Issues with IVA company

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alan588

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Post by alan588 » Mon Dec 03, 2018 12:20 pm
Hi, I have an iVA with a provider, CD Fairfield,the main point of which was to negotiate a reduction in the second charge Mortgage Trust have on my home and rental properties. CD Fairfield have put an IVA in place and insisted we evict our tenants, which we did despite misgivings about our ability to pay the mortgages however the 'knew best'. Because this lack of income nearly resulted in bankruptcy, we took two properties back and have now rented them again. CD Fairfield will not negotaiate with Mortgage Trust until all houses are sold, and thsi will not happen for a few years yet. I have paid about 25-28k to the IVA escrow account for the unsecured debtors which will not be settled with them again until all houses are sold, so I want my money back in my pension SIPP from whence it came, will this be ok without jeopardising the iVA?

Thanks

Alan

Foggy

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Post by Foggy » Mon Dec 03, 2018 12:34 pm
Your IVA agreement is far from standard and you would have to talk to CDF about this.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

kallis3

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Post by kallis3 » Mon Dec 03, 2018 3:44 pm
Sounds odd to me.
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.
http://kallis3.blogs.iva.co.uk
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