A loan to pay off fees?

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iain200

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Post by iain200 » Thu Jun 06, 2019 8:59 pm
Good evening.
My IVA started in 2012 and was for six years. It was for 28000 I have paid back this amount. I am now being asked for £12000 in fees for my IVA company. They have appointed a company to get me a loan but this has ridiculous interest rates meaning my debt will cost me around 60000.
My IVA has dropped off my credit file now.
Please help I don’t know what is happening. I complained to my Iva company in February but have had no answers?
What’s going on

Foggy

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Post by Foggy » Fri Jun 07, 2019 6:50 am
Was your IVA completed ? Did you get a notice of completion ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Lisa Thomas

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Post by Lisa Thomas » Fri Jun 07, 2019 8:25 am
IWe cannot tell you what is going on as we do not know what has happened.

Normally any debts and costs unpaid at the end of the term will be written off so it does not make sense that the IP's would be asking you for extra funds at the end unless there are extra assets available.

It sounds to me like perhaps you have enough assets to pay the creditors, interest and fees off in full settlement but I am unsure.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

Lisa Thomas

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Post by Lisa Thomas » Fri Jun 07, 2019 8:26 am
Perhaps the loan you are referring to is the secured loan option in relation to release the equity in your property at month 54?
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

MerlinL14

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Post by MerlinL14 » Fri Jun 07, 2019 8:27 am
All fees should have been recovered via your monthly payments? Are you sure that the demands for fees is from your IVA company, legitimately. Is this for fees or in lieu of equity on your house?
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
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