I don't understand why my IVA is being extended my Aperture when there is no equity

[Oldhack]

I received a letter from Aperture today that because I can't remortgage my IVA is being extended for 12 months; while I know this is in the agreement, I don't understand how if there is no equity on the property (which there isn't) that, as set out in the terms of the agreement, the property is excluded and the term doesn't have to be extended. Am I interpreting this wrongly? Would appreciate being put right, please!!!

[lifenoteasy]

If you have demonstrated that there is no equity it cannot be extended.

Complain immediately stating you expect them to abide by your agreement terms.

[kallis3]

I take it you sent in valuations for the property? Aperture do have a habit of using Zoopla for online valuations which are always higher than a local one.

[Michael Peoples]

Ask them for a breakdown of their calculations and if necessary produce your own. You may need to instruct your own valuer but this can be a cost of the IVA and well worth it anyway.

[lifenoteasy]

Have noticed you also posted under social chat - by any chance is your mortgage with NRAM?

I understand if yes they tended to make the iva last longer.

[kallis3]

If it is NRAM then they usually insist on the extension when the IVA is agreed initially.

[longslog101]

double check your chairman report and see what the terms of your IVA actually say and if there are any variations and then ask for the written terms which state it may be extended and how they have concluded that the criteria for extension have been satisfied.

There is a template letter idea to give you an ideal in my blog, but all depends on what your actual agreement & chairman's report & any variations state.

[Oldhack]

have been on the phone with an Aperture customer service advisor for almost an hour; the extension terms were varied when they took over from Money Debt and Credit. So I'm stuck with it for another 12 months after the original closure date of June 2016. They blame everything on the creditors... Now trying to find out why a PPI comp cheque they were sent appears to have disappeared into the ether...Marvellous. Thanks for all the reponses.

[kallis3]

You should have been told about the variation at the time - I would certainly make a complaint about this.

[lifenoteasy]

Agree with Kallis3.

[Oldhack]

According to them, when they sent out notification Aperture (then Grant Thornton) had 'taken over' from MDC, variations were included and it would seem they have a record of me agreeing to that. It was over 2 years ago, so I have no recollection of what was in the correspondence and while I keep all my IVA related correspondence filed together, I have been unable to locate the docs they refer to. I am going to have to go with what their records indicate.

[lifenoteasy]

Ask for a copy of the record that they hold.

[Oldhack]

Thanks, lifenoteasy!

[longslog101]

Hi Oldhack,

like lifenotsoeasy says, you definitely don't have to do that, you can ask for written proof of what you signed and agreed to, the owness is on them to demonstrate this and secondly if you did indeed sign something of which they did not clearly bring the changes to your attention then you can complain about this.

Grant Thornton (now APerture) are known for trying this sort of stunt and being hung out to dry by the regulators for all sorts of things, so don't just accept it you wouldnt give a stranger knocking at your door 12 months extra payments so why give it to them if you're not legally or contractually bound to ! challenge it and do it all in writing so you can forward to the insolvency service and the regulators if needs be, it wouldn't be the first time they are wrong !

Here is a thread with their complaints procedure, escalate it all the way to risk and compliance (in writing)

GT COMPLAINTS http://www.iva.co.uk/forum/topic.asp?TO ... hichpage=1

What the insolvency service says about someone changing your IVA terms and who to contact:http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=72957

[lifenoteasy]

If they are reluctant state making a subject access request under the data protection act 1998.

Maximum that can be charged is £10, 40 calendar day response time.

Specifically narrow the request to any and all records to the transfer period and what was specifically sent/signed by you.