www.iva.co.uk

We have been in an IVA with Knightsbridge for the past 3 years and have never missed a payment. We have just receieved a letter staing we are in breach of our IVA as we havent sent in an RX1 form for them to register their interest in our property. WE assumed that this had all been done at the start of the IVA as we remember filling in the forms. How come it has taken them this long to realise that the charge has not been registered, surely we are not in breach of our contract as it is their mistake. We have paid £4,320.00 of our agreed terms of £7,200.00. This leaves £2,880.00 expected to be paid over the next 2 years. Is there anyway we can pay the outstanding debt off and get out of this contract as several times Knightsbridge have "lost or not received correspondence from us".

Hi and welcome,

I would challenge Knightsbridge over this - it could be an oversight on their part.

If you could raise the money you could offer a full and final payment - where would the money be coming from?

As regards correspondence, the best way to deal with it is to keep copies and also send things recorded delivery.

A notice of breach isn't an actual breach, but a heavy handed invite to put things right. Tell them you have returned an RX1 already, if they have lost it they are welcome to send you a replacement to sign and return ( signed for).

3 years to discover they have misplaced your RX1!! Simply get them to send another to sign.

Not exactly confidence inspiring.

Paul

Hi, as others say, challenge them and invite them to send you another form to complete, maybe return this one recorded. A little heavy handed for a first communication in my opinion.

I agree - make a complaint and offer to sign another one if they send it to you.

To answer you original post - if you have a third party willing to gift you a lump sum you could put forward a F&F settlement offer to finish your IVA/s early.

This won't help repair your credit rating any sooner but will give you control over your finances again.