£2734 is the difference between your 85% LTV & outstanding mortgage although why they think this is correct is anyone's guess!
With Payplan I always found it useful to present them with the correct figures so they didn't have to try & work it out - also makes it difficult for them to disagree.
I got the impression most caseworkers were young without any real experience of finances - the only sensible answer I got in the last 12 months of my IVA came from their complaints department.!
Thank you Dancer --- I was trying to see where that figure came from -- I didn't think about going completely base over apex and see that they were trying to release the negative sum !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thanks Dancer - I can see where the figure comes from now - although why they should double the £2,734 to say there is £5,468 is even more confusing!As Foggy said I don't think I can release a negative amount so I have emailed Payplan asking them to confirm no equity release applies and will let you know how it goes.
What concerns me is the fact that there are probably lots of people without the knowledge and support this forum provides accepting figures because the big company says so!
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
I've been experimenting with something called duckduckgo and it may be duckduckgone at this rate.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
I assume they have doubled it as they think that both you & your wife have to pay that amount each????!
Should I be worried that I'm beginning to think like a 'Payplan' advisor? #128561;!
Last edited by dancer on Sun Apr 12, 2015 7:28 pm, edited 1 time in total.
Hi guys. Been on to Payplan who have now agreed no equity at 85% LTV, but say that I now have to look at 100% of house valuation ie house value £125,000 mortgage £109,000 so equity £16,000. My share is £8,000 and 85% of this is £6,800 and as over the deminimis of £5,000 I need to pay another 12 months. Told case worker and team leader that I don't agree and both confirmed my iva is in line with 2010 protocol, but got nowhere. Do I stick to my guns as this doesn't seem right or fair?
Stick to your guns and if need be seek legal advice.
The Protocol is there so everyone can understand minimum expectations.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
