Hi I had a iva with 3 different companies over just under
5 years, which was terminated a few months ago.The first two companies went into administration then the third company terminated because of arrears we physically couldn't afford now we are in a dmp and the iva company have rx1 on my property and wont remove until creditors are payed in full,how can they do this if I no longer have anything to do with them
The RX1 form is to stop you selling your property and pocketing the cash when you still owe people money. The debts don’t go away until either the IVA is completed or the DMP is completed.
Surely, if it is terminated the RX1 should be removed - it is down to the debtor to sort out repaying his debts. If he wishes to sell his house he should be allowed to do so. If he chooses to pay his debts then good for him. A DMP will not have a restriction on your property.
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
All my creditors have agreed to dmp,iva cancelled my arrangement as they increased payment from 70 pm to 300 plus I just don't see how iva can still have a restriction when I am no longer involved with them,plus they signed me up saying they would help me now they inform me I owe them 5000 plus I don't no how this has happened because I never owed them a penny start with.
Wed Jan 27, 2021 11:38 amkallis3 wrote:
Surely, if it is terminated the RX1 should be removed - it is down to the debtor to sort out repaying his debts. If he wishes to sell his house he should be allowed to do so. If he chooses to pay his debts then good for him. A DMP will not have a restriction on your property.
Its the iva that have put restriction on not dmp,dmo agree with me and say the debt cant be owed twice some very dodgy companies out there be aware.
Speak to your company and ask them to remove it. As to a DMP you still owe all of your original debt and the creditors can add interest and charges if they wish.
What are these charges they are talking about.
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
Spoken to iva they say they will not remove restriction until all creditors are paid even though I have nothing to do with them,they said I've signed a document allowing this but was not aware until now, funny how the name on restriction is in new companies name not previous two ,the debt i owe them is not really a debt its just a figure they have made up because I didn't stick to the payments they set which I physically couldn't afford buy because of this thats why they not lifting it hoping they can get there money which in theory I don't owe them.
Have you checked your paperwork? If you are no longer in an IVA they have to lift it as they have nothing to do with you anymore. I don't see how you owe them any money. Which company is it? You can make a complaint to the regulator about the IP.
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
