I enetered into an iva in april 2007 because of a marriage break up. One of the debts was for a large amount and a few where a lot smaller owing to credit card companies it has now come to light that the large loan was not actually in my name but only in my ex husbands so I actually owe just under £7000 to various cc companies. I had a phone call from Blair Endesby a few weeks ago to say they were looking into it, dont make nay more payments and its very likely the fee's will be refunded so me thinking oh christmas has come early and I have been struggling to pay the amount of £215 a month. Then i get a call a week later to say we are investigating it and sorry but can you still keep youre repayments up I was so angry and upset. I belive i can come to a much better arrangement with my creditors directly and be a lot better off and yes before anyone says have you spoke to them I have and its not getting through obvously I dont want to go bankrupt no way but there has to to be a way out of this as I think Blair Endesby should have checked the creditors at the time and it would have come to light that i didnt owe the £28000 to Natwest and am I right in saying that you have to owe more than £15000 to qualify for an IVA so what the heck has happened Im so confused I just want to exit it get any fee's refunded that they owe me and agree a manaagment plan directly with the creditors I think it wouild be best all round. So any advice? oh by the way incase anyone was thinking why didnt I realise the natwest loan wasnt in my name I was after a marriage breakup distraught and beside myself with worry so thats why it probaly got overlooked by me but I would think that these things should be checked? thanks anyone who replies to me. HELP!
Your Ip should have checked the debts were correct as well!! Did natwest vote on the IVA? Seems a very strange set of events. Has your ex been getting chaded for the money owed?
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Hi, hopefully one of the experts will be able to advise. I'm not sure how this works as we are the final check and sign off on the proposal. I think they would take the loan out and you continue to repay the £7k. It would definitely be in order to renegotiate your fees perhaps to a level equivalent to DMP fees. But this is just a guess.
If this loan is not part of the IVA then I would say after three and a half years the other £7k may well be almost paid off by now. Check on your annual statements to see what has been paid to the creditors.
Hopefully one of the experts will be along to help later.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
How on earth does this sort of thing happen? I am often accused in certaim circles of being slower than other firms - indeed this can often be a barrier to me receiving work. I prefer to call it thorough and detailed, in which case events like this cannot possibly happen given the background research we do before putting a case forward.
Of course if you told your IP firm that the loan was also in your name, then some of the burden of blame has to be shared. The IVA can still run for debts of £7,000, or an application could be made to Court to have the IVA voided due to material irregularity. Either way your IP firm should consider whether the fees they have charged should be refunded - in which case you may find that your debts are now significantly reduced to enable you to make ongoing payments to them outside of formal proceedings.
As a matter of interest - why did you sign an IVA proposal in the knowledge that this large debt was not yours?
Hi
Possibly the best solution would be for payments made to date, over 8.5k ? to be used to repay your creditors in full and the IVA concluded meaning that you are now debt free.
B/E post on here and should pick up and act on your post
Regards
since debritouts main creditor was nat west owing £28000,they will most likely already have been paid most of the dividend since 2007.trying to get money back from a bank,well good luck.
Hi everyone thank you all so much for youre comments it means a lot Melanie at the time of taking the IVA out I wouldnt have signed if I had realised that it wasnt in my name as I said at the time with everything going on I just didnt think to double check I thought it was joint loan but turns out just in the ex's name. Paul I have no idea where my ex is or what is happening in his life we divorced and went our own seperate ways havent seen him for like 3 years so have no idea but am sure Natwest is probaly after him. Oh and Natwest didnt vote when the propaosal was put through. I feel such an idiot for taking out an IVA I really feel in a rut Hi Andy thank you yes Ive checked what i have paid in so far and youre right its about that amount BE havent even said that finishing the Iva after 3 years would be a option but I did read somewhere else that it can and has be done if enough money has gone into the pot am sure the creditors would be happy to receive what is offered well I hope they would Mr Blue sky I dont owe Natwest 28000 it was just in the ex's name not mine Thank you all so much hopefully Ive answered all youre questions and its interesting Melanie that a IVA can be voided hmmmm
Your best bet is to work with your IP firm here to put this right. They need to charge a fee proportionate to your creditor claims, and enable this arrangement to be closed off as soon as possible.
Hi was just thinking am I allowed to contact the creditors directly myself and explain circumstance and pay them a token amount each month which would be considerabily easier and a lot cheaper for me as I really cannot afford to pay this iva with petrol gone up, i have to have a car to travel to work my living costs have gone up and I bugget everything so tightly but this is no way to live its making me ill and stressed. Thanks all that reply
You can let your IVA fail by missing three payments and then negotiate with your creditors yourself.
Find out from your IP exactly what has been paid to the creditors.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Thank you Kallis that what I was thinking of doing cause BE threatned me that the crditors could make me bankrupt but I would think that this would cost them money to do this and the amount I owe to each one isnt a great amount when its broken down. Yes I will do oh and if BE do comment on here they have the iva in my married name of Deborah ******* ohh and I rechecked the Natwest amount its just under 25000 not 28000 as I orginally thought but no matter as its not in my name but its just I thought I had better claify that to them. Thank you all I off to another finacial advisory place tomorrow similar to the CAB so I will mention this forum to them as well and whats been said hopefully a solution can be reached.
Hi Andy thank you yes Ive checked what i have paid in so far and youre right its about that amount BE havent even said that finishing the Iva after 3 years would be a option but I did read somewhere else that it can and has be done if enough money has gone into the pot am sure the creditors would be happy to receive what is offered well I hope they would 
