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
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 !
