Annual Review

[Garyw37]

Just had a phone call from ebenegate and they are trying to change my payment from £189 to £430! This cant be right as thats more than i was paying out before my i.v.a, also anyone got any advice on settling my i.v.a early? As i may be able to borrow money from my parents to pay it off but unsure how this works.

Thanks

[Foggy]

Ebenegate are likely following their owners (Creditfix) and will be doing things there own sweet way ! You need to get them to explain, in detail, how they got these figures. I gather from another post on this topic, that they are difficult to get hold of, so I would suggest emailing your IP direct. Other post here: payment-level-increased-for-no-reason-t89973

[Foggy]

Oh ... a full and final offer is usually based on remaining payments, although Creditfix (and probably Ebenegate) will try for the full outstanding debt plus fees --- ignore them, they are just being greedy!

If you are a homeowner it is usual to add the 12 months payments in lieu of equity release. Also CF like you to pay the variation fee (£300) as well.

[Garyw37]

Thanks for the reply, i’m currently in contact with them now as the numbers they sent me were way off, they’ve got me down as earning £1960 a month after tax! I didnt have a job until recently so they’ve counted my wages and universal credit as regular income every month.

Also i currently live at home so just need to find out what amount is required to finish the i.v.a, would they provide that or is it a case of me making an offer? Working out from my current payments i still owe them around £4500.

[Foggy]

You need to make the offer. As I mentioned, in the past CF have pushed for more, but that is not their place. You will need to settle the monthly payment first, before working out the remaining payments.

[Garyw37]

Ok thanks for that, will wait and see what payment they come back with as no chance i can pay £430 from my original £189!