Have I paid too much into my IVA?

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tracy302
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by tracy302 » Thu Feb 08, 2018 8:47 am
I have paid £38.000 back towards my debt with Grant Thornton /apeture...
Yet only 12.000 has been paid to my debtors this is the 8th yr of being on the IVA. The rest of the cash I'm told is charges. Does this sound right? I'm very distressed!!
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kallis3
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by kallis3 » Thu Feb 08, 2018 9:07 am
Hi,

Why is your IVA over 8 years? Are you sure it's not a DMP?
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Foggy
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by Foggy » Thu Feb 08, 2018 9:07 am
Being in the IVA for 8 years needs some explanation too -- normally it is 5 or 6 years.

Those fees / charges do seem on the high side --- check your paperwork where the amount they get paid will be detailed ( usually in the Chairman's Report of the initial meeting). Ask for a detailed breakdown.
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Lisa Thomas
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by Lisa Thomas » Thu Feb 08, 2018 10:18 am
Are you sure you're in an IVA?

Why was it for 8 years? When is it due to finish?

Those costs do seem high for a 'standard IVA' but it doesn't sound like that is what you have and without knowing the level of work that was carried out it's difficult to comment.
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tracy302
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by tracy302 » Thu Feb 08, 2018 11:08 am
This is an on going dispute. That's why I'm asking questions I think that £26.000 on charges and only £12.000 has gone towards the debt. This was after the 6 yrs and we are still waiting on closure.

We have been passed through at least three companies I can remember.
Thanks for the help guys
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kallis3
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by kallis3 » Thu Feb 08, 2018 12:00 pm
Is it definitely an IVA? Have you checked on the Insolvency Register?
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