Urgent advice needed...
Please could anyone advise I entered into an iva in my sole name in August 2007 included was a joint account overdraft from Lloyds for £2900, as it was a joint account my IP advised my hubby to make regular payments into this account so this as agreed with Lloyds and he paid monthly payments of between £11 - £15 per month for the duration of the iva and continues to do so, the iva was settled early by full and final settlement in aug 2011.
Lloyds continue to demand money they refuse to freeze interest and this has never happened, no iva payments via my IP ever show on the statements and no recognition of the full and final occur, I've wrote, phoned a million times to no avai, and then today we have a letter to say the debt has been sent to a debt collections agency, my name continues to appear on all letters, I've been told my husband is liable for the whole debt but surely the iva would clear part of it and since I have now settled shouldn't half the debt be cleared ?? Lloyds are now stating we owe over £3000.
There must be some solution to this, my iva will be cleared from my credit report this August as it hits the 6 year deadline, yet this issue continues, please can anyone advise..
Hi. The joint debt is still payable in full, less any dividend the IP paid during the IVA and payments made to date by your husband. With a joint debt an IVA gives no protection to the party outside the arrangement.
Ask your IP for a breakdown of what was paid to Lloyds and ask Lloyds to deduct this from the balance.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thanks that's the point I continue to attempt to raise with Lloyds but they will not provide a breakdown I was told 2 weeks ago the legal department were looking into it.. We will pay the remaining balance but they are not taking into account any of the money we have paid via iva or token payments.. And still continue to do demand the full amount!!!
Get the breakdown from your IP, give the legal department another couple of weeks to respond ( so 28 days in total) then tell them you are referring the matter to the F.O.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
