able to do this also with all the claims returned, but it cant happen that way sadly.

It should reduce your payments though, especially as you have 3 years left.

There is another thread all about IVA and DMP that are altogether. If you cant find it, just wait and this post will be moved there when a mod sees it.

edit: read the Capital One thread, as you will find out that pretty much everyone has got their entire claim back. Just take them to court and they pay up before it happens.

chezzboy

First of all I'd like to say hi, I've been reading these forums for some time now, and have been a subscriber of the excellent money tips for months, and I wish I could say I was glad to be making my first post!! Right, my story,

I know this is long, but I've tried to include every detail as to make it as clear as possible for you all,

I hope someone on here can offer me advice. Right, to the story.. I owe HSBC about 6k which I'm paying off on a DMP with a few other debtors and have been for the past 5 months.

I held my current account with HSBC at the time I got into the financial mess that is the reason for said DMP, so obviously I had some bank charges to reclaim from that account, which is currently 1.5k overdrawn, (the rest I owe HSBC is a loan and a credit card)..

My bank charges totalled 2370 so I sent the 14 day letter blah de blah and finally received an offer of 2014. Now concentrate here because this is where it gets tricky.

I decided that as I'm a bit strapped at the moment, and because I'm paying them back through the DMP (through CCCS) that I'd try and get the money back as a personal cheque. I rewrote the acceptance form they enclosed with the offer, saying basically I accept 2014 in the form of a personal cheque within 14 days, signed it, and sent it off.

About 3 weeks later an official looking HSBC letter came through the post, my cheque! No, it wasn't my cheque it was another acceptance form, the same one I received three weeks ago..

I decided to ring customer services and ask them what was going on, they said "oh sorry sir, your account has been closed, you'll have to go into your branch, where they will give you a cheque". I checked on the internet and yes, I couldn't log on, they had just closed it! I questioned CS thinking it sounds a bit far fetched for banks to give out cheques over the counter, when I got there sadly I was right.

The woman in the bank first claimed they don't deal with bank charges at all, then told me to sign the form and send it back. I said I'd already done that once and could she get hold of the relevant people because no-one will deal with me because my account has been closed, anyway she got really stroppy at this, dissapeared for 20 minutes, and came back saying loudly, "Yes I was right, you'll have to sign the form then we can send it back for you, but because you now owe Metropolitan Collection Services the money, it will just come off what you owe them."

I quickly deduced that this meant my debt had been passed on to Met. and hugely embarrassed at what she'd just done, I signed the form and left the branch red faced. But as I walked to my car I thought, "So I've just accepted 400 pounds less than what I'm owed, and I don't even get the money?" So I marched back into the bank, where the form was still on the side as she dealt with the next customer, and a picked it up and said I needed to think about it, she said fine, and I went home, I've still got the form at home now.

This was about a week ago, anyway I've just had a letter through from Metropolitan, asking for the full amount of 3834.44 that HSBC have passed on.

Does this mean that the 2k has been credited to Metropolitan, thats why its not closer to the 6 I already owe them?

Because I signed the form at all, is that the end of it, even though I still have the form at home?

Should I try sending it in again, with the "cheque" bit added?

If anyone can help, I'd be really grateful, and thanks for reading this rather long post...

Cheers, James