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Posted: Sun Nov 06, 2011 2:02 pm
by glassman49
just an update on my earlier postiing regarding my notice of breach from ---.well i got to the bottom of why it had been issued due to the inclusion of our repossesion shortfall and our secured loan becoming unsecured.so i got a phone call from --- saying our payments were going to more than double.i told them i could not meet the repayments they were asking for for and was then asked what could i afford which seems very odd to me.i told them i thought it would be better for me to go bankrupt at which point they magically knocked over £250 pm off the repayments my question is this normal practice.

Posted: Sun Nov 06, 2011 2:16 pm
by kallis3
Was Declan not able to help you at all glassman? Sorry you've had so many problems but I can't assist with why they changed the payment details. This is something you will have to sort out with them.

Posted: Mon Nov 07, 2011 1:15 am
by MelanieGiles
Surely this will need the terms of the original IVA to be varied, if the dividend now available to creditors has substantially reduced?