Have they given you an explanation as to why you owe this money? Have you had a payment break at all? Speak to your IP company and ask them why.
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
Before you can argue your case you need to get them to tell you where they think this money is owed and why ?
Have you missed any payments ? Have you declared all of your income, payrises, overtime etc. ? Do you own your own home and they are talking about an extension or equity release ?
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
Hopefully this can be fully explained to you so you can see where they have calculated this figure. Did you have a clauses in your initial agreement to release equity? Did you have car finance that ended midway through and therefore payments should have increased ?
Be sure to get an explanation first from them... let us know how you get on.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
