Our IVA ran for 63 months due to an agreed ‘pay holiday’. The final payment was made in September this year. No contact re either remortgaging or ‘extension’ had been made as required by IVA t&c’s. I called end of September, and after our final contracted payment had been made to ask a general question. Only then did they realise that no contact had been made re either the remortgaging or extension. Failing to act in line with your agreement constitues ‘breach of contract’ which I stated to them. In case of a breach of contract the contract is deemed invalid!
Also, according to the document on IVA ‘general rules’ if they wanted to extend it, they have to send you a ‘notice of extension’ detailing its t’c’s AT LEAST A WEEK before the final payment is due.
They have failed to do it.
If you received no communication from them re remortgaging in ‘month 54’ you can challenge them that they were in breach of contract with you.
Check you final year IVA report to creditors re ‘duration of IVA’. And, if you haven’t heard from them re the ‘extension’, and received a detailed written ‘notice of extension’ at least a week before the final payment is made, they cannot be in a position to request extension. Clearly, that can’t be done AFTER the ’contracted payments’ have run out.
The IVA Report to creditors of earlier this year clearly stated it was a ‘63 months IVA’. No indication on intention to extend the arrangement.
We stopped the payments after the final ‘contracted payment’ had been made. They have allegedly called a creditors’ meeting to propose the closing of our IVA. I insisted on attending the meeting which they refused to grant me despite the fact that the docs prepared for that (virtual) meeting said I could request to attend it! Then the meeting was, allegedly, ‘adjourned’. In the meantime, I received an email stating they had ‘added a new creditor who claimed £0.00’ to my file! Two months after we had made our final ‘contracted payment’! And, the creditor we had never heard of!
I emailed to enquire and was told it had to be added for dividend purposes, but would not affect the closing of our file which is in the process of being closed.
Then, two days later I received a phone call re the alleged ‘creditors meeting’. The guy calling from overseas, stated that the ‘creditors wanted us to continue the arrangement’! When challenged to say which one voted for ‘extension’ guess who he said it was! The very same one which had been ‘added’ to our case only a couple of days earlier for ‘dividend purposes’, and who claimed £0.00! I only realised that after the phone call, and when I checked the email talking about that ‘new creditor’!
I told them we had received a confirmation that our IVA was in the process of being closed, and threaten legal action if it’s not sorted out.
I think that a class law suit would be in order against this shambolic company.
Here is a useful document to refer to when communicating and complaining to them, and against them.
https://cleardebt.co.uk/wp-content/uplo ... ne2016.pdf