Full & Final - Your Advice Please!

[Blue Job]

Hi Everyone.

I have a 36K IVA (44K of debt) @ £600PCM (paying at 64.1 pence) which is almost at year 1 end. I am due to retire from the RAF in 2 months and I will receive a lump sum of about 22K. Unfortunately, I have had no success at finding a new job and I live in military housing (which I have to leave once my contract finishes). I have tried (oh how I have tried!) to speak with my IP and he refuses to speak when I ask for advice on my IVA.

I was advised to have a single IVA by my IP's company. One of my debts is to Barclays Bank, but now they are now perusing my wife for the full amount, yet they are being paid via the IVA. I spoke to my IP, his response was "unlucky" and in another conversation he accused my wife of taking a loan (not true) and he sees no problem that my creditor will be paid double!

I need to move into rented accommodation in a couple of months (my rent will increase by approx £500PCM), I recently explained to my IP that I will be undergoing a big lifestyle change (no job, no home etc) and I got the usual, "call back when your status changes, but we will not look to adjust your payments!"

I wish to offer a full and final payment to my creditors. How do I do this? Must I go through my IP? Do you think that there are "hidden" charges I will incur? I have tried to speak to my IP, but as I said, he refuses to speak to me on this subject UNTIL I have the money and it's sent to him. He did then say that the money will then be paid to the stakeholders and will not pay off any of my debts! Of course, I am furious! Like most people, all I want to do is pay my debts, but all this company seems to be interested in is fleecing me out of everything I have or will have. I have tried to speak to the supervisor, but no joy there either. My IP persuaded me to take an advance of pay from my pension fund (£7500 (I lose £9000 of funds)), which I foolishly did (this boosted my lump sum up to £22K). He has now asked for my pension pot details (its ring fenced by the government and I know he cannot touch that). I have spoken to the National Debt Helpline and they have advised me to deposit my lump sum into a different account so my IP cannot get at it until I have an agreement. I am not trying to hide it, I just want to use it to be free of debt, not to fund this company's Christmas Party!

I have asked for complete clarity of their charges via a letter (copied to my MP). I have never revieved a statement from them and I am still getting calls and letters from my creditors. I guess from my post, it's fair to say that I do not have a good IP. My IP won't give me a simple answer about anything and takes an aggressive accusatory tone, treating me like an idiot every time I call.

Do you think that 22K will be enough? I could ask my parents for a small loan to boost that, but at my age asking mum and dad to bail me out at is quite embarrassing!

Thanks in advance for your help and advice.

[MelanieGiles]

This is a disgrace. Which firm are you with as the advive and support you are being given is astonishing. What made you pick this firm to represent you in the first place?

Your gratuity should have been excluded from your IVA within the proposal. I do this for all of my HMF clients, as that money is rightfully needed to resettle and retrain for civilian life. Was this discussed with your IP from the outset?

If you prefer not to mention details on a public forum, I would be very happy to discuss this with you on-line. I have been through retirement from HMF with my own husband, and I know how stressful this can be, without you haveing an unhelpful IP at the end of it.

[Skippy]

Right, I'm getting on my soapbox now! I find it disgusting that anyone, IP or not, would speak to one of their clients in that way. It seems to me that they are being deliberately obstructive, and perhaps they need to stop and think that they are dealing with real people and their actions affect their lives.

Blue Job, I hope you can get this sorted out, and if you don't want to discuss this on the forum I would take Mel up on her offer.

Good luck x

[Blue Job]

Hi Melanie,

Thanks for your reply. I have sent a message to you through your website.

regards,

Blue Job

[kallis3]

You have had appalling treatment Blue Job.

I hope Mel can help you out.

[MelanieGiles]

I have the e-mail and I will respond to you over the weekend Blue Job.

[plasticdaft]

Can we please do the right thing here and name the company on the forum as this is disgraceful behaviour. I am also ex RAF but waited until I left to sort our my debts as I was too scared as to what my superiors would say!!!

Paul

[Shining]

Hi I'm sure Melanie will give you 1st class advice and I hope all goes well for you xx