IVA Completion

Phaffy

I wonder if anyone can help me.... I have been in an IVA for a few years now, originally set up with Harrington Brooks which was then taken over by Freeman Jones, (horrendous communication!!).
I made my final payment last April and sent off the equity proof thing that they asked for. After not hearing from them until SEVEN MONTHS LATER - which ended up ME contacting them, they have now told me that I still need to pay another year into my IVA.
As you can imagine, I was extremely upset and angry with them as I am desperately trying to put all this behind me now and want to start a fresh.
I offered to pay the amount they wanted for the next year in one lump sum, but they reckon that isn't the correct way and still demanded that I attempt to remortgage my house and pay it in 12 instalments.
I simply wanted to pay it and get the certificate of completion as I can't face another whole year of this.
Can anyone help with firstly, if they are allowed to do this and also....am I allowed to contact the lenders or something direct ???
I have no idea what to do and I would really appreciate some advice.

Many thanks

foxy-stoat

It is common for the clause to be added at the start, if you have a property with equity then you try and draw out some of it to go towards the debt or pay for another 12 months.

Whats important is what does your original IVA contract say? You need to dig it out and have a read up.

sourcrates

Seven months of no communication is clearly a situation that would warrant a written complaint been sent to the company concerned, you must follow their complaints procedure, then give them eight weeks to issue you a final response.

If after that time, you remain unhappy, you can make a complaint about the service you have received from the IP.

You can do that here :

https://www.gov.uk/complain-about-insolvency-practitioner

PrettyKittyKat

I agree with sourcrates that you can make a complaint regarding their customer service however it doesn't change the fact that you need to follow what they are asking you to do - as it is part of the legal terms of your IVA and they can't just 'let you off' for this. It is also fair to say that you are aware you need to review your equity in an IVA so you should have been pursuing this being done rather than waiting 7 months.

How would you be able to pay 12 months worth of payments in one lump sum?

An option would be to log your complaint with freeman jones, start making the monthly payments as requested whilst they look into it (why delay the inevitable?) and then as part of your complaint say the resolution is that you want to pay it as a lump sum and you can provide the evidence of how you can do this. Or at the very least you can back pay the 7/8 months since your last payment and then continue paying for the next 4 months to make 12 months in total.