Interest on debt not included in IVA paid to IP after completion. Naturally I am very frustrated.

[Carol.ln]

Hi, I have recently completed my IVA, July 7th 2015.

I had black horse motor finance for part of the iva, but it was never included in the agreement.

I have received a letter from black horse stating that I am due a refund of interest due to their omission of telling me that I could voluntarily terminate the contract at any time.

I have been awaiting my cheque for 2 weeks now, only to be told that the money now has to go into my IVA, which is complete. I understand that PPI I was due during it went back in, but this money is interest I've paid on a debt that was never in the iva that is being paid back AFTER the Iva has completed.

Understandably I am very frustrated with this, after 5 years of doing everything my IP has asked, increased payments from £177 to £448, I want to know that the money from black horse is mine.

Thanks

[relieved33]

I suppose if you had have had the money before entering your iva, you would have used it to reduce your debt so creditors would have had it?

Seems a lot of work to me for your IP, unless of course it's a large amount. Personally I cannot see the point of getting paperwork, creditors details, pro rata payments etc etc.