Aperture are dragging us into 8/9 years of payments plus they received our PPI

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kim326
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by kim326 » Fri Mar 02, 2018 12:24 pm
This is complicated!, we started our IVA with Grant Thronton in May 2011 after loads of phone calls to them explaining no payments were being taken from our account and being told everything was fine we ended up in £ 3000 in arrears!!!! Great start! We were than transferred to Aperture and everything as gone smoothly so far until last years review we still waiting for a reply again monthly phone calls again told not to worry, told today that we should have had a mirage review to release any money and we face possibly another years payment this could take us into 8/9 years of payments plus they received £23.0000 of PPI compensation I DONT UNDERSTSAND PLEASE HELP
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Foggy
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by Foggy » Fri Mar 02, 2018 12:44 pm
Why did you end up £3000 in arrears ? You knew that the payments weren't being taken so you would have been able to make them manually, or in a lump sum rather than extending the IVA to make them up.

PPI being paid in is standard and does not reduce regular payments, but just increases the amount of your debt you manage to pay back.

Now --- the lastest 12 months extension will be in lieu of equity release ( which is all detailed in your paperwork ) which you agreed to do.
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kallis3
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by kallis3 » Fri Mar 02, 2018 12:54 pm
Don't forget you will always owe the full amount of your debts plus fees and possibly statutory .interest.
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kim326
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by kim326 » Fri Mar 02, 2018 1:15 pm
Foggy wrote:
Why did you end up £3000 in arrears ? You knew that the payments weren't being taken so you would have been able to make them manually, or in a lump sum rather than extending the IVA to make them up.

PPI being paid in is standard and does not reduce regular payments, but just increases the amount of your debt you manage to pay back.

Now --- the lastest 12 months extension will be in lieu of equity release ( which is all detailed in your paperwork ) which you agreed to do.


We were assured everything was normal ,never once asked for a payment over the phone ,with them being the professionals we were put at ease, we were never breached or failed because they took responsibility for this
Over the 7 years payments and the lump sum which we agreed to them claiming back we have paid our original debt ,by the time we sort a remortgage or a extra 12 months payments that could take us into year 8 possibly 9, all im asking is this a normal time frame :o
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Foggy
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by Foggy » Fri Mar 02, 2018 1:27 pm
kim326 wrote:
Foggy wrote:
Why did you end up £3000 in arrears ? You knew that the payments weren't being taken so you would have been able to make them manually, or in a lump sum rather than extending the IVA to make them up.

PPI being paid in is standard and does not reduce regular payments, but just increases the amount of your debt you manage to pay back.

Now --- the lastest 12 months extension will be in lieu of equity release ( which is all detailed in your paperwork ) which you agreed to do.


We were assured everything was normal ,never once asked for a payment over the phone ,with them being the professionals we were put at ease, we were never breached or failed because they took responsibility for this
Over the 7 years payments and the lump sum which we agreed to them claiming back we have paid our original debt ,by the time we sort a remortgage or a extra 12 months payments that could take us into year 8 possibly 9, all im asking is this a normal time frame :o


The normal time frame for a homeowner who does not remortgage is 72 monthly payments. Sometimes (often if NRAM are a creditor) this will be 84 monthly payments --- This has been stretched in your case by the period during which no payments were made.
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kim326
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by kim326 » Fri Mar 02, 2018 1:56 pm
Foggy wrote:
kim326 wrote:
Foggy wrote:
Why did you end up £3000 in arrears ? You knew that the payments weren't being taken so you would have been able to make them manually, or in a lump sum rather than extending the IVA to make them up.

PPI being paid in is standard and does not reduce regular payments, but just increases the amount of your debt you manage to pay back.

Now --- the lastest 12 months extension will be in lieu of equity release ( which is all detailed in your paperwork ) which you agreed to do.


We were assured everything was normal ,never once asked for a payment over the phone ,with them being the professionals we were put at ease, we were never breached or failed because they took responsibility for this
Over the 7 years payments and the lump sum which we agreed to them claiming back we have paid our original debt ,by the time we sort a remortgage or a extra 12 months payments that could take us into year 8 possibly 9, all im asking is this a normal time frame :o


The normal time frame for a homeowner who does not remortgage is 72 monthly payments. Sometimes (often if NRAM are a creditor) this will be 84 monthly payments --- This has been stretched in your case by the period during which no payments were made.


We are with NRAM couldn't understand this either as we never missed a mortgage payment but that's not a problem I hope ! So can I ask for a final end date do they have to tell me. ? just to give us something to work towards
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Foggy
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by Foggy » Fri Mar 02, 2018 2:20 pm
9 times out of 10 NRAM add on an extra year at the outset --- there is no reason for it other than they want more money back! The IP should be able to tell you how many payments are left to be made.
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