IVA Complaint

claregreenacres

Hi everyone,

I wondered if anyone can offer me some advice? I've been doing an IVA and was due to finish in October this year, however in November 2009 my IVA was taken over by a new representative at the IVA company i use and at this point I was told that I have £5,000 of additional monies owing that will need to be paid off to complete my IVA. She explained that I would have to continue to pay this off after October this year until the additional monies are cleared - has anyone else had this?

Thanks

Clare

DarkConvict

I have no idea, National debtline or CCCS might be able to advise what is required on an IVA.

Tixy

Hi Clare

Has the new IVA rep explained why you have additional money owing? Is this the 1 year extension as they have been unable to release equity from your property (this does sometimes happen)

Charco_2

But even then, there should be an investigation into the amount of equity available from the property - if there is none then there is no need to extend the IVA.

Without the research the company are just making up an arbitrary figure and adding it to your IVA!

SO Ms GreenAcres, did they have a look at your property (paperwork), your mortgage and the market and decide that you had equity that you should release but might be unable to?