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IVA and reclaiming bank charges help
Hi Everyone,
My friend has an IVA which runs until next March and began in March 2012. He reclaimed bank charges for a packaged account as he was given a packaged account when he was looking for a new account to host his IVA and to take back control of his finances.
At the time he was told that non fee paying accounts were "for people with a salary" (he got himself into a bit of a downward spiral following a bereavement and some terrible consolidation loans arranged by his bank and wasn't working as a result)
The complaints handler found in his favour and sent all of the fees and interest to Aperture. We were surprised that the bank had sent almost £1300 as we had worked it out at around £600.
The complaints handler had incorrectly taken the bank charges back to 2009 ( he opened the account in late 2011) and had calculated the bank fees from 2009 and added interest.
We contacted the bank who agreed that they had made an error, but were not going to pursue the issue and the payment to Aperture would stand.
We contacted Aperture who say that they are treating the payment as they would PPI or a windfall. As it is neither of these I wondered what the correct procedure would be?
We have asked for this decision in writing and the logic behind it and are waiting for this to arrive, but don't know what to do next. We totally agree that some of this belongs to the creditors, but Aperture have not been very supportive when he lost his ESA benefit as he has a small private pension so his income dropped dramatically and he has struggled to meet the payments since January.
Any assistance is appreciated.
My friend has an IVA which runs until next March and began in March 2012. He reclaimed bank charges for a packaged account as he was given a packaged account when he was looking for a new account to host his IVA and to take back control of his finances.
At the time he was told that non fee paying accounts were "for people with a salary" (he got himself into a bit of a downward spiral following a bereavement and some terrible consolidation loans arranged by his bank and wasn't working as a result)
The complaints handler found in his favour and sent all of the fees and interest to Aperture. We were surprised that the bank had sent almost £1300 as we had worked it out at around £600.
The complaints handler had incorrectly taken the bank charges back to 2009 ( he opened the account in late 2011) and had calculated the bank fees from 2009 and added interest.
We contacted the bank who agreed that they had made an error, but were not going to pursue the issue and the payment to Aperture would stand.
We contacted Aperture who say that they are treating the payment as they would PPI or a windfall. As it is neither of these I wondered what the correct procedure would be?
We have asked for this decision in writing and the logic behind it and are waiting for this to arrive, but don't know what to do next. We totally agree that some of this belongs to the creditors, but Aperture have not been very supportive when he lost his ESA benefit as he has a small private pension so his income dropped dramatically and he has struggled to meet the payments since January.
Any assistance is appreciated.
0
Comments
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It is an asset of the IVA estate, and the correct procedure has been followed I'm afraid. It isn't PPI but is similar.
Well done to him for getting this far though.0
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