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Reclaiming charges with an IVA/DMP etc


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Just had a look around the net to see what the standing is regarding reclaiming charges whilst in an IVA (Independant Voluntary Arrangement) or DMP (Debt Management Plan). There seems to be a lot of mixed views.


So, I rang PayPlan who were very helpful and asked what would happen should I be successful in claiming back my charges from 4 creditors totalling approx £8,000 considering I still have 4 years left of my IVA at £300 a month.


The general answer is all the money I successfully claim must be paid back to my creditors via my IVA, and no it won't reduce my monthly amounts nor will it reduce the 4 years I have left...so, it begs the question, is there any point in me persuing the creditors apart from the fact that I can use the oportunity to get them to do some work?


Seems a bit of a waste of time to me, might be a good idea for anyone else in my situation to reconsider?


Interested to hear what anyone else has to say?

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Actually, I am pretty pee'd off now, to think that the only reason I got into debt in te first place was because of souring bank charges, otherwise there would have been no need for and IVA. :mad:


Might get some legal advice, this can't be right.

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