I started with a debt management plan with a certain company. Not long after beginning the plan I was continuously bombarded with phone calls about changing the DMP to an IVA, it caused so much stress that I agreed to the change just to stop the phone calls.
During the fourth year of the IVA I got a large ppi refund which was double the amount required to pay off all my creditors, the IVA company's then took the rest of the money in charges and left me with next to nothing then really dragged their feet in issuing the certificate of completion.
If I had continued with the DMP my creditors would have been totally paid off within the five years anyway and I would not have lost over £8000 of the ppi refund.
I would like to know if I can do anything about it and make a claim for misselling of the IVA.
Under the DMP I would have paid the lit off in 60 payments / 5 years.
The ppi refund would have cleared the total original debt with around £8000 left over, but I would have made at least 36 monthly payments by the time I got the refund.
I honestly believe that I was pushed into getting an IVA instead as the company knew they would be able to take a lot of the money for themselves if any ppi claims was successful, I cannot think of any other reason why an IVA would be better than the original DMP.
I was aware that I had had ppi in the past and had I claimed it myself I would have cleared the DMP early and not lost the remainder to someone else who had done nothing more than fill out a few forms to claim it , something I could have easily done myself.
It's also that they would not take no for an answer as to going into an IVA instead of continuing with the DMP.
Who is onlineUsers browsing this forum: No registered users and 19 guests
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, IVA.com Group Limited will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location