Was I missold ?

RZero

Morning all first post so hi

I have been in an IVA for two years now through what was debt matters and now taken on by payplan.

It seems reading round this site that I may of been missold an IVA, I was not earning a great deal then 11.5k living with my parents and no shares or investments so no assets other than my tatty old Clio.

Now if I understand this correctly IVA are for helping you securing your assets or some thing along those lines ?

Would I of been better of going BR ? at the time my take home pay was 1010pm I was paying out all my debts at a cost of 960 a month.

So paying £400 was a life saver, so any advice would be greatfull thanks

Regards
Mick

RAS

Unfortuanately, I doubt if mis-selling helps with a IVA. Have you talked to Paypan about your options?

You need to move from where you are not where you might have been 2 years ago.

fnc6810

Were you mis-sold ahhh who cares who's bothered

Sorry this seems to be a standard attitude you get when you ask the unforgivable question Have I Been Mis-Sold - What mis-selling of IVA's out of the question - ask that again and you will be cast out

It seems to me that a lot of people are proud of their debt and like to show of how much they have left to pay.They seem to think IP's are these mythical guardians of the debtors their protectors who would rather throw themselves in front of a herd of stampeeding horses than let any harm come to their clients.

Lets not forget these people do not study for years to do their job for free and out of the goodness of their heart, its a career they have chosen to earn them money. But like in any profession you get the rogues in it for the most money and profit regardless of the conciquences and heartache to the client.
So yes mis-selling is possible

As for you i cannot answer
Look where you were 2 years ago you were in debt and like you say you pay out now less than half of what you did back then and will probabley end up paying less the you owed.

You were blinded and vulnerable by your situation and easy prey, but i would say you have taken the right option especialy if its relived some financial pressure

3 years to go for you now so keep it up and best of luck
fnc6810

Doglover

Hubby and i think the same about him being mis sold an IVA. But, with only 18 months left to go, it would probably damage him further by looking into it. We are putting it down to experience and looking forward to it's completion.

Keep going with it - it's hard but time does fly.

geoffky

fnc6810 wrote: »

Were you mis-sold ahhh who cares who's bothered

Sorry this seems to be a standard attitude you get when you ask the unforgivable question Have I Been Mis-Sold - What mis-selling of IVA's out of the question - ask that again and you will be cast out

It seems to me that a lot of people are proud of their debt and like to show of how much they have left to pay.They seem to think IP's are these mythical guardians of the debtors their protectors who would rather throw themselves in front of a herd of stampeeding horses than let any harm come to their clients.

Lets not forget these people do not study for years to do their job for free and out of the goodness of their heart, its a career they have chosen to earn them money. But like in any profession you get the rogues in it for the most money and profit regardless of the conciquences and heartache to the client.
So yes mis-selling is possible

As for you i cannot answer
Look where you were 2 years ago you were in debt and like you say you pay out now less than half of what you did back then and will probabley end up paying less the you owed.

You were blinded and vulnerable by your situation and easy prey, but i would say you have taken the right option especialy if its relived some financial pressure

3 years to go for you now so keep it up and best of luck
fnc6810

i think she deserves a better answer than this.....but debt is not my dept i am sure some others will be along and give you some more good imfo.

fnc6810

geoffky wrote: »

i think she deserves a better answer than this.....but debt is not my dept i am sure some others will be along and give you some more good imfo.

She probabley does deserve a better answer but as you know an IVA is a complex agreement often draughted by a Company that more than likley has its own in house solicitor or even the IP is a qualified solicitor himself. Saying that dreaded quote "was i mis-sold" dosn't matter because after 6 years of fighting my Mis-Selling case nobody gives a damn and nobody has helped (apart from MIVAA).

Now I paid my IVA in 17 months I did not get any Debt write-off and the creditor received 100% now if you read through my previous posts you will get the general idea of my situation, my IVA was pointless, Why was i advised an IVA to pay back 100% plus the Interest and the IP's fees with the risk of losing my house.
The answer to me is simple I was mis-sold
The amount i paid out was not cut in half i paid about £6000 more than my original Debt.
Why was i mis-sold? because i was blinded and vulnerable
Am i proud to be debt free? No I am embarrased and ashamed because i was easy pickings.

I have read all the documents from my IVA forwards, Backwards upside down and know it like the back of my hand but as for somebody else asking the question on mis-selling i cannot advise because i am not qualified to, all i can do is give an opinion and explain my situation on the same suject. It is then upto the person reading it to decide if there is any information they can extract from it.

Isn't this the way this forum should run everybody sharing their storys or is this an IVA advice site?

The Original question was Was I Mis-Sold?
Yes or No I don't know
fnc6810