Is this normal practice in an IVA

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by trudy955 » Wed Sep 05, 2018 1:01 pm
We have been in an iva for 4 1/2 years and paid every month also they had £ 6000 from a ppi we got we owed approx £18000 and after the 5 years we will have paid appr £24000 back i have asked for a statement stating what money has gone to who but they have never returned my request can you tell me if this is normal practice or do I need to take this up with a solicitor? ? We are with debt focus
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Forum Expert
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by Foggy » Wed Sep 05, 2018 1:07 pm
You should have got a statement of account after every annual review and most firms will give you one on request.

Looking at your debt -- to clear the debt and fees would take around £22k - 23k and then there would be statutory interest, which would amount to around just over £6k.

If they are not responding you need to lodge a formal complaint ---- write to your IP directly, using recorded snail mail --- which you can escalate to their regulatory body via the Government Gateway, if no joy.
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Lisa Thomas
Industry Expert
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by Lisa Thomas » Wed Sep 05, 2018 1:42 pm
Their annual progress report should include a receipts and payments schedule so the answer will be in there.
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