Anyone else feel they have been mis-sold an IVA?

mrskingandthescarecrow

Started an IVA last year and after receiving the 1st annual statement got the first insight to the huge fees the IP intends to deduct from our payments. Maybe I sound naive (I am because I've never had an IVA before!) but when I was taking out the IVA initially the fees were never given to me in writing and after the meeting of creditors Debt Matters told me (on phone) that the creditors would agree if DM didn't take a supervisor's fee. So after that I thought if would be FOC.

Been feeling really low until today. Spoke to a Debt Charity Helpline who have referred me to the Financial Ombudsman. If I can prove that the IVA co have deliberately withheld the fee info from me when setting up the IVA then I should have a good case for damages (just a refund of payments will do me).

Does/Has anyone else feel like they were mis-sold their IVA and what action/outcome have you taken/had.

malestrom07

I would definately involve the FOS, Debt Matters share price says it all, and it's not just a general decline in new IVA's that has caused their decline, I have posted on here before about dodgy IVA's and you really need to persue a detailed complaint. The Ombudman is very powerful, they can make debt matters put things back as they were at there cost, if they rule against them. You then have a fresh start to look at your debt issues again. Complain complain complain, you are not alone.

RAS

Have a read of this thread

http://forums.moneysavingexpert.com/showthread.html?t=919055

mrskingandthescarecrow

Thanks for this - it has given me more courage to take the big boys on.