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Iva

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Hi . Im looking for a bit of advice. In 2005 i took out an iva with a company called unity.Which was for £400 a month for sixty payments.After 48 payments i was struggling to afford the £400 a month due to wages lowering , Health problems and the death of my father. I tried to get a lower rate which they agreed to £250. But because of rent council tax etc i was never able to repay any. In 2011 i phoned them to try and sort something out but was told it had been cancelled due to non payment which i couldnt argue about as i was a year short. In April this year i had a letter from them regarding the vat i paid on the iva and for them to try and get it back .And also a company which could get my ppi back which could be paid to help with my year owing .Which i thought a good idea.I recently recieved a letter from them saying i had two ppi claims successful now. RBS and Mint which was around £2000 .But on the 12/9/12 i recieved a letter from unity saying my iva had been cancelled due to non compliance. There was a £1600 amount on there which was from RBS .But none from mint which i have since received at my house by cheque. I dont know what to do with it as i dont want to give them money if its not gonna help me but i dont want a bill from Equity in Finance who unity (RSM Tenon) recommended me to do my ppi.I stress i wouldnt have done the ppi with a company unless it was to help with me for the final year of my iva .. Just dont know what to do..Help please . Thank you

Comments

  • Foxy-Stoat_3
    Foxy-Stoat_3 Posts: 2,980 Forumite
    Think you need to get a written statement from your IP including current debt of all your creditors and go and see either CAB or debt adviser and plan your next move.

    I assume you haven't paid anything to anyone since 2009 ? I would of thought 3 years of non payments they would be writing/phoning you every week?
    "Dream World" by The B Sharps....describes a lot of the posts in the Loans and Mortgage sections !!!
  • rmales
    rmales Posts: 6 Forumite
    Thanks for your reply i havent paid anything since 2009 no..The certificate of non compliance has just recently been issued . The iva had twelve more payments to go.I understand that i was twelve payments short but i was hoping that the PPI payments were going to be acceptable as payment.. But as i have found out it was a waste of time me doing that as its not helped me at all...There has been £1609.91 paid into my iva from my ppi and i have got a cheque for £402.28 in my house which i am reluctant to send because its not helped me in the slightest.Thanks again
  • Foxy-Stoat_3
    Foxy-Stoat_3 Posts: 2,980 Forumite
    I thought that all the PPI monies go to your IVA once your IVA has finished.

    How has your IP left your situation? BR or still owing a debt incurring interest?

    I think your IP should of had a revised creditors meeting after you couldn't afford to drop the payments down to £250 or extended the term another year rather and paying £125 for another 24 months than failing it.

    Were you consulted at all, or received any correspondence when you failed to make the revised payments?
    "Dream World" by The B Sharps....describes a lot of the posts in the Loans and Mortgage sections !!!
  • rmales
    rmales Posts: 6 Forumite
    I only had a letter saying they would accept £250 for the last year not £125 for two years which would have been easily more affordable.I have only had two PPIs back for£1609.91 and £402.28 even though i had a tsb credit card and loans ...sainsburys loan ..cap 1 ..etc..
  • Foxy-Stoat_3
    Foxy-Stoat_3 Posts: 2,980 Forumite
    So what did you do when you got the letter saying your repayments had been lowered to £250? Ignored it and not paid anything or renegotiate?
    "Dream World" by The B Sharps....describes a lot of the posts in the Loans and Mortgage sections !!!
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