I think I’ve been mis sold

Airbags4

Complaint.

I first took out this IVA through Harrington Brooks in 2016. The time I took it out I was suffering with Mental Health issues (still am), fleeing domestic violence, looking after 2 children on who is disabled and was on the verge of loosing my job because I needed to care for my son.

I spoke to the people at Harrington Brooks and at the time they were (what I thought) VERY HELPFUL! I told them I was about to leave my job as I needed to care for my Son, and I was advised that if I did and my payments needed to reduce then that would be fine as its a change of circumstance but not to worry about it as my payments would only go up for the last year... but I wouldn’t have to pay the rise if I got a new car on finance as I would need it for my son. So when I leave my job just let them know and they will adjust payments. Its the best option for me, I will help take the pressure away and It will help my mental health.

 

So looking back I feel I was really pressured. In between courts, fleeing domestic abuse, moving house and looking after my disabled son and practically breaking down, they said this was my only option or I would loose my car that I had in finance... the car I needed to get my son around as he has RyR1 gene mutation, muscle weakness, ADHD, Autism and problems with his ears. He uses a wheelchair and I could not cope without it. The only way out I was told was to set up this IVA. They kept chasing me up to sign things that I said I hadn’t had time to read. The man advised me to just sign it and read it after.

I will never forget the day it went through. It was the day I was in hospital with my Son when he had a muscle biopsy. I got my phone out to call for my dad to pick us up so we could go home. My phone had been cut off. I had no way of contacting him. I had no money and no phone and a poorly boy. 

I was in a really bad place mentally. I was waiting 2 hours before I managed to call my Dad, who also couldn’t get hold of me.

 

That was the start of the journey.

 

My IVA was due to increase in March this year because my car I had on finance would have been paid and along with my wages I could have afforded to pay more, my ex, who I fled domestic abuse from found out where I lived and had to go through all the police again. My car got smashed up and I had to move again. I couldn’t get a payment break for the car as  was in an IVA, and I was advised to send it back and it will be added onto (what I owed) my IVA. I have spoken to freeman Jones and they have agreed for me to carry on paying a lower amount as my circumstances have changed and still take the lower amount weekly. I have no Idea how long I have left, how much I need to pay and if the payments will increase or if they have extended it.

When I have called I get loads of different answers, like I owe £4000 and on another call I owe £7000. I never get anything in writing and I just don’t know what is going on.                                                                                                                                                                                                                            

 

I have no family help other than my partner... that is about to loose his job due to the pandemic. My son isn’t getting any better and I can not return to work. I really feel like I have been taken advantage of.

 

I am suffering so bad with depression, especially because I have been in shielding because of my sons disabilities.

 

I need to know what is going on please and what my options are.

I need this complaint looking into because the person who I took this IVA out originally with knew how vulnerable I was and knew this wasn’t the best option really for me. I feel the company has made a profit off of my vulnerability. Especially when I was told the first few payments were to pay them for the work and the rest goes to my debts. It was all lies.

 

I have been up all night with things running through my head and I’m not coping very well. I’m scared my IVA is going to fail and I have done all of this for no reason. Well the fact is I should have never been pushed into this in the first place, and If it does fail, all I have done is line the pockets of the company and not paid any of my debt off.

phillw

I would first focus on self care and getting your sleep sorted out as worrying about it won't improve your situation.
It's not easy, but you'll be in a better position to write a complaint if your head isn't spinning.
https://www.debtsupporttrust.org.uk/blog/2013/2/22/i've-been-missold-an-iva-or-protected-trust-deed#:~:text=If%20you%20feel%20you%20have,Financial%20Ombudsman%20Service%20for%20free.

sourcrates

Hi,

Ok, where to start with this, firstly, you appear to mis-understand how an IVA works, its not like a conventional arrangement where your monthly payments reduce your balance, it dosen`t work that way, you make 60 payments, which go into a "pot", usually over 5 years, at the end of the arrangement, the IP makes payments to your creditors, from that pot, and takes their fee`s, (they may make other payments to creditors at various times throughout the arrangement also) these are called disbursements, any missed payments will have to be made up at the end of the arrangement, so it might last a further 12 months.

After that, you are done, more disbursements are made to the creditors, any last fee`s are taken, then any debt left outstanding is written off, and you are released from all further liability.

So ringing up asking for your balance on a regular basis is a pointless exercise, and a totally unnessessary thing to do, the balance of your debt is completly meaningless, and Harrington Brookes staff should have explained this too you long ago, you are nearly at the end of the process now, it would be a shame to fail it at this late hour, if your finding it tough to meet the payments, please speak to your IP, and come to an agreement with them, they have discretion to reduce your monthly payment by up to 15%, any more would require the approval of your creditors.

So all is not lost here, you just mis-understood how the system works that`s all.

Airbags4

Hi, this is what I’m confused about, they said I could get another 18 months added because I’ve reduced my payment, due to not being able to work and my circumstances won’t change... but they won’t give me a time scale of when it will actually end. 

sourcrates

Airbags4 said:

Hi, this is what I’m confused about, they said I could get another 18 months added because I’ve reduced my payment, due to not being able to work and my circumstances won’t change... but they won’t give me a time scale of when it will actually end. 

Thats because they most likley won`t know as yet, 7 years is the longest IVA i have seen, and that is rare.

My suggestion is, put this all in writing, address it to your IP, ask for a written explanation, the telephone is rarely a good way to discuss these things, as the call handler 90% of the time just dosen`t know the answer.

Ask how much longer your payments will continue for, emphasis you know you have the right to make an official complaint about your IP`s conduct should they not be forthcoming with an answer.

Good luck, stay strong, and just don`t give up on it, not yet.