Around 18 months ago, I entered an IVA due to mounting credit card and loan debt. I was missing payments, incurring charges and interest etc I have recently been contacted by Halifax and Lloyds who have a company currently checking how they’ve dealt with accounts in the past and they’ve decided to reduce my Halifax credit card balance and Lloyd’s Credit Card balance as “even though the charges and interest was correct, they don’t feel the interest and charges applied to the account at the time was the most helpful thing to do in my circumstance”. Those weren’t the exact words but it was along those lines. I have made a complaint which has been escalated as I’ve stated that it was these charges and interest that ultimately lead me to an IVA. They have in total reduced the balances by around £4K in total which would have been quite a lot towards the minimum payments. They have written to my IVA practitioner to notify them of a balance reduction.
My question is, am I due compensation?