IVA's And Windfalls!

[kano24]

Hi all, I would appreciate some advice.

 

I currently have an IVA that is due to end in a a few months time. I have recently been succesful in reclaiming just under £4000 worth of bank charges from Lloyds TSB.

 

Having been in contact with the supervisor of my IVA, they are of the oppinion that the money I have recieved is a windfall, and I need to pay it into my IVA for the benefit of all my creditors.

 

I am not of the same oppinion. I would a agree that something like a lottery win would be a windfall but I can't see how the paying back of unlawful penalty charges can be seen as though.

 

I would be grateful for any comments from anyone with any legal knowledge on this.

 

Many Thanks

 

Paul

[jaylee15]

Can I just ask, if you only have a few months to go on your IVA, why did you tell them?

I have an IVA and I reclaimed my bank charges last year April and have my IVA since the year before and I certainly didnt declare that to them!!

My IVA does state that if i receive a bonus or lump sum, I should declare it to them and that would go towards the IVA contributions, but the way I saw it was I reclaimed my monies which I believe I was entitled to have paid back and I didnt why I would have to hand it all over to them.

[Goldlady]

My argument would be that this was income you had already received and paid tax on therefore it is not a windfall but a refund of money taken out of your earnings. After all, depending on how long you have had the IVA, you would have declared your net earnings to the IP and the amount removed by the bank to fill their coffers would already have been taken into account in the IVA. In the same way that it is not income for benefit purposes or tax purposes.

[gizmo111]

I've seen a few cases where it has been treated as a windfall, and the IP has agreed 50% to IVA nd 50% to the claimant.