Hi all.
after some advice!
Prior to our iva we were paying a DMP.After checking records and speaking to greg pennington we payed 14 months into the plan £5426 after fees. On checking my annual report there is no record of this and the money we owe to creditors is the same as when i started the plan (interest was frozen during the plan). Would this have been used to pay interest that was frozen?
total debt £25186 = proposed payback £18240. have tried ringing FJ but get a voice message saying no ones available.
Thanks!
Hi, Andy!
Thanks for the reply! I'm trying to contact FJ with regards to this.
from my recollection when i started DMP the amount owed was £25k. According to my annual report, it's £25k. I have payed in over £9k in both IVA and DMP to date.
Your debts should have gone down under the DMP, how much did you pay into that ?
Strange point is that it will not have any affect on your current IVA payments, as these are the same regardless of the actual debt amount. It will just be interesting to see how much you have paid into the DMP and how much the balance actually changed
Andy,
Spoke to gregory Pennington today and they said i made 15 payments, 1st payment was set up fee, payed in total of £5426 to DMP.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Andy Davie
Hi
Your debts should have gone down under the DMP, how much did you pay into that ?
Strange point is that it will not have any affect on your current IVA payments, as these are the same regardless of the actual debt amount. It will just be interesting to see how much you have paid into the DMP and how much the balance actually changed
It does seem curious if the figures have not movedc, but surely some money must have been paid to creditors. Are you sure that they agreed to stop charging interest and collection charges, as if not this could equate to some of the balance.
Greg pennington confirmed to me yesterday that all charges and interest had been frozen. They also confirmed i paid £5426 into DMP. Balance at start of DMP was £18424. Balance when switched to IVA £17062. so by my calculations balance going into IVA should be £12998.
Well seems that MBNA claimed interest and charges totaling £4100 for 2 cards for 15 months. I had originally been told that these had been frozen. Arrow global have now bought the card debt from MBNA and have not even put a claim in yet for any monies owed. strange, 15 month into an IVA and they have not claimed for a penny of a £7,000 debt?
