I got forced in to an IVA

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mayt
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by mayt » Mon May 21, 2018 9:12 pm
I got forced in to an IVA and tried to quit out of it. The person who took my details made me put that my wife and children needed a taxi and that some debts were higher then they was. Also one of the debts I owned I had to pay £700 to a debt collector so I thought I'm not going to do it no more. Anyway, IV sorted my debts my self and thought it was about time for a new car but now the IVA is still on my credit report I rang them and told them I was put in to a IVA under fake circumstances put under by the person who set it up. What can I do considering I didn't pay nothing it to it and now it's a year later
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luluj
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by luluj » Tue May 22, 2018 4:46 am
If you feel that you were mis sold your iva then you should first put a complaint in with your iva company. Should you feel thdt this does not resolve the issue then the next stage would be a complaint to the ombudsman.

However .... you clearly knew at the outset that the expenditure listed was fabricated somewhat and therefore they may say you had the option of not signing your proposal or agreeing to your iva at the chairman report stage.

I am not sure you will gain anything in making a complaint.

You say you have now "sorted" your debts - can I ask how ?
Have you paid your debts in full to your creditors or via your iva company?
Have you received a completion certificate ?

Sorry for all the questions but would need some more clarity.

Your iva will remain on file for 6 years from its start date and therefore will show up on credit reports.
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kallis3
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by kallis3 » Tue May 22, 2018 7:39 am
I agree with luluj.

Can I also ask which company it was?
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Foggy
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by Foggy » Tue May 22, 2018 8:18 am
Unfortunately, without a potentially very expensive court case, you are stuck with the IVA being on your credit records for the full 6 years from the start date. As has been mentioned, you would have had the opportunity to correct any errors in the I&E and paying this creditor £700 is something you should not have done, if they were included in the IVA and cannot be blamed on the IP.

Sometimes things are claimed for, not because we do spend it, but because we might have to spend it! For instance, when we went into our IVA's we were both working at different ends of town and had one car. This meant that one of us might have had to use the bus, although we didn't use it regularly we accounted for bus fares in our I&E, because we needed the money to be there in case we needed the bus. We claimed £56 but the creditors halved it at the meeting to £28 --- we were claiming for something we might have to spend, but might not, so the creditors compromised ---- nothing illegal or untoward, simply common sense forward planning.
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