Hi, I'd really like to hear from anyone who feels they have been mis-sold an IVA.
Like most people when I went into the IVA it was desperate times, I couldn't afford payments and had a young child to bring up, 6 years ago, the banks didn't care about responsible lending, I asked for a credit card for xmas shopping and was given a 10k limit even though I only earned 22k!! Then a loan to consolidate that approved, then I re spent the credit card...its goes on!....Of course it was my fault and no one else's, my partner left me high and dry with nothing in his name, and I felt Id let myself down and my child for being so silly! Then IVA answer to my dreams, my employers didn't need to know, I wouldn't loose my flat, debt free in 5 years, I even thought I was clever looked into the down sides, asking questions, I knew even though it would last 5 years it would effect my credit history for 6 years when all clear, I knew I might have to take equity out of flat if enough but after that I wouldn't have to disclose to anyone Id ever had an IVA, the company was great, wrote the statement for me, arranged everything, 5 years perfect, not one issue, I always did everything they asked and I even thought how amazing the company where....
Oooh until year 5-6 comes along and then you find out the extent of what you have done! I finished my IVA in year 5, not enough equity, i was crying with happiness telling the IVA company how amazing they are and was told bit of admin and my c-certificate would be in post! I've never been happier, then I get a letter NOV 2013 advising that PPI now needs to be done and they are extending my IVA for a max of a year to do this, I did think why haven't you started this before now but as I knew it would be on my credit file for 6 years didn't worry too much, enjoyed having some extra money each month and had a lovely Xmas, don't get me wrong I am grateful for those 5 years of no stress even though it was hard, I have always worked, I then met someone after the stress of 5 years was off me and we want to move but over 6 years later I still don't have my certificate as one of the PPi companies decided to set off money so I can't have it till that's sorted out! My original report states nothing about set off only PPI and says they can only extend up to a year if I had equity in my flat which I didn't! In the extension report of a year it advised a max of 1 year which is well over now.
Yet apparently only I have to abide by that legal document and I have to wait till the set off is sorted out with the financial obusman and the banks! I should of gone bankrupt if is known all of this, yes I would of lost the flat but I would of been stress free a long time ago and not depressed, How long will this take I ask! They don't know! I could be in this for years to come!! Also reading comments on here I see you do have to tell people you've had an IVA if you want a mortgage!! Hang on when I asked this 6 years ago I was told once those 6 years is up no one will ever need to know is what I was told!!
I think there are loads of people in my situation, who have abided by the rules, done as asked and now over 6 years later being held up by PPi or like me PPi completed but one creditor has set off! I really feel like I have been misold my PPi, all I actually want is my completion Cert, I feel they need to have more regulations in place, once you have done your time that's it, Your IVA supervior should be completing the PPi claims before 6 years if they fail to do so then it needs to be on their heads, Completion Cert needs to be given wether they have finished or not! Nothing was in my original report about it going over 6 years so why are they! Please contact me if you also feel you have been mis sold an IVA
