IVA charges

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liz854
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by liz854 » Tue Dec 19, 2017 8:36 pm
I owed £46 000 pounds and was made bankrupt my account introduced me to a company who said they would set up an I v a I have paid approx £37 000 the company say I still owe £46 000 help they are changing me £37000 as cages over a 2 year period
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Foggy
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by Foggy » Tue Dec 19, 2017 8:50 pm
If you were made bankrupt you would not need an IVA --- do you mean you became insolvent ?

While in an IVA you always owe the full original debt, plus fees and possible statutory interest .... when you get to the end, anything unpaid is written off.

How long have you been in the arrangement and how much do you pay per month ?
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kallis3
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by kallis3 » Tue Dec 19, 2017 10:47 pm
Check the Insolvency Register to see if you are bankrupt before doing anything else.
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Lisa Thomas
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by Lisa Thomas » Wed Dec 20, 2017 9:57 am
I presume you are planing on putting the IVA in place and then looking to annul the Bankruptcy?

Is this because you have assets to protect that you will lose in Bankruptcy?

Their charges cannot be £37k for one IVA - I think you are perhaps confused somewhere. Do you mean they are suggesting you make payments, or introduce assets to the value of £37k over 2 years?
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liz854
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by liz854 » Wed Dec 20, 2017 9:03 pm
I was made bankrupt and the iva was put in place to anull it the iva was for 1 year I was making monthly payments and was to find the balance from the sale of my home which was a bit strange as that was what I was trying to save the iva company said to get equity release coming to the end of the year I still hadn't released equity as it was taken so long so my iva was extended for another year I that yeare I managed to sell my buiness and put in another £10 000 in to my iva I also received my private pension and was told I had to surrender this as well which I did and also had some more money through another sale which was put into my iva I asked how much I needed to pay and was told that I needed still to find another £45 000 which ment that the £37 000 I had paid was being taken to pay cost to the iva company l couldn't get equity release so have sold my home sale now going through
I was soo upset as I thought I was nearly there I hadn't contacted this company my accountant introduction them to me so I trusted them and him but I have found out that he works for them as well
This has been such a destressing time for me as during this time my mum died and I have now found out my husband is very ill and we don't know how much longer he will live this has been the worst time of my whole life
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kallis3
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by kallis3 » Wed Dec 20, 2017 10:29 pm
I am finding this very odd. Which company is it?
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Lisa Thomas
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by Lisa Thomas » Thu Dec 21, 2017 3:39 pm
Trying to understand what has happened and it sounds as if you were bankrupted.

An IVA was put in place so the IVA was annulled.

You thought the property was protected but your IP firms says you had to sell the house as part of the IVA terms?

What did you terms say, if you think you got to keep the house what other assets were you offering?

I'm wondering if this is all about an equity/extension clause...?

I may need to look at your IVA to try to help you.
Last edited by Lisa Thomas on Wed Jan 03, 2018 3:17 pm, edited 1 time in total.
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kallis3
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by kallis3 » Thu Dec 21, 2017 3:41 pm
Did you check the Insolvency Register?
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liz854
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by liz854 » Thu Dec 21, 2017 8:03 pm
kallis3 wrote:
I am finding this very odd. Which company is it?

A company called Abby Taylor
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jonathah
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by jonathah » Thu Dec 21, 2017 8:57 pm
Almost certainly this lot

http://www.abbeytaylor.co.uk/

Insolvency practioner of the year 2013

Well.......
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kallis3
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by kallis3 » Thu Dec 21, 2017 10:15 pm
Have you checked the Insolvency Register?
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liz854
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by liz854 » Fri Dec 29, 2017 6:39 pm
jonathah wrote:
Almost certainly this lot

http://www.abbeytaylor.co.uk/

Insolvency practioner of the year 2013

Well.......

what do you know about this company all info would help
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kallis3
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by kallis3 » Fri Dec 29, 2017 10:24 pm
I know nothing about them hopefully someone else can help.
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Lisa Thomas
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by Lisa Thomas » Wed Jan 03, 2018 3:18 pm
I still don't understand what we are trying to help you with or what has happened as you have not answered my queries.
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kallis3
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by kallis3 » Wed Jan 03, 2018 4:20 pm
Again, have you checked the Insolvency Register?
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