Have I paid too much into my IVA?

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tracy302

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Post 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!!

kallis3

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Post 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?
http://kallis3.blogs.iva.co.uk/
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.

Foggy

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Post 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.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Visit my blog here : http://foggy.blogs.iva.co.uk/

Lisa Thomas

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Post 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.
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

tracy302

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Post 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

kallis3

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Post by kallis3 » Thu Feb 08, 2018 12:00 pm
Is it definitely an IVA? Have you checked on the Insolvency Register?
http://kallis3.blogs.iva.co.uk/
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
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