www.iva.co.uk

Just had a call from freeman jones and we had a chat about when our iva ends which is 9th July but with one payment holiday it is 9th August,then to be told we owe 4200 pounds in extra wages.To say this was a kick in the wotsits is an understatement,I knew I owed some but not that much.But hey ho life goes on,I wish they told us sooner [V]

But she said there is some good news we have no equity in our house

FJ seem to have a habit of doing this - how could they get the annual assessment so wrong each year?

Where do they get that extra figure from? Is it just the payment break?

No kallis the payment break was one payment,never thought to ask how they came to that figure mind you in almost 65 months I must have had about 20 relationship managers maybe they will send a breakdown.
Also she said when asked why nobody ever got in touch about it,she replied it was because our iva was going along so well

Unless your payments were that amount then I would query it!

Any idea how I should approach in asking for a query on it,like what should I say and should I ask for documents to back up their claim.
It does seem they could say anything and I have to pay.
I wonder if anybody from freeman jones posts on here

Just ask them where they get the figure from. FJ do pos on here so you can contact them via the 'Ask an expert a question' link on the left hand side of the page.

Thank you kallis never thought of looking there lol

Some companies see it as part of their remit to financially rehabilitate people in IVA and ensure that going forward we are equipped not to repeat the mistakes of the past.

If that is the case then it is reasonable to expect something to be put into writing including 1) how they arrived at the figures and 2) why the arrears occurred given that they were doing annual reviews.

The explanation given to you by FJ seems more to suggest that someone has fudged something.

I would be asking for a full breakdown in writing as to how they came to that figure.
Like others I would ask why this has not been dealt with at the annual review stage each year.

Have you completed regular overtime during your iva?
If so, have you declared it as you have gone along or just at annual review stage?
What does your iva proposal state about extra income ..we had to declare monthly and pay the extra monthly ..that way no nasty surprises.

Let us know how you get on.

I don't get this! We are with fj and have always had our 6 month and 12 month review done as expected. I have always sent every pay slip in as required. Although we have had a few different relationship managers. Every time I have spoken to them at review time I have always asked if it's all up to date and often being praised for how well we have done. Our first payment 5 years ago was £180, over the years it has increased to £422. We are in our 6th year due to equity and having read our year 5 report last night our dividend has gone from 38p in the pound to 66p in the pound. Hopefully I don't get any surprises! Good luck. We are so close to the finish line!

Hi Watzki,

My name is Ian Williams, I am one of the team here at Freeman Jones.

I am sorry that we haven't communicated very well about this. Please do drop me an email to ian.williams@thinkmoneygroup.com and I will ask the team to give you a full breakdown of how the additional monies were calculated.

Thank you,


Ian

Thanks Ian ,I have been on the phone this morning and spoken to holly (who is a credit to your company may I add,very pleasant and helpful)she is going to ring me tomorrow.

Hopefully Ian will sort this for you so your wotsits can start mending.