www.iva.co.uk

We finally got a copy of our credit agreement with GE Money, of which the debt has now been passed on to Link, and I noted that it has not been signed by anyone on their behalf. We recently had a Final Charging Order for the debt of roughly £5k but are worried about the interest of 20% being added, which prior to our hearing, Link said it was, yet their rep at the court said our balance had been going down(the interest means our debt will increase given the amount we can afford). Phoned link and they again said interest was being added.
Any advice?

Hi,

I can't help with the answer to your question, but didn't want you to think you were being ignored.

None of the professionals have been around tonight, hopefully one of them will be on tomorrow and and be able to assist you.

Are you in an IVA? If so why is interest still being added???

Given that you have said you have finally got a copy of a credit agreement and its not been signed by anyone on their behalf I take it you are trying to avoid your debts by claiming your credit agreement is unenforeceable??

We aren't trying to avoid our debts, I just want to see if I can stop them charging interest which will mean our debt go down instead of just increasing. We are in a DMP, but this is our 1st and hopefully last CCJ. Our house will need to double in price before Link would get a penny.

What comapny are running your DMP? Have all others stopped interest??

Hi
Have you agreed payments with GE Money ? If so your DMP payments should reduce by this amount so that you are on paper no worse off. Try to agree repayments that cover any interest charge
Regards