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Claiming in a DMP/IVA (merged)
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Hmmmmmm, suggesting I won my charges back, would my IVA people see this as an income?
And the bank in question are part of my IVA.
Tricky ground, perhaps...?!0 -
Have a read of the above posts, you'll probably find that the bank will offset any monies reclaimed against any debt held by the bank.0
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In principle the bank is not entitled to offset charges against an IVA if it is formally agreed as the basis is those who are part of that are entitled to the share as agreed AND NO MORE. However, if the changes are below the agreed IVA amount due to the bank then they will probably take it as an offset and say they are just taking their share early. If they do and it causes you a problem I would argue hard and loud. Also make sure the other creditors are aware and know who to shout at as a rersult. I have heard of such a situation where the other creditors ganged up to get their fair share and the other party had to back down. In that case it wasnt a bank but there is no reason why it cant be. They are not GOD.0
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Can anyone give me some advice? - I am on a DMP with CCCS and "owe"
American express card services around £1200. My DMP offered them £5 a month which they refused. They very aggressively pursued me with there own debt collection agency RMA Resolve and Brachers solicitors. They successfully
got a judgement against me - are still refusing the £5 a month unless they can secure it on my home. In the meantime (having successfully got back £7000 from NW and £500 from Lloyds - thanks to this site!) I have decided to pursue them for £820.97 (charges and interest). They responded to this by offering to reduce the amount outstanding by 354.24 on condition I repaid the remaining amount (around £800) in 20 days! Highly unlikely when on a DMP. I wrote back to them saying I was not able to accept this offer and would be taking them to court. Bracers solicitors then replied to me yesterday "there is no basis for you to make a claim at the present time as there is a greater amount due owing to our client which exceeds the amount of the claim that you intend to make. Any claim will therefore be vigorously defended and our client will seek costs against you”
Does anyone have any suggestions or been in a similar scenario?0 -
I have had dealings with Brachers with an old debt and they are b*****ds. They are bullys! They put a charge on our property and we asked them if we tried to sell would they accept a reduced settlement to which they told us we had 30 days (get real). So I am afraid I cannot answer your question, however I do not see that they can stop you making a claim even if you do owe them money - otherwise none of us would be getting anything back as a lot of people are using the money to reduce one debt or another. Good luck!0
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Hi
Am new to this site - excellent with loads of information, but can't find the information i need!
I have about £14000 of debt and am (very slowly) repaying it with a debt management plan with Payplan. A lot of this debt, though I'm not sure how much yet, is made up of bank and credit card charges so I would like to start the ball rolling on reclaiming them, but am a little worried that this would affect my DMP.
Is it likely that any of the banks I have the DMP in place with, can decide to demand my debt back straight away if i start asking them to repay any charges?
any advice would be much appreciated.
Thanks0 -
Hi
Am new to the site and may have already posted this thread but can't find it! Apologies if you are reading this again...
I have some £14000 debt with various creditors, some of which are banks and credit card companies. Some of this debt is made up of charges and I would like to set the ball rolling on reclaiming them. I have a debt management plan in place with Payplan and am worried that if i ask for bank charges to be repaid, the banks will stop the plan and demand the money back asap. Is it likely that they will do this or should i start reclaiming my charges back?
many thanks0 -
Hello Ukroseblue, welcome to the site.
I had the same question as you , although Im not with Payplan I am on a DMP and was worried with reclaiming.The bank (woolwich) refunded the money into the account to offset some of the debt and now we are working on the credit cards one by one.
If you enter "claiming charges back while on a DMP" in the search box at the top right of the page and check the forum box you will get lots of previous posts to your question , I would give you a direct link but I never seem to get it right.
cheersMember of change Pip's name back to PIP club
:jI've only blooming got my name on it :j0 -
i claimed back my charges and there was enough
to pay of my natwest loan and overdraft as well as my first direct overdraft. i still got bout £700 as well for my self (booked a holiday and enjoyed it!)
though at the moment banks are awaiting the oft decision so youmay get a letter saying they will put any investigation on hold. on the home page of the site is martins' instructions regarding this
Good Luck if you go for it!'Children are not things to be moulded, but are people to be unfolded'0 -
Unlikely that they will demand your debt back straight away but any monies you might reclaim will be put towards any debt. Have a read of previous posts regarding how others have got on.0
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