www.iva.co.uk

Hey everyone!
Got a little problem..
I've put a PayPal credit to IVA
But there was still balance ( around 520£) on that account and I can't withdraw it now, my meeting is on 8th of October. tryed to call them and explain situation, and they said that my palpal credit account is under restrictions and can't really do anything now, I've ask aswell when I can withdraw this money coz its important for me and they set that it's 'hard to say when' what I should do?.. Thanks for any help and sorry for my english..
Dawid.

Is this balance a positive one? If not it will go forward to the IVA. If it is due to you I have no idea.

Hello so I've get that money from a sell on ebay, I've sold a phone, and straigh when my money started to be available i they put limits on my account, don't know what to do now..

Some banks treat IVAs like they are supposed to do with bankruptcy and they freeze accounts until the Official Receiver releases them. Of course, in an IVA there is no Official Receiver! They usually release funds when this is pointed out, but some require the permission of your IP

So should I keep calling them or what else I should do?..

If the balance is on your normal Paypal it should be ok. Don't know why it should be in a credit account.

It's not on credit one, but they still not allow me to transfer it anywhere and withdraw to my back account because like they said, they put a limits and just saw that thers 180 days and after that time I can give them details to send mh money back, omg 180 days??

I had a paypal account throughout my IVA with no problems. If you don't have a Paypal credit account I can't see the problem.

I've got meeting on 8 maybe after decision i should call the back because they saying now that thers nothing they can do I don't know why, so literally they not alloud to withdraw my money..

I think that paypal could be protecting themselves from the buyer of the phone raising a dispute and requesting a refund, they have 180 days in which they can do this.

Are you saying you owe Paypal money that is included in the IVA OP?

Yes, I've got around 2000 pound minus on my PayPal cradit, and also my balance on my PayPal is about 550 pound ( its not a credit money)

If you are listing PayPal as a creditors (you owe them £2000), then they can and have paused your normal PayPal account with the £530 in it that they could offset against the debt outstanding.

Only when the creditors meeting has been, will they consider releasing your general PayPal account for further use. Whether you get the £530 back or not is doubtful in my opinion ... think you may have to consider its gone towards your outstanding debt.

Sat Oct 03, 2020 4:54 pmdawid wrote:

Yes, I've got around 2000 pound minus on my PayPal cradit, and also my balance on my PayPal is about 550 pound ( its not a credit money)

I think that's your answer.

Agreed, PayPal may be excercising their right to off set. So basically, they may be intending to use the balance in your account to off set the money you owe them under the credit debt.

From the PayPal terms:
https://www.paypal.com/uk/webapps/mpp/u ... ement-full

Reimbursement for your liability
You agree that we may set off any of the amounts held in accounts held or controlled by you with any fees, charges or other amounts you owe us and any such amounts you owe to our affiliates as defined in the Indemnification and Limitation of Liability section below (including, without limitation, in respect of any services provided by any such affiliate). In simple terms, our right to set off means that we may deduct such fees, charges or other amounts mentioned in this section from a balance in a PayPal account held or controlled by you.