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There has been alot of press recently regarding requesting bank charges back from your bank.I am considering doing this.
My bank is one of the creditors who I owe money too. Is it likely, if I am sucessful in getting some of these charges back, that this will go towards what I owe them or would this be unfair to my other creditors?

Hello Natalie

This is fairly uncharted territory as the courts have only recently found in favor of the people disputing their bank charges. I would have thought that either the banks will simply deduct the money from what you owe them (as you will be unlikely to be paying the full debt off in the IVA you will not physically see this money) or you will have to offer any monies that you receive from them towards your IVA payment.


Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

Hi natalie

Your bank will undoubtedly have an automatic right of set-off if you are entitled to have any unfair charges refunded - but it is still a worthwhile exercise. So the debt to that particular bank will be reduced, leaving more money to be shared by your other creditors.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk