How is this right ?

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Andyd1015

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Joined: Fri Aug 26, 2016 6:13 pm
Post by Andyd1015 » Fri Aug 26, 2016 6:13 pm
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Hi,I entered in to an Iva 6 years ago, forced to take a 9 year term due to my occupation. It was sold on to another company where my fees have increased massively. Stated a maximum of £7000 on the Iva now with the new company its 25% of the total. I never asked to move company's, it was forced on me by the company. I've worked hard to pay back 100 p in the pound, then been kicked in the teeth for doing that. I would have been free this summer but now have a few thousand extra to pay, how is this right?
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Foggy

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Post by Foggy » Fri Aug 26, 2016 6:47 pm
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OK -- they cannot increase fees without yours and the creditors agreement -- did you sign an agreement to this effect ?

An increase in term due to occupation is not at all common ( in fact I have never heard of this before).

Also, even if the fees have increased legitimately, that will not extend the IVA -- it has a finite term detailed in the proposal.

Is it definitely an IVA you are in ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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