Iva/dump missing payments

Pinkylouloubell

Hi all,

Need some help and advice.

My ex partner and I had a joint loan with Halifax.

In 2008 he entered into an iva and I started a dmp.

His iva came to an end at the start of march this year.

Both his iva and my dmp were making payments to the joint Halifax balance.

He got hold of a copy of all payments sent to Halifax from his iva and I have compared that with the annual loan statements sent to me from Halifax.

There is over £700 worth of missing payments

All of my dmp monthly payments have been taken off and some of his iva payments, but in the 5.5 years his iva has been going there are random periods of up to 11 months where Halifax has not taken the money off at all even though the excel document stepchange have sent him clearly shows the payments were sent.

I also believe the payment from his iva go from stepchange to the insolvency exchange and then on to Halifax, so don't really know where to start with this.

As the debt is solely now my responsibility and I am a single working Mum on a very low wage I am very keen to get this sorted ASAP.

Any advice greatly appreciated.

UpToMyNeckInIt

...Difficult one this.

Interesting as well that both of you had a joint debt, but dealt with it over 2 very different solutions. How did you arrive at your decision?

It might be the case that with your joint debt, Halifax have merely deducted your partner's IVA repayments, and placed the rest of the debt in your name only - knowing that if/when your DMP completes, they will ultimately receive 100% of their money.

How long is your DMP going to take out of interest? If it is likely to be more than 5-Years, have you not considered one of the insolvency options as well? Do you have any significant assets to protect, ie: property?

You have a debt of £11K, and by your own admission a 'very low wage'. If it can be determined that your realistic 'disposable income' is less than £50pcm, you may qualify for a DRO. Even going BR may be an alternate option.

Both insolvency options are likely to ease the 'hard going' far more quickly and write-off a lot of debt. Or you can continue to repay what you can afford, up to 100% of your debt (plus any interest/fees that may apply), over a lengthy DMP.

You have choices. Now is as good a time as any to review your options.

Good luck.

Pinkylouloubell

At the time the iva/dmp was set up I was not eligible to enter into an iva.

I have already been paying for a little over 5 years and have until July 2017 to go to pay this back in full.

This is the only debt I owe now (apart from an on going credit card) and the total is around £4000.
Haven't been on here for quite a while so need to change my sig.
Hopefully if this £700 is taken off eventually as he has paid these, but it was never taken off of halifax so balance, it will be the end of 2016.

UpToMyNeckInIt

...Aah, that's better.

You would be wise to check both with your DMP provider and your partner's IVA provider, that the agreed IVA dividend has been paid - as you say, it will probably automatically adjust anyway.

Probably best to stick with your DMP if it only has 2 Years left. Then you will be debt free.

Well done - always nice to hear of customers coming out of the other end of a DMP/IVA etc... in a better situation.

Pinkylouloubell

Thanks,

I don't think all the ones was paid from the iva to the loan, even though stepchange have provided proof by means of an email containing a document.

Halifax are saying they haven't got it ?!?:(

longtermplanner

Talk to Stepchange and ask them what you should do. Somehow Stepchange and Halifax have to talk to each other.

Pinkylouloubell

I think it's gonna get messy.

Stepchange won't talk to Halifax and vice versa.
Also, we can't talk to the insolvency exchange ourselves as they don't deal with customers direct, it has to be through the IP.

Have written a letter to Halifax containing all info regarding the missing payments, so gingers crossed.

longtermplanner

who was your partner's IP? I think your partner should put in a formal letter of complaint to them, saying that Halifax have not received the payments from the IVA..