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by Foggy
Mon Oct 21, 2019 6:47 am
Forum: Ask IVA Forum and Industry experts
Topic: Payday loan reclaim whilst in IVA
Replies: 5
Views: 5677

Chantal -- you were lucky in that you kept the refunds and the IVA wasn't terminated. The company that held on to the refund should not have. It should have gone first to the IVA and, if the IP declared no interest, to you. After the IVA the refunds still belong to the IVA, in the same way as PPI do...
by Foggy
Sun Oct 20, 2019 9:21 am
Forum: Ask IVA Forum and Industry experts
Topic: Pay increase
Replies: 2
Views: 108

Usually the terms contain a clause stating that permanent pay increases are taken into consideration after the review following the increase, at which time the payment increases by half of the increase. So, until your review the extra income should be all yours. Some IP's these days work around this...
by Foggy
Sun Oct 20, 2019 9:11 am
Forum: Ask IVA Forum and Industry experts
Topic: F&F was accepted in August.
Replies: 6
Views: 361

CF are normally one of the faster firms at issuing the completion certificate, taking between a few weeks and a couple of months, but, sometimes things happen that are beyond their control and it might take longer. Hopefully it should land on your doorstep any time now.
by Foggy
Sun Oct 20, 2019 9:03 am
Forum: Ask IVA Forum and Industry experts
Topic: Once iva paid off ....
Replies: 2
Views: 108

As Kallis says, until you are released from your IVA by the issue of a completion certificate, although you do not have to continue paying in the regular monthly payment, overtime or work related bonus payments, you would still be liable to pay over windfalls. The issue of the certificate can take a...
by Foggy
Sat Oct 19, 2019 8:36 am
Forum: Ask IVA Forum and Industry experts
Topic: Certificate of completion
Replies: 2
Views: 164

As Luluj says, your IP is supposed to send this informationto the Insolvency Service, to get you removed from the Insolvency Register. They, then, are supposed to advise the credit reference agencies, who will mark your credit files accordingly. Have a read here: https://www.iva.co.uk/what-does-an-i...
by Foggy
Sat Oct 19, 2019 8:26 am
Forum: Ask IVA Forum and Industry experts
Topic: If I sold my property ...
Replies: 5
Views: 365

During an IVA you still actually owe the full original debt, plus fees and possible statutory interest. the IVA will only end early if you pay back that total amount, or if you make a lump sum offer that is acceptable to the creditors -- usually based on the agreed payments. If you paid in, say, a l...
by Foggy
Fri Oct 18, 2019 6:58 pm
Forum: Ask IVA Forum and Industry experts
Topic: DRO an a re-determination hearing
Replies: 2
Views: 226

Your intermediary will be able to tell you if you need to attend. Has the debt changed in some respect that might affect the DRO ?
by Foggy
Fri Oct 18, 2019 4:31 pm
Forum: Ask IVA Forum and Industry experts
Topic: Can I still spend before IVA active?
Replies: 3
Views: 201

You could -- but anything you spend on credit cards or draw out as overdraft, now that you know you cannot repay it, could be considered the proceeds of fraud. It could also persuade the creditors to refuse the IVA entirely.
by Foggy
Fri Oct 18, 2019 4:01 pm
Forum: Ask IVA Forum and Industry experts
Topic: Thinking of selling
Replies: 1
Views: 165

It is standard practice to sign an RX1 -- this is to alert your IP if you try to sell as, if you do, as you rightly guess, the equity will go towards your creditors on top og the agreed IVA payments. If you refuse to sign the RX1 the IVA could be failed.
by Foggy
Fri Oct 18, 2019 3:20 pm
Forum: Ask IVA Forum and Industry experts
Topic: HMRC are refusing to be added to IVA and now it will fail
Replies: 1
Views: 224

This is grossly unfair ! As debtors we have very little, in fact no, recourse to assistance or mediation when and if things go wrong in our IVAs. Do you own your home, or any other assets that might be at risk in bankruptcy? Or, do you have a job that prohibits bankruptcy ? If the answer to both of ...
by Foggy
Fri Oct 18, 2019 10:09 am
Forum: Ask IVA Forum and Industry experts
Topic: Can I transfer my IVA to another company?
Replies: 6
Views: 276

CF have their issues, as most firms do. They are not my cup of tea, but do have many happy customers.
Of course, we all get exemplary service, until we are signed in --- what happens then is what puts companies apart.
by Foggy
Fri Oct 18, 2019 9:36 am
Forum: Ask IVA Forum and Industry experts
Topic: Can I transfer my IVA to another company?
Replies: 6
Views: 276

No -- once the IVA is in place you are effectively stuck ---- They can transfer you, but you cannot.

If you have any doubts, now is the time to be changing ---- is there any specific issue worrying you ?
by Foggy
Fri Oct 18, 2019 6:53 am
Forum: Ask IVA Forum and Industry experts
Topic: Is it possible to buy my house while in an IVA?
Replies: 3
Views: 644

It would seem that council house purchase is a 'no-go' whilst in the IVA, so the best bet would be to clear the IVA first and then consider the purchase.

Have a look here: https://debtcamel.co.uk/right-buy-will-debts-stop/
by Foggy
Thu Oct 17, 2019 5:54 pm
Forum: mortgages
Topic: New Fixed Term
Replies: 2
Views: 254

Some lenders have, in the past, offered new deals to customers in an IVA and, sometimes, at better rates. Choices with an alternative lender might be slim pickings. Maybe Shaun or Ryan could assist, both whole of market broers with experience of adverse credit applications: Ryan: https://www.iva.co....
by Foggy
Thu Oct 17, 2019 9:48 am
Forum: Ask IVA Forum and Industry experts
Topic: Bank markers
Replies: 4
Views: 396

The banks will keep their own internal records for as long as you are a customer and up to seven years after your relationship with them ceases. There is little you can do about this. I would suggest a chat with Ryan and / or Shaun about remortgaging elsewhere. Their contact details can be gleaned f...
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