Incompetence by IVA company
Posted: Fri Feb 05, 2021 5:06 pm
Hi
My IVA was due to end in October 2019, when it got to a month before the company told me I had to pay an additional 12 months, to be honest I didn't understand all the jargon but they said it was to do with equity in the property and pence in the pound. I paid this off and completed in October 2020. Last week I called the company to push for a completion letter as I still hadn't received anything and they had said it takes 6 weeks. I got a frantic phone call saying there had been a mess up and I wasn't supposed to pay anything as my IVA had been capped - I've now been refunded the whole final years payments. This is great and an unexpected bonus except I'm now a whole year behind in getting my credit rating restored through their incompetency and I still can't upgrade my bank account, mortgage etc. I'm fuming as I questioned it at the time and was told this was what happened - how can a professional IVA firm make a huge mistake like this? I've basically missed out on a whole year's worth of interest if I had saved the money instead of them taking it off me for nothing and leaving us struggling as a family for a further year.
My IVA was due to end in October 2019, when it got to a month before the company told me I had to pay an additional 12 months, to be honest I didn't understand all the jargon but they said it was to do with equity in the property and pence in the pound. I paid this off and completed in October 2020. Last week I called the company to push for a completion letter as I still hadn't received anything and they had said it takes 6 weeks. I got a frantic phone call saying there had been a mess up and I wasn't supposed to pay anything as my IVA had been capped - I've now been refunded the whole final years payments. This is great and an unexpected bonus except I'm now a whole year behind in getting my credit rating restored through their incompetency and I still can't upgrade my bank account, mortgage etc. I'm fuming as I questioned it at the time and was told this was what happened - how can a professional IVA firm make a huge mistake like this? I've basically missed out on a whole year's worth of interest if I had saved the money instead of them taking it off me for nothing and leaving us struggling as a family for a further year.