Can I trust Aperture?

[angela426]

Can I trust Aperture? Original IVA with DFD and taken over by Aperture. We have completed 5 years and they are demanding money. More details can be provided.

[Foggy]

Yes, you can trust them to a point, but they can be frustratingly slow, uncommunicative and unhelpful. They also have their own interpretations of some of the standard terms which, although legal, are more avaricious than they need be. Are they asking about equity release ?

[kallis3]

Aperture are a trusted company but, as Foggy says, their communications are not good.

[angela426]

Completed scheduled payments in Nov ‘19. Aperture did not contact us several months prior to end date.We had to contact them and ‘remind’ them we needed our end review. When we speak to them we got someone different who seems to be reading from a script. We had a statement stating we were £500in credit. Since then been told various things.
We owe £9600 and can pay it in one lump or in 12 month instalments. We don’t have that amount of money and if we did would it be seen as a sort of windfall anyway.
We are arrears and need to apply for Bankruptcy- not at all helpful seeing as we have stuck to the five year agreed plan and ticked all the boxes.
Twice we have submitted all requested documentation for them to review our account.
We have paid 69% of the debt via our monthly payments - the rest has been met by PPI reclaims. Told by a member of staff over the phone on average people make about 52% of total payments so we have done ‘better then most’
Recently requested a statement and it seems we are being hit with £20000 admin fees which is one third of the total debt.
No equity in the house.

[angela426]

Completed scheduled payments in Nov ‘19. Aperture did not contact us several months prior to end date.We had to contact them and ‘remind’ them we needed our end review. When we speak to them we got someone different who seems to be reading from a script. We had a statement stating we were £500in credit. Since then been told various things.
We owe £9600 and can pay it in one lump or in 12 month instalments. We don’t have that amount of money and if we did would it be seen as a sort of windfall anyway.
We are arrears and need to apply for Bankruptcy- not at all helpful seeing as we have stuck to the five year agreed plan and ticked all the boxes.
Twice we have submitted all requested documentation for them to review our account.
We have paid 69% of the debt via our monthly payments - the rest has been met by PPI reclaims. Told by a member of staff over the phone on average people make about 52% of total payments so we have done ‘better then most’
Recently requested a statement and it seems we are being hit with £20000 admin fees which is one third of the total debt.
No equity in the house.

[Foggy]

You say no equity in house -- has this been agreed by Aperture ? Have they done a valuation vs mortgage redemption exercise?
What is this £9600 in relation to ?
Those admin fees are not right either.

I think -- and I am making great assumptions here:

There is, by Aperture's reckoning, equity which needs to be released and the 12 months is in lieu of releasing said equity. £9600 ?? is that 12 months payments ? Are you paying £800 a month ?

The admin fees -- when all is said and done will not need to be paid by you -- this is just the amounts that would be payable if the debts were not, in part, written off.So -- all they are asking for is 12 extra payments, as per the agreed terms.

Now -- the threat of BR --- this is because you have made no payments since November, and 3 missed payments can mean the failure of the arrangement. Hopefully you can still head this off.