Is this normal?

[Lisa2009]

F&F has been accepted but hubby has been asked to keep paying monthly contributions till they recieve the cheque. Is this normal?
I find it a little odd that they still want payments after an offer has been accepted. They expect us to pay a higher mortgage plus keep paying the IVA till funds have been recieved.

mrs skint

[ray_a]

We were talking about this yesterday and it was thought that the IVA payments should be varied because your mortgage payments have gone up.

I would suggest contacting your IP to suggest a variation of the IVA payments.

Good Luck

Ray

[Adam Davies]

Hi
They should receive the cheque a few days after you remortgage so you will not be paying the new mortgage and IVA payments
Regards

[kandh]

We approached our IP for a F&F beginning of August and once variance proposal went to our creditors, we were told to stop paying our monthly contribution as our F&F figure would have taken this into account. Our meeting was 17 September so we didnt pay Septembers contribution (too late to stop August's). Was a little scary doing this as we had never missed one before but we were told if we did pay it, it could have been a few weeks after the meeting before we got it back.

[Lisa2009]

They have just taken this months payment.
Solicitors made a mistake and sent the cheque out to both of us but we dont have a joint account so we had to send it back so they can re-issue it. Now we have a bigger mortgage due out on monday and we have been told we cant have theIVA payment back even though the F&F sum was agreed before.
Didnt have time to cancel the standing order as we had to give 48 hours notice so we were too late.

[Adam Davies]

Hi
Not heard of the 48 hours notice to cancel a SO,who told you that ?
At the end of the day you should not pay both the increased mortgage payment and the IVA payment,how much is the difference ? As your IP if you can knock the difference off the cheque that you send
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[debbiw]

Hi Skint
I personally wouldn't pay the monthly payments anymore, but that's just my opinion. Good luck x[:D][}:)][:p]

[hymers]

good luck

[BECKY]

My banks the same , if the cancelled standing order is due to go out in the next 2-3 days they can't guarantee it wont go. I would knock the amount theyve taken off the settlement that u send through, surely if u have an agreed amount and all creditors have agreed they cant take more!!

[emma_t]

That all seems a bit wierd after you have agreed a F&F, especially as you now have a higher mortgage payment - not what you need just before Christmas[:(]

I hope you get this sorted asap and they refund the month's payment[:)]

[Lisa2009]

48 hours to cancel standing order from bank. We missed it.
Emailed and asked could we deduct it from the ammount the creditors agreed to and was told NO, payments must be made till funds recieved

[MelanieGiles]

You should not be paying any more contributions, and ought to tell your bank to cancel the payment order. If payments are incorrectly taken from your account, I would deduct these from the mortgage cheque and send a personal cheque for the balance.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[Lisa2009]

Its odd because we assumed that now the offer has been accepted, hubby no longer had to pay into the IVA. When we emailed her she said he still had to pay till funds recieved. She said this was stated in the variation report. We cant find it in the copy of the report that was sent to creditors and as yet we havent recieved anything since the offer was accepted. We thought we would get something telling us who voted and if there were to be any modifications.

Anyway, the standing order has been cancelled now and hopefully they will be paid by the time the next payment is due.
Still, we could have done without them taking that because we have to pay a higher mortgage on monday.

mrs skint but nearly free

[MelanieGiles]

You should have received a Chairman's Report of the meeting within 4 days of the acceptance of the variation. Again I would reiterate, that you do not need to make ongoing payments unless this was expressly provided for in the IVA proposal.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[Lisa2009]

We have just emailed and asked about a copy of the chairmans report.
As for this months contribution, i suppose we will have to write that off. Luckily, the mortgage lender we were with before we remortgaged sent us a letter today saying they are refunding us this months payment we made to them so its not all doom and gloom.

mrs skint but nearly free [:D]