prefer someone elses opinion could you help??

[oggler2001]

hi,my wife and i entered into an iva 2 years ago after initially paying off our debts through a well known debt management company for the previous 6 years.we initially owed our crediters 26,000(40,00 after default charges were applied)and for 6 years paid just over £300 per month,never missing a payment.

at the end of the 6th year we received a statement claiming that we still owed 26,000 because interest was still being charged and at our current rate we wouldnt be debt free for another 9 years.we were absolutely gutted!!.

we asked baines and ernst advice and they advised us to talk with there sister company blair & endersby about iva's.....they inturn advised us to undergo an iva through themselves which would involve paying 210 per month,paying 50% of any extra income we get and after 4 years remortgaging our home to raise 6000 to pay into the iva.this at the time sounded like the answer to all our prayers but we think very differently now,we genuinly believe we have be duped into this and fear we will end up losing our house after all!!.

we havent missed a single payment EVER!! but they claim we have earnt almost 6000(3000 each year so far) extra and must pay 50% into the iva before the end of the iva anniversary date(2 months)or risk failing the iva.plus we were told that raising the 6000 in the 4th year was just an option however now were told its a must!.

after 8 years now its getting us down like you wouldnt believe,splitting up,divorce and suicide have all been on our minds just lately but blair and endersby dont care,give us no help and in our opinion would prefer our iva to fail......what we would like to know is can iva's be re-nagotiated or changed in any way??,B & E claim not but we would prefer someone elses opinion on the matter.could you help??
many thanks,
richard and wendy

[Sarah]

Hi Guys

I am sorry to hear of your problems! Is it the case that you have earnt this over what you originally stated in your agreement.... any overtime bonuses etc?

You are in the right place for help!

[MelanieGiles]

Your IVA can be amended with the agreement of your creditors - but you will need to show why your payments should be reduced. I am afraid that if you have earned additional monies in excess of the figures you declared in the IVA propsal, that these will need to paid over to your creditors. It might be possible to stagger these payments over an extended term if you have already spent the money.

[oggler2001]

hi sarah,
yes it is what we have earnt extra over what we originally agreed,however there figures dont match up,for example i(richard) am on an annual salary of just short of £26,000,i am unable to earn any extra as i am salary paid.but they have me down earning £27,500+,when i questioned this they stated that they work on a 13 month per annum basis???,how can that be if it clearly states on my p60 that i earnt only £25,840 for that year??.also everything has gone up dramatically as we all know and i have done 2 new incoming and outgoing statements showing that any extra that has been earnt has indeed gone straight back out in bills,food ect ect.
they on the other hand denied receiving any such statements and instead badgered us into making extra payments towards the iva,with the threat that if we didnt we could no doubt lose our home by causing the iva to fail.so we did and as a result now pay 230 per month.that was last year and now its starting all over again.....if they are disregarding the fact that we are paying out more then what are we to do???the iva is doomed to fail!!!.

Hi Guys

I am sorry to hear of your problems! Is it the case that you have earnt this over what you originally stated in your agreement.... any overtime bonuses etc?

You are in the right place for help!

[Sarah]

Hmmm this does sound odd i had something like this with the same company! I sent in new I & E form and they denied recieving it! I had hower kept proof of them sending me confirmation! So it seems to be their line! Just make sure you be storng as i know from experince you never get the correct person and i have asked questions before and have got 3 different answers! Try and speak to the IP direclty... i believe there is somewhere you can get their contact details! ** and as Melanie suggested try to come up with a solution! But just remenber to stay strong until you get the right peson (preferable your IP)

I hope this helps!

xx


**http://www.insolvency-service.co.uk/newipsearch.htm
added by admin

[Blair Endersby]

Richard and Sarah
Please email your queries to me directly and I will look into them.
Richard if you have any issues with the income review I can look into the figures used to ensure they are correct and explain them if they are or change them of they arn't.

[Sarah]

its ok mine is resolved now! and has been running smoothly since

[oggler2001]

thank you,i am currently in the process of re-doing our i&e's and will email them to you shortly along with other concerns we have.


[quote]Originally posted by Blair Endersby

Richard and Sarah
Please email your queries to me directly and I will look into them.
Richard if you have any issues with the income review I can look into the figures used to ensure they are correct and explain them if they are or change them of they arn't.

[Soulgrowth]

Richard and Wendy

Just wanted to say good luck and hope you find a solution ... good to see that BE looks to be on the case now.
[:)]

Debbie