Quandary

cloudyfields57

I took up an IVA in 2020 after getting into some quite bad credit card debt. Unfortunately I let it slide due to the country coming out of the lockdowns and the price of everything booming, petrol, groceries and everything went through the roof at a time I was expected to pay quite a higher rate for the last two years of the IVA.

The IVA was officially terminated late last year and I now have debt collection agencies asking me to pay 17k in total. 

The total is higher than original, perhaps the interest that was frozen has now been levied. 

The agencies are asking me to go online and put in my earnings and agree to paying off the debt over time bringing about an even greater total of over 20k. 

Where do I stand? 

Grumpelstiltskin

The IVA company will have added all their fees to the remaining totals, that will be why the balance is high.

Can I ask why you did an IVA for such a relatively small amount of debt?  An advert on social media?

Did you not consider a DMP?

RAS

cloudyfields57 said:

I took up an IVA in 2020 after getting into some quite bad credit card debt. Unfortunately I let it slide due to the country coming out of the lockdowns and the price of everything booming, petrol, groceries and everything went through the roof at a time I was expected to pay quite a higher rate for the last two years of the IVA.

The IVA was officially terminated late last year and I now have debt collection agencies asking me to pay 17k in total. 

The total is higher than original, perhaps the interest that was frozen has now been levied. 

The agencies are asking me to go online and put in my earnings and agree to paying off the debt over time bringing about an even greater total of over 20k. 

Where do I stand? 

Do you have a completion certificate? Exactly what happened at the end of your IVA?

ManyWays

The IVA was officially terminated late last year
Do you mean it failed, if so the IVA firm should have sent you a report containing all the debts in your DMP and what was paid to them. You should cross-check the amount any debt collectors say with the amount on this report.

What sort of debts were these? Have they all been sold to debt collectors? 

cloudyfields57

ManyWays said:

The IVA was officially terminated late last year
Do you mean it failed, if so the IVA firm should have sent you a report containing all the debts in your DMP and what was paid to them. You should cross-check the amount any debt collectors say with the amount on this report.

What sort of debts were these? Have they all been sold to debt collectors? 

Yes. They've been sold on the debt collection agencies now. The IVA did fail. 

cloudyfields57

ManyWays said:

The IVA was officially terminated late last year
Do you mean it failed, if so the IVA firm should have sent you a report containing all the debts in your DMP and what was paid to them. You should cross-check the amount any debt collectors say with the amount on this report.

What sort of debts were these? Have they all been sold to debt collectors? 

They are credit card. Amex. And Mastercards. Some HP for furniture.

ManyWays

Abd have all these debts been sold to debt collectors?