I wonder if anyone can answer me this question. We had an account with St James's Place Bank, which is part of Halifax. When we first took out our IVA we was lead to believe that charges on our outstanding debt would be frozen. St James' continioulsy contacted us by phone asking for money, but I told them I wasn't prepared to talk to them as we had an IVA. In the end I had to contact my IP and 3 times their legal department contacted the bank. But we are still getting monthly statements from them charging us interest on the outstanding balance. Is this right?
Doesn't matter if they do keep putting the interest on - they won't be able to claim it back. They will be getting the same dividend as your other creditors.
Pass the details on to your IP each time it happens, they should be sorting this out for you.
Don't worry - they can do nothing to you and it is just costing them postage.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Since May 2008. St James' started contacting me by phone in the July and I told them that I had an IVA but they said they hadn't received the paperwork and they wanted me to settle the account, they would except a small token towards the debt, I did tell them if I could pay them a token towards my debt then I wouldn't have entered into the IVA, I then terminated the conversation. I contacted my IP and told them about the telephone coversation and they told me not to worry that they would re-send the paperwork. The phone calls till continued and the even started to ring my mobile at work and leaving messages. I got so fed up that I did answer my mobile and lied to them saying I no longer was the owner of the mobile.
My IP was aware what was going on and in the end they got their legal department to contact them on two seperate occasions, but we still receive these bank statements with interest. But I will not worry about them anymore.
We had a similar problem with Lloyds TSB although they never called to hassle us. They kept adding interest plus the £25 monthly service charge onto our bank account but every often used to put through a correcting entry on the account.
Another complication is that this is a joint account so my wife is trying to negotiate a settlement with them.
Our IP is adamant that no interest or other charges can be levied since the IVA was approved.
Debt problems, what debt problems? I'm not in De Thames, I'm in De Nile.
Thanks everyone for the response to my question, it is greatly appreciated. It nice to know (but not if you know what I mean)that we aren't the only ones experiencing this problem.
