I started an IVA in September 2004

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emma26
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by emma26 » Tue Jan 19, 2010 9:56 pm
I started an IVA in September 2004 and was due to complete in Sept 2009 however I took a 3 month payment break due to unemployment and have paid 4 back therefore should have paid my last payment this month.I called today to confirm this and was told it shouldn't finish until April. The first three years were a nightmare with my reviews always being incorrect and having to sort them out (they kept adding my expenses as additional payments) then the company changed hands completely. After 5 years 3 months I finally thought this nightmare had ended. I have been through my annual reports (all which state incorrect amounts owed) and I am wondering where I stand with this. By the paperwork it says I still owe over £1000 My husband has lost his job (although I didn't know him at the time of IVA) and I will need to contribute more. How can I end this now??? As he isn't included with the IVA I do not know where we stand. I was lead to believe after 5 years that would be it but if it drags on until april it will be nearer 6 years. Thanks for your help

 

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Shining
Posts: 27023
by Shining » Tue Jan 19, 2010 10:02 pm
Hi emma, welcome to the forum, I'm sorry to read you're having problems, one of our professional posters will be along very soon to advise I'm sure so do stay with us and hopefully you'll gain some good advice.

 

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Adam Davies
Posts: 14596
by Adam Davies » Tue Jan 19, 2010 10:06 pm
Hi
Sounds a bit of a nightmare
Ask them to explain why there is still three months to pay. You are in a bit of a catch 22 because if you fight the amount it may just drag out the conclusion date. Try to work with them and agree a conclusion date, given that your husband is not working you would think that it could be finalised now
Regards

 

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MelanieGiles
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by MelanieGiles » Wed Jan 20, 2010 2:40 am
This should have been made apparent to you from earlier annual reports, and you should absolutelyb ask for a detailed explanation. The only thing that I can think of is that you agreed to offer a guaranteed dividend or the IP is charging more fees.
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