Personal Finance

iva and bank charges reclaim

i am presently in a iva one of the creditors is the natwest then last year i reclaimed bank charges successfully with the natwest they paid the money 4900 into my account which is still open but hasnt been used for 2 years so i have no cheques or cards for the account. they automatically took the 1200 owed on the account and the rest is just sitting in the account i have informed my iva people of this money but they have just left it there can i ask for this to be paid to me?

tallacre1 Wed 07/05/08 13:43

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hev
Wed 07/05/08
19:23

Check your court order I have to give 50% of any additional money to my IVA. natwest have acted illegally by taking the money you owe them out of the payment you need to inform your supervisor immediately . It is not allowed for you to make any preferential payments to creditors that are in your IVA. It is up to you to give whatever percentage of any extra money to the IVA supervisor and then the supervisor will pass that money on to your creditors . The IVA could fail if you don't act quickly especially if your other creditors find out.

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