Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
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just came across this site through a link from another site. I'm currently nearly 3 years into an IVA with Payplan after having seriously mesed up with credit cards, store cards, loans, overdrafts etc. Having just been through ONE bank account for the last five years (and not even an account that I was in trouble with) I added up over £2000 of charges since 2002. I'm hoping that if I go through all the various cards and accounts I had I may have several thousand pound coming to me which may even be sufficient to end the IVA so I can get my life back on track etc, the missus keeps pestering about when we can get our own place etc.
So anyone got any experience with regard to IVAs, ending them, claiming on closed accounts, cards etc, feel free to through me a line. I dont mind of 20 people tell me the same thing cos I seriously think you people could save my life here. I really will appreciate any advice so if you wanna help, please do.
You can certainly reclaim the penalty charges while on an IVA.
To avoid any problems or conflicts of interest, I would advise that you start by getting the OK to proceed from Payplan, before you start.
They will probably tell you to carry on, but check first.
They may well require you to use the reclaimed charges to clear your debts. If so, well it's not a bad thing to be debt-free.
Spend a few days reading the FAQs and the step by step guide in the library section. Masses of information on this site. the more you learn, the easier your claims will be.
Good luck.
Regards, Rooster.
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That certainly is my plan. The way I see it, by the time all this got sorted and I have a wedge of cheques in my hand, I'd have 24 payments left to make which would total approximately £10,000. if I can get that amount out of the banks, store cards, credit cards etc, I can use it to buy my way out of the IVA. I have no intention of spending it on a new car and still getting an ear full from the missus about getting a mortgage etc, I want out of the IVA and I see this as a way of doing it.
Has anyone any experience of buying out of an IVA?
My one comcern is that I've heard that organisations like Payplan do not want to help you finish the IVA early because it will make them look bad and they won't get all their fees, so I'm concerned I won't get helpful advice from them, they've never been the most helpful bunch.
People, I'm a nice chap and appreciate Roosters reply, please do say hello even if just to say Good Luck.
Hello nice chap, good luck! Rooster's reply makes sense - I'm not that clued up on IVA's, but I'm sure there's a way around it all - there usually is! Keep us posted.
Hi - and good luck!!!! Keep us all posted and we'll help however we can.
jaxads
Halifax - £2281, successfully refunded all charges after LBA letter & telephone call.
Have been offered the difference between the £20 and £12 charges from Capital One -- am sending LBA for remainder.
GE Money - Received settlement of £441, being total charges requested. No interest though.
CCA'd Bank of Scotland / Blair Oliver Scott to produce CCA Agreements on two Credit Cards - well in default, although still chasing payment!!!
EOS Solutions "ceased action on account" on behalf of a friend.
All in all, quite busy at the moment and enjoying every minute of it
gonna gingerly take my first step. I've got a list of the 8 organisations who I have had dealings with in the last 6 years. I have copy and pasted the letter from the templates section (thank you Bankfodder) and I am going to print off a letter to each of the eight. I will then send these to each of the eight with a cheque for £10 (an initial outlay of £80 but a small price to pay if this works out) and I'll send them recorded delivery tomorrow morning.
How am I doing so far?
Question: Is the 40 days they have to respond 40 real days, i.e. send them on 17/02, they have until 29/03 or is it 40 working days, i.e. 8 weeks so send on 17/02, they have until 14/04?
Gonna send these off and add them all up and see what the total is. If it's as big as I think it might be, this could end my IVA (pleaseeeeee) at which stage I will approach Payplan and let them in on what I'm planning. But for now all I'm doing is reviewing my financial details for the last 6 years which is within my rights.
Thanks for the replies and help folks, I really am beginning to appreciate this website and those involved.
no it's 40 days real days - not working days. I like you saying you are starting gingerly - and then bashing out 8 letters and sending them off all at once!! GOOD LUCK!
Well I am taking it easy, I'm just checking out what I've been charged over the last 6 years by "The Big 8" as I'm now calling them for the 12 accounts I had. I'm not rushing in, I'm checking out the "lay of the land" first to see what the possible outcome might be and if it's worth rocking the boat.
You've certainly got your head screwed on right.
The very best of luck with all your claims, and when you've got all your penalty charges back, I'll open a can and drink your health.
Regards, Rooster.
If this has been useful to you, please click on the scales at bottom left of post. Thanks.
Advice & opinions of Rooster-UK are offered informally, without prejudice & without liability. Please use your own judgment.
Could this change my life?
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GOOD LUCK!
